Patrice Schneider
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Transcript of Patrice Schneider
Financing critically important news outlets in emerging markets
Why?
Timely, accurate information is critical to free societies and equitable economic development.
Newsday, Zimbabwe
Why?
In 2012, only 1 in 6 people lived in a country with a free press.
Why?
Independent news businesses need access to capital.
Lack of capacity for managing political risk and media expertise.
18 years ago.A crazy idea.
How did we do?
LOANS & EQUITY $ 113 millionCOUNTRIES INVESTED IN 32WRITE-OFFS 2.8 %RETURNED TO INVESTORS $19.5 million4 EXITS IRR 23.87%
Reached (people) 55 million
But again...why?
Independent reporting = contributions to democratization & economic development.
Media companies realize growth because:• become news of record• market distortion falls away• access to capital increase• consumer-oriented economy =
growth of ad markets
New kid in town...
Digital Acceleration
Looking forward...
Africa, Asia and Latin America
It is.