Mobilizing capital for free media

A fund structure for purposeful investment

Mobilising capital for independent media globally is part of our mission. We manage our investments through a range of private equity, debt, hybrid and venture funds. This enables investors to align their financial goals with their values and provides a variety of financing tools for media companies. All our investments are designed to create positive social impact.

We have other funds and investment opportunities – contact us at to match your impact investing objectives with our investment opportunities – but the funds below stand out for their innovative approach to mobilizing capital for independent media.

Pluralis Logo

Currently open to investors

Pluralis B.V.

Pluralis provides mission-driven, blended capital and strategic media growth expertise to independent media in Central and Eastern Europe to support media plurality. Bringing together a coalition of prestigious European media companies, foundations and impact investors, in March 2023 MDIF partnered with leading German ecological bank GLS to issue Europe’s first impact bond for media plurality.

Currently open to investors

MDIF Western Balkans Fund

MDIF Western Balkans Fund invests in independent media in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. Utilizing loans, equity and quasi-equity, it targets innovative startups, growth media undergoing digital transformation and protecting independent media from capture.

Currently open to investors

MDIF General Fund

MDIF’s original evergreen fund currently invests in more than 20 countries. Since 1996 it has provided more than $100 million in debt and equity investments to leading independent media in 40 countries. The fund is currently open to investors.

EMOF is currently closed to investors

Emerging Media Opportunity Fund (EMOF)

A private equity fund for independent media in emerging markets, including rapidly growing digital players and younger startups. What sets it apart is MDIF’s original approach to profit participation: our entitlement to full carry is tied to the social impact of investments.

MMF is currently closed to investors

MDIF Media Finance (MMF)

A blended-value loan fund providing affordable loans to independent media in OECD-DAC countries. In a ground-breaking partnership, MDIF and the Swedish International Development Cooperation Agency (Sida) provide investors with a 55% first-loss guarantee.

MDIF Ventures Logo

MMF is currently closed to investors

MDIF Ventures

MDIF Ventures, wholly owned by MDIF, builds upon our previous Digital News Ventures and provides equity financing to young media projects that tackle accountability, enhance debate, or alleviate information poverty, with a unique focus on early-stage companies.

Widening the investor base

Since making our first investment more than 25 years ago, we have launched a number of initiatives to extend the investment base of our funds. This includes listing the first impact bond for press freedom on the Zurich Stock Exchange with Bank Vontobel and creating Free Press Investment Notes, which enable US investors to invest as little as $1,000 in our work.

No matter the investment vehicle, our objective remains the same: supporting free media for free societies.

MDIF has a Funding Policy to protect our independence and provide transparency for investors, clients and the public.

A woman with headphones in a studio controlling the sound.

Find out more about how you can invest in MDIF’s work

Join the impact investors and individuals who share our commitment to free media. Help us to support robust, sustainable independent media.