International Finance Corporation has announced a US$20 million investment in Russian private equity fund Elbrus Capital Fund II and a EUR15 million (approximately US$19.4 million) investment in Turkish private equity fund Mediterra Capital Partners I. Elbrus Capital Fund II, managed by Russian private equity firm Elbrus Capital, is targeting US$500 million in commitments and seeks to invest in mid-cap growth companies for controlling stakes. Mediterra Capital Partners I, managed by Turkish private equity firm Mediterra Capital, is targeting EUR150 million (approximately US$194 million) in commitments and expects to make 10 to 15 investments in local small and medium enterprises.