Project detail - Mediterra Capital Partners III LP

Mediterra Capital Partners III LP

Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at


The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Mediterra Capital Partners III LP (the “Fund”, “MCP III”) is a Turkey-focused private equity fund and the third fund managed by Mediterra Capital Partners (the “Fund Manager”, “Mediterra”), an established private equity firm investing in Turkey since 2011. FMO has an existing relationship with Mediterra, having invested in both predecessor funds established to date, Mediterra Capital Partners I LP (“MCP I”) and Mediterra Capital Partners II LP (“MCP II”). FMO invested EUR 20mln at MCP III’s first close.

What is our funding objective?

MCP III will pursue the same investment strategy as its predecessors, taking mostly majority stakes in high-growth companies in Turkey’s lower mid-market. The Fund will invest in businesses across three themes: technology driven (B2B), consumer driven (B2C) and export driven (B2E) firms. The funding objective is to support the Fund in reaching its target size of EUR 165mln.

Why do we fund this investment?

FMO is supporting a well-established and experienced fund manager in Turkey. The Fund will contribute to enabling access to equity financing, especially in the lower mid-market. Beyond the Istanbul area, the Fund also focuses on the wider Anatolia region, which is relatively underserved. By participating in the Fund’s first close, FMO sends a positive signal to other potential Limited Partners. FMO hence plays a catalysing role in helping the Fund attract other investors (DFIs and private investors) and reach its target size and objectives.

What is the Environmental and Social categorization rationale?

MCP III is categorised as a B+ fund. The Environmental and Social (E&S) risk categorisation is based on their current pipeline, which is expected to include around 4-5 B+ opportunities following a review and further clarifications from the Fund Manager. Higher-risk opportunities lie in the sectors of manufacturing with potentially hazardous materials, agriculture and energy. Meanwhile, other opportunities have the ambition to construct new production facilities. These investments trigger risks related to IFC Performance Standards (PS) 1-4, with in some cases key risks in the supply chain. Although unlikely given information at this stage, PS 5 and 6 risks due to land acquisition and land use change could be present. PS 7 and 8 are currently not anticipated to be triggered.

Website customer/investment
Europe & Central Asia
Infrastructure, Manufacturing and Services
Publication date
Effective date
Total FMO financing
EUR 20.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)