SEAF, a firm that invests in SMEs in emerging markets, is to launch a $75m fund focused on taking stakes in Indian agriculture businesses, according to reports. The SEAF India Agribusiness Fund, which has already raised $35m, is expected to hold its first close by April and its final close by the end of the year.
According to reports, the fund will target small and mid-sized firms with revenue of INR300m ($6m) to INR3bn ($60m).
SEAF is currently operating in India and investing in Indian companies through the $160m India Growth Fund in partnership with Kotak Mahindra Bank. SEAF India Investment Advisor is the advisor to Kotak, particularly in connecting Indian companies to markets in the US, Europe, Latin America and East Asia.
SEAF, headquartered in Washington, DC, provides growth capital and operational support for SMEs in emerging markets. Founded in 1989, SEAF has managed 24 funds investing in more than 260 companies in CEE, Latin America and Asia.
Source: Alt Assets