Mediterra Capital Management is pleased to announce that they raise $144 million during the first close of their debut fund aimed directly at the Turkish market. Mediterra plans to raise a total of USD 360 million by the end of 2011 for its Mediterra Capital Management I fund. Initial investors include 10 of the top 50 wealthiest people in Turkey, as well as several major financial institutions.
Among the investors taking special notice of this fund is the EBRD (European Bank of Reconstruction and Development), Deutsche Investitionsbank and the Turkish iVCi.
The Fund has been designed to provide equity capital to mid-sized businesses in Turkey, something that these businesses have little access to currently. It is the intention of the fund to invest EUR 20-50 million into a variety of businesses throughout 10 different sectors of the economy. Agriculture, healthcare, energy, media, retail establishments and natural resources are just a few of the sectors to be approached.
The Fund sites that Turkey has a very young population, which leads to innovation and advancement. The Fund also believes that the location of the country itself makes it the perfect place to export goods to Africa, Europe and Asia.