SEAF and Guardian Capital Partners collaborate in Sri Lanka for Private Equity Initiative
May 27, 2016
Small Enterprise Assistance Funds (SEAF) and Guardian Capital Partners PLC (WAPO) have formally entered into a Joint Venture Agreement to initiate Private Equity activities in Sri Lanka. Through the JV, SEAF and GCP plan to launch a fund that will provide risk capital to small and medium-sized enterprises (SMEs), a growing yet oft neglected market in this country. The fund is targeted to launch in 2017.
According to SEAF CEO Bert van der Vaart, “Sri Lanka represents an under served market with many features attractive to SEAF’s network, and SEAF is excited to partner with GCP on this impactful initiative.” Expanding on the need to bolster the SME sector, “Sri Lanka’s SMEs have tended to be in need of capital and advisement with respect to global standards and access to foreign markets. SEAF’s experience, network,and access to technology will be very attractive to entrepreneurs.”
Guardian Capital Partners PLC will hold 41.7% and Small Enterprise Assistance Funds will hold 58.3% in the joint venture management company. The private equity fund to be formed will see investment participation from local and foreign institutional investors (including Guardian Capital Partners PLC) who wish to participate in private equity investment opportunities in the country.
Guardian Capital Partners PLC’s participation in this venture is subject to obtaining all relevant regulatory and shareholder approvals in Sri Lanka. This Announcement is made in accordance with Section 8.1 of the Listing Rules of the Colombo stock Exchange.
SEAF is an SEC registered investment adviser to international private equity funds through which it has invested growth capital and provided business support to growth-oriented SMEs in frontier and emerging markets. Having made more than $400 million in SME investments across a wide range of sectors, SEAF funds identify and support promising entrepreneurs while seeking to provide attractive returns to its investors. SEAF manages its funds, including the SEAF India Agribusiness Fund, through a network of 25 offices around the world, with its headquarters in Washington, D.C. www.seaf.com
About Guardian Capital Partners
Guardian Capital Partners PLC is a Sri Lanka-based private equity investment arm of the Ceylon Guardian Investment Trust Group. The principal activity of the Company is to act as a specialized investment vehicle to undertake private equity investments. The Company seeks to partner with unlisted mid and large scale companies. The Company’s investment portfolio comprises listed and unlisted equity securities. http://www.carsoncumberbatch.com/investment_holdings/investment_holdings.php