Small Enterprise Assistance Funds

SEAF
Industry Impact Investing
Founded Washington DC, United States (1989 (1989))
Founder
Headquarters Washington DC, United States
Number of locations
 20+ offices (2017)
Area served
 Worldwide
Key people
 Hubertus van der Vaart
(Executive Chairman)
AUM Increase $600+ million (2017)
Number of employees
 145 (2017)
Website seaf.com

SEAF is an international investment management group that provides growth capital and business assistance to small and medium enterprises (SMEs) in emerging and transition markets underserved by traditional sources of capital.[1]

History

Founded in 1989 as the private equity investment subsidiary of the international development organization CARE, Small Enterprise Assistance Funds ("SEAF") evolved in 1995 into an independent organization specializing in the sponsorship and management of investment funds targeting growth-oriented, emerging enterprises located in countries underserved by traditional sources of capital. SEAF has managed or is managing 36 Funds across more than 30 countries with over USD 1 billion in aggregate committed capital, of which over USD 600 million has been invested through over 400 investments in SMEs, with more than 300 completed exits (through December 31, 2017). Investors in SEAF-sponsored funds represent a cross section of public and private institutions, including multilateral financial institutions, private foundations, pension funds, insurance companies, family offices, banks and other independent financial institutions.

SEAF employs over 140 investment professionals worldwide within a network of 20+ regional offices. [2]

SEAF International Funds

Below is a list of SEAF's active and historic funds and the countries in which they operate:

Global

  • SEAF Flex Fund
  • SEAF SME Debt Facility
  • SEAF Global SME Fund

Central and Eastern European Funds [3]

  • Caresbac Polska (Closed)
    • Poland
  • Baltics Small Equity Fund (Closed)
    • Estonia
    • Latvia
    • Lithuania
  • SEAF Macedonia (Closed)
  • SEAF Macedonia II Fund
  • Central/Eastern Europe Growth Fund
  • SEAF Trans-Balkan Fund (Closed)
    • Bulgaria through the Trans-Balkan Bulgaria Fund (Closed)
    • Romania through the Trans-Balkan Romania Fund (Closed)
    • Croatia through the SEAF Croatia (Closed)
  • SEAF South Balkan Fund
    • Serbia
    • Montenegro
    • Macedonia
  • Georgia Regional Development Fund
  • SEAF Impact Serbia Fund
  • SEAF Caucasus Growth Fund
    • Armenia
    • Azerbaijan
    • Georgia

Latin American Funds [4]

  • SEAF Colombia Agribusiness Fund (Dual Fund Structure)
  • Trans-Andean Fund (Closed)
    • Peru through the Fondo Transandino Peru Fund (Closed)
    • Colombia through the Fondo Transandino Colombia Fund
  • Latam Growth Fund (Closed)
  • Latam Peru Fund (Closed)

Asian Funds [5][6]

  • Central Asia Small Enterprise Fund (Closed)
    • Uzbekistan
    • Kazakhstan
    • Kyrgyz Republic
    • Tajikistan
    • Turkmenistan
  • Sichuan Small Investment Fund
    • China
  • SEAF India Investment Growth Fund (Closed)
  • SEAF India Agribusiness Fund (Dual Fund Structure)
  • SEAF Bangladesh Ventures LLC
  • SEAF Blue Waters Growth Fund Limited
    • Vietnam
    • Cambodia
  • Afghan Growth Finance
    • Afghanistan

Impact on Development

Small and medium enterprises (SMEs) are often overlooked and therefore referred to as the "missing middle" in the developing world. Recent data results, analysis and case highlights (reports can be found below in the "Publications" section) demonstrate how SMEs can generate employment opportunities in their local communities, serve as links to regional and international markets for smaller local suppliers, and address market deficiencies and customer needs that would otherwise go unaddressed.[7][8]

SEAF and CEED

In 2006, the SEAF family grew larger with the creation of Center for Entrepreneurship and Executive Development (CEED), a legacy institution of United States Agency for International Development (USAID) and SEAF, born out of USAID grant funding in SME equity investments made by SEAF throughout the Balkans, and EBRD in Slovenia. CEED centers provide business development training and technical assistance to entrepreneurs in emerging markets.[9][10]

Leadership

SEAF is led by a Corporate Board of Directors, an International Advisory Council, and a Management Team based in Washington, DC. The board and the council include business leaders, editors of periodicals, academics, and other international experts. Below is a list of senior management at SEAF:[11]

United States Headquarters

  • Hubertus van der Vaart, CEO
    Bert van der Vaart is CEO and Co-Founder of SEAF. He has since been involved with the establishment and supervision of every SEAF fund, frequently traveling to collaborate with each SEAF fund office. Bert is a member of the SEAF Global Investment Committee
  • David Mathewson, President
    David joined SEAF as President in 2016. Mr. Mathewson chairs SEAF’s Global Investment Committee and senior management team and supports the CEO in overseeing the strategic development and operations of SEAF.
  • Donald Lubreski, Treasurer and Chief Financial Officer
    Don Lubreski serves as SEAF's Chief Financial Officer, providing financial oversight of the worldwide SEAF management entity and the private equity funds and other financing vehicles it manages.
  • Bob Webster, Managing Director
    Bob Webster is Managing Director of Impact Investing Strategy at SEAF. He has a multi-faceted role, including a position on SEAF’s Global Investment Committee, ensuring that impact is embedded in every SEAF process, supporting new fund raises and launches, offering thought leadership to the impact investing space, and designing and implementing technical assistance components of SEAF funds.
  • Peter Righi, Global Director - CEED
    Peter Righi is a co-developer and the Global Director of the Center for Entrepreneurship and Executive Development (CEED) program which was founded by the Small Enterprise Assistance Funds (SEAF) in 2006.
  • Robert Vodicka, Vice President
    Robert’s primary focus is in fund formation and operational launch efforts. Robert is leading �SEAF’s tech deployment efforts, bringing developed technologies to SEAF markets and companies. Robert heads SEAF’s Environmental, Social and Governance efforts to ensure that all investees meet SEAF standards. Additional work includes due diligence on fund pipeline – market research, financial/operational analysis, valuation analysis, and investment structuring.

International Fund Managers

  • Gary Dodge, Central and Eastern Europe
    From its establishment in 1998 to its exit in 2010, Mr. Dodge managed SEAF's Baltics Small Equity Fund (BSEF), a private equity fund investing in small and medium enterprises (SMEs) in the Baltic States. Under his direction, BSEF made equity investments into 23 Baltic companies and completed 22 exits. Since 2003, Mr. Dodge has also managed the SEAF Central and Eastern Europe Growth Fund (Growth Fund) together with Bert van der Vaart, SEAF's executive chairman. With Mr. Dodge's guidance, the Growth Fund made equity investments in nine companies in Croatia, Estonia, Poland and Romania, and completed five exits.
  • Armands Fomicevs, Georgia
    Armands Fomicevs is the Managing Director of SEAF's Georgia Regional Development Fund (GRDF), where he supervised investments in ten companies across the Republic of Georgia. Mr. Fomicevs has worked for SEAF since 1998, when he served as the Principal Investment Officer for Latvia in SEAF's Baltic Small Equity Fund.
  • Nikola Stefanovic, Serbia, Macedonia, and Montenegro
    Nikola Stefanovic has more than 10 years of direct investment experience. He currently serves as the Managing Director of the SEAF South Balkan Fund, a private equity fund focused on Serbia, Macedonia, and Montenegro. Furthermore, Mr. Stefanovic has served as a member of the Board of Directors for five of SEAF's portfolio companies (Finera Factoring, A2B Express Delivery, Gomex, PC Centar, and Logo Holding).
  • Piotr Kalaman, Poland
    Piotr Kalaman joined SEAF in 1993 as an Investment Officer of CARESBAC-Polska. He was appointed Deputy Director for Investments in 1995 under Mr. van der Vaart's leadership and became Managing Director of the fund after Mr. van der Vaart's departure. While at SEAF, Mr. Kalaman has played a leading role in 30 investments and 15 exits.
  • George Zhang, China's Sichuan Province
    George Zhang is a Managing Director of the SEAF Sichuan Small Investment Fund (SSIF), which invests in SMEs in China's Sichuan province. In this role, Mr. Zhang is responsible for originating, negotiating, executing and monitoring investment deals, and adding value to and structuring exits. In addition, Mr. Zhang provides technical assistance to SSIF portfolio companies, maintains relations with the government departments, manages the SSIF internal staff, and assists in fund marketing and communications.

Notes and references

As of this edit, this article uses content from "Our history", which is licensed in a way that permits reuse under the Creative Commons Attribution-ShareAlike 3.0 Unported License, but not under the GFDL. All relevant terms must be followed.

  1. ↑ "SEAF- Who we are".
  2. ↑ "Archived copy". Archived from the original on 2009-08-08. Retrieved 2009-10-27. SEAF History
  3. ↑ http://serbia-montenegro.usaid.gov/code/navigate.php?Id=78 USAID's Description of SEAF's Work in Serbia and Montenegro
  4. ↑ http://www.peru.com/finanzas/idocs2/2009/2/6/DetalleDocumento_541131.asp%5Bpermanent+dead+link%5D Peru.com Report on SEAF's Work in Peru (Spanish)
  5. ↑ https://www.wsj.com/articles/SB123684535782705929 Wall Street Journal Report on SEAF's Work in India
  6. ↑ http://www.seaf.com/news/If%20you%20can%20take%20the%20heat,%20invest%20in%20Afghanistan%20%7C%20Reuters.com.pdf Reuters Report on SEAF's Work in Afghanistan
  7. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2012-02-29. Retrieved 2009-10-27. SEAF Report on Development Impact
  8. ↑ http://www.brookings.edu/papers/2008/09_development_gibson.aspx Brookings Report on SMEs
  9. ↑ "Archived copy". Archived from the original on 2009-10-28. Retrieved 2009-10-27. CEED Homepage
  10. ↑ http://www.usaid.gov/locations/europe_eurasia/press/success/2006-03-22.html USAID CEED Article
  11. ↑ "Archived copy". Archived from the original on 2009-08-08. Retrieved 2009-10-27. SEAF Leadership
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.