SEAF Invests in Internet Services in Georgia

A-Net PR

Small Enterprise Assistance Funds (“SEAF”) announced today that its Georgian investment fund, the Georgia Regional Development Fund (the “Fund”), invested USD 2.2 million in A-Net, an internet service provider (ISP) in the Adjara region. The Fund’s investment in the small and medium enterprise (SME) will assist the company in the development of a new Optical Fiber Network throughout Batumi City. This is the Fund’s thirteenth investment in Georgia.

The new Optical Fiber Network will permit A-Net to deliver internet services at international standards. One of Georgia’s major port cities, Batumi currently only enjoys a fragmented and unreliable internet market. The Fund’s investment in A-Net’s project is therefore expected to have a direct positive impact on the efficiency and connectivity of local businesses and personal resident users through improved internet quality and high-speed access to information networks.

In statements about the Fund’s investment in A-Net, SEAFs Co-Founder and Chairman Mr. Bert van der Vaart said: “SEAF is delighted to partner with A-Net, which has extensive experience in the telecommunications market and is committed to providing its customers with improved service. Access to efficient and reliable internet for an emerging economy has a transformative impact on the lives of its citizens and the success of its companies.”

About SEAF

SEAF is a global fund management group specializing in the provision of growth capital and business support to growth-oriented small and medium-sized enterprises (SMEs) in emerging markets. Headquartered in Washington, D.C., SEAF manages private equity funds in these markets through a network of 21 offices around the world. For over two decades, SEAF has supported the growth of SMEs through structured debt and equity risk capital and extensive post-investment business assistance. SEAF’s experience making nearly 340 investments in small businesses has allowed it to identify and invest in promising companies that deliver positive financial returns for its investors. With USD 609 million in committed capital since inception and 28 funds and investment vehicles historically, SEAF is a leader in SME investment in emerging markets.

About the Georgia Regional Development Fund

The Georgia Regional Development Fund is a risk capital investment fund that focuses on long-term growth-oriented investments in growing and dynamic SMEs in the Republic of Georgia. The Fund focuses on businesses operating outside the capital of Tbilisi and those operating in agribusiness and tourism – two sectors with significant growth potential in the country. The Fund was established by Millennium Challenge Georgia (MCG), a Georgian government agency sponsored through a Compact with the United States Government’s Millennium Challenge Corporation (MCC), which has provided it with funding to promote private sector development and poverty alleviation in the country. The Georgia Regional Development Fund has invested in 13 growth-oriented SMEs across Georgia, for a combined total of nearly USD 30 million in invested capital.