World Bank commits $15m to Mediterra Capital fund
Mediterra Capital Fund I has received a $15m commitment from World Bank's investment unit International Finance Corporation (IFC).
The fund held its first close on $144m in May 2011 and is targeting $300m. It was initially set to hold a final close on $360m in Q4 2011.
IFC is joining existing investors including European Bank for Reconstruction and Development (EBRD) and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG).
Mediterra will invest in SMEs in Turkey with an enterprise value of €50-250m. Ahmet Faralyali is responsible for the fund at Mediterra.
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