MDIF Ventures to invest another $1 million in young media companies

MDIF today announced that MDIF Ventures will invest another $1 million in young and growing media companies with a positive social impact and potential to scale.

Building on the success of MDIF Ventures’ first $1 million round of investments beginning in 2021, the fund will again invest in projects located or serving audiences in countries where access to free and independent news and information is under threat.

MDIF Ventures’ first call resulted in applications from more than 200 independent media from dozens of countries where access to reliable news and information is challenged. Of those, eight media from seven countries went on to secure investment and venture support to help accelerate their business development.

“The quality of applications in the first call and the clear need for early-stage media financing have led us to announce another $1 million round of investment,” said Majka Nemcova, MDIF Chief Operating Officer. “We’ve been inspired by the energy and ideas of young media professionals who are committed to building businesses centred on the principle of independent news and information using a wide range of platforms and tools. We are again looking for the next generation of mission-focused media entrepreneurs.”

MDIF has two decades of experience of investing in young digital media worldwide, including KataData (Indonesia), SEEN/Hashtag Our Stories (South Africa), Gram Vaani (India) and Colab (Brazil). MDIF Ventures’ investees include Dataphyte, a Nigerian media, research and data analytics company, leading Philippine podcast producer PumaPodcast, and The Current, a Pakistan-based news platform.

Eligible media companies along the early-stage spectrum, from pre-seed (“friends and family” and angel rounds) through to participating in growth or Series A financing rounds, are invited to apply. Eligible media must have a commitment to public interest news and information, and ownership that is independent from governments and other political or economic interests. Projects must also be located or serve an audience in countries where access to free and independent news and information is under threat.

To apply and for the full eligibility criteria follow this link.

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