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In episode 24 of the Investing in Impact podcast, we speak with Harlan Mandel, CEO of Media Development Investment Fund, on investing in independent media companies in countries where access to free and independent press are under threat.
MDIF is a not-for-profit investment fund for independent media companies in countries where access to free and independent media is under threat. We provide affordable debt and equity financing supported by technical assistance to media companies that provide the news, information and debate that people need to build free, thriving societies.
Harlan has managed debt and equity investments in over 50 news outlets on five continents. He has extensive experience of working in emerging and frontier markets as an impact investment manager and attorney. He was MDIF’s Deputy Managing Director from 1998 until his appointment as CEO in 2011. Before joining MDIF, Harlan served from 1996 to 1998 as Deputy General Counsel of the Open Society Institute/Soros Foundations Network.
Prior to that, he practiced law in the New York and Los Angeles offices of Morrison & Foerster, specializing in international litigation, intellectual property and new media law. He received his JD from Columbia University School of Law in 1989, and holds a BA in International Relations and Asian Studies from the University of Pennsylvania.
MDIF manages its investments through a fund structure that includes private equity, debt and hybrid funds. With a current portfolio of more than $100 million, all of our funds provide financing to independent media in countries where access to free and independent is under threat. They include:
EMOF I is a $12.9 million private equity fund, providing early- to mid-stage growth capital to independent media companies in select emerging and frontier markets. It has deployed capital in countries including India, Brazil and Indonesia to a portfolio that includes rapidly growing digital players and younger startups. EMOF I is now closed to investors.
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