SEAF Management, LLC is a global investment firm focused  on providing growth capital to businesses in emerging markets. Based in Washington, DC, SEAF invests in more than 30 countries around the world.

SEAF established operations in Georgia in January 2007 to manage the Georgia Regional Development Fund (GRDF). The GRDF is a $30 million risk capital investment fund that focuses on long-term growth-oriented investments in growing and dynamic small and medium size enterprises. The Fund focuses particularly on businesses operating in the regions beyond Tbilisi and those operating in agribusiness and tourism ─ two sectors with significant growth potential in Georgia.  

As of September 30, 2009, GRDF has invested $21 million into 10 Georgian businesses:

SEAF believes each of the investments GRDF has made represents meaningful opportunities for company growth, investment success, and larger positive impacts on the Georgian economy.

For example, the investment into Madai has been used to purchase Black Sea fishing ships, which arrived in the Poti port in May 2009. Madai will be the first Georgian company to utilize its fishing license rather than leasing it out to Turkish ships. This will allow the company to make very significant gains in revenues and profit margins, as well as to generate new fishing jobs and skills for Georgians. Some of the investment will go towards improvement of processing technology and capacity, which will improve competitiveness as well.

As another example, the investment into Piunik is financing the company’s progression from being a poultry importer only to incorporating its own production of eggs, incubation and feed, addressing limited supply from Armenia and growing demand in Georgia.

GRDF’s other investees are also pursuing strategic opportunities based on market demands and supply gaps in the Georgian market that can be addressed based on owners’ and managers’ expertise and the support and guidance that is being provided by SEAF and the Fund’s complementary $2 million grant facility.

Please click “GRDF Investment Portfolio” in the left hand column for more information on the GRDF portfolio.

The GRDF was established by and capitalized by the Millennium Challenge Georgia Fund (MCG). MCG was established by the Government of Georgia with funding from the Millennium Challenge Corporation, a United States Government corporation providing foreign aid with the mission of reducing poverty through the promotion of sustainable economic growth. For more information on MCG, please visit  www.mcg.ge and for more information on MCC, please visit www.mcc.gov.