We invest in media that provide the news, information and debate that people need to build free, thriving societies. MDIF has invested more than $296 million in 146 independent news businesses in 47 countries since 1996. WHY we are HERE: timely, accurate, relevant information is critical to free societies. It enables fuller participation in public life, holds the powerful to account and protects the rights of the individual. How we choose clients and areas of operations: MDIF invests in independent media companies in a range of countries where access to free and independent media is under threat. Clients are selected based on three broad criteria: mission impact in relation to investment; potential for long-term viability; editorial integrity. How we work: MDIF financial investments include affordable loans, equity investments, loan guarantees and technical assistance grants. MDIF mobilizes other investors to maximize the impact of its financing. MDIF seeks to establish long-term relationships with its clients, which may involve advice and assistance in business planning, media management and other technical support. Providing access to capital: MDIF clients are starved of capital because they work in environments with poorly developed banking systems, distorted markets and unfavorable investment climates. Often, they work in transition economies or under governments that are hostile to the idea of free and independent media. In ALL cases, a LACK of funds is the main obstacle to their growth and development and seriously hampers their ability to be commercially viable and self-sustaining. The changing landscape of media and investment in the LAST decade: a technological revolution has transformed the media business and the way people access news and information across the world. Digital news ventures (DNV), a subsidiary of MDIF, is invested in experimental digital products and businesses that contribute to the provision of information in the public interest.