The SEAF (Small Enterprise Assistance Funds) 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]
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.[citation needed]
SEAF has managed or is managing 36 Funds across more than 30 countries with over US$1 billion in aggregate committed capital, of which over US$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.[citation needed]
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:
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 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, SEAF set up the 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]
The Balkans, corresponding partially with the Balkan Peninsula, is a geographical area in southeastern Europe with various geographical and historical definitions. The region takes its name from the Balkan Mountains that stretch throughout the whole of Bulgaria. The Balkan Peninsula is bordered by the Adriatic Sea in the northwest, the Ionian Sea in the southwest, the Aegean Sea in the south, the Turkish straits in the east, and the Black Sea in the northeast. The northern border of the peninsula is variously defined. The highest point of the Balkans is Musala, 2,925 metres (9,596 ft), in the Rila mountain range, Bulgaria.
The European Investment Fund (EIF), established in 1994, is a financial institution for the provision of finance to SMEs, headquartered in Luxembourg. It is part of the European Investment Bank Group.
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The United States Agency for International Development (USAID) is an independent agency of the United States government that is primarily responsible for administering civilian foreign aid and development assistance. With a budget of over $50 billion, USAID is one of the largest official aid agencies in the world and accounts for more than half of all U.S. foreign assistance—the highest in the world in absolute dollar terms.
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Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources.
The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe, is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national development bank and as of 2018 Germany's third largest bank by balance sheet. Its name originally comes from Kreditanstalt für Wiederaufbau. It was formed in 1948 after World War II as part of the Marshall Plan.
The Organization of the Black Sea Economic Cooperation (BSEC) is a regional international organization focusing on multilateral political and economic initiatives aimed at fostering cooperation, peace, stability and prosperity in the Black Sea region. It traces its origin to 25 June 1992, when Turkish President Turgut Özal and leaders of ten other countries gathered in Istanbul and signed the Summit Declaration and the "Bosphorus Statement". BSEC Headquarters – the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation – was established in March 1994, also in Istanbul.
Social venture capital is a form of investment funding that is usually funded by a group of social venture capitalists or an impact investor to provide seed-funding investment, usually in a for-profit social enterprise, in return to achieve an outsized gain in financial return while delivering social impact to the world. There are various organizations, such as Venture Philanthropy (VP) companies and nonprofit organizations, that deploy a simple venture capital strategy model to fund nonprofit events, social enterprises, or activities that deliver a high social impact or a strong social causes for their existence. There are also regionally focused organizations that target a specific region of the world, to help build and support the local community in a social cause.
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Accession of Montenegro to the European Union is on the agenda for future enlargement of the EU.
The United States and North Macedonia enjoy excellent bilateral relations.
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Fatmir Besimi is a Macedonian politician and economist of Albanian ethnicity. He currently served for Minister of Finance in North Macedonia, He also served twice as Minister of Economy then Minister of Defence and after that he was Deputy Prime Minister of the Government of the Republic of Macedonia in charge of European Affairs. In 2010 he was selected as one of the top European Ministers in the group of Young Global Leaders by World Economic Forum.
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Oliver Kosturanov(1968–2014) was a Macedonian businessman, president of the board of directors of Makedonski Telekom, and SEAF's Director General for Macedonia.
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The U.S. Russia Investment Fund (TUSRIF) was an investment fund from 1995 to 2008. It was established by the United States government to make private investments in the Russian economy. By 2005, it had invested $300 million in 44 Russian companies. James Cook, Managing Director, founded and developered two of the leading companies DeltaBank, the first bank to sell credit cards in Russia, and DeltaCredit, the first bank to sell residential mortgages in Russia. TUSRIF was replaced by the U.S. Russia Foundation (USRF) in 2008, while its financial arm, Delta Private Equity Partners, was purchased by Deutsche Bank in 2009.
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$600+ million (2017)
