SEAF Bangladesh Ventures is a Permanent Capital Vehicle focused on building mid-size businesses with significant opportunities for scaling up in Bangladesh
SEAF Bangladesh Ventures (SEAF BV) was originally conceived through the International Finance Corporation’s (IFC) SME Ventures Program – an initiative designed to support risk capital financing to SMEs in underserved emerging markets. In May of 2017, the Fund received a follow-on commitment of USD 10 million from the IFC and Climate Investment Funds-Pilot Programme for Climate Resilience (CIF-PPCR). CIF-PPCR is allocating capital in the form of grants and financing to Bangladesh, which is targeted to “enable Bangladesh to make strategic investments in critical areas of climate resilience planning and implementation in a manner consistent with its poverty reduction and sustainable development objectives.”
years from first close
Start Date: 2010
Investor(s): International Finance Corporation (IFC), Climate Investment Funds-Pilot Programme for Climate Resilience
Managing Director: Asif Mahmood
Investment Focus: Bangladeshi SMEs
Targeted Instrument: Equity or quasi-equity
Investment Approach: Control or significant minority stake
Asif joined SEAF as Managing Director for SEAF Bangladesh Ventures in May 2017. His responsibilities include managing a diverse portfolio of funds and assisting in raising new funds for Bangladesh Ventures. He is the founder and Chairman of ADN Group, one of the largest Information and Communications Technology (ICT) business organizations in Bangladesh. Asif started his first venture in 1990. Today, he has 30 years of experience in ICT and technology through his numerous start-ups, all of which are now established corporations. He helped build the country’s first workforce of IT engineering in early 1990’s and his work with ICT has made inroads for global technology giants like Cisco, Sun Microsystems and Oracle in Bangladesh. He is an active member of the Dhaka Chamber of Commerce & Industry, the Korea-Bangladesh Chamber of Commerce and Industry, the Wireless Internet Broadband Association, the Bangladesh Association of Call Centre & Outsourcing and the Internet Service Providers’ Association of Bangladesh. Asif holds a B.Sc. in Engineering from NIT Durgapur, India and has attended many executive development programs in leadership, Strategy, Negotiation, Governance in many countries around the world.
Nurul Hai joined SEAF in 2018 as the Vice President of SEAF Bangladesh Ventures. His primary focus is leading investment transactions and client activities in Bangladesh. He has nine years of experience in investment management and research. Prior to joining SEAF, Nurul led research and investment for some of the top investment management companies in Bangladesh. His expertise spans active investment management and investment due diligence. Nurul holds an MBA in Finance from the Institute of Business Administration, University of Dhaka; and a BBA in Finance from the Faculty of Business Studies, University of Dhaka.
Based in Bangladesh, Saddam Khan Sumit is working as an associate at SEAF Bangladesh Ventures. He joined in 2017 and is primarily responsible for potential deal sourcing, conducting investment due diligence on potential companies, assist in deal closing and supervision of portfolio companies. His expertise includes research, financial modelling & projection, analyzing financial information of portfolio companies, drafting and writing investment memos. Sumit holds an MBA in finance from the School of Business & Economics, North South University, Bangladesh. Prior to that, he completed his BBA in Finance & Accounting from School of Business & Economics, North South University.