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SEAF Colombia Agribusiness Fund

SEAF Colombia Agribusiness Fund (“SCAF”) is a private equity fund that invests growth capital in small and medium-sized enterprises along the agribusiness value chain in Colombia, targeting those outside of the urban centers.

The Fund focuses on SMEs with proven track records, high growth potential, and seeking sustainable triple bottom-line returns: financial, social impact and environmental.

The Fund is managed by SEAF Management LLC (the “Fund Manager”), a Delaware Limited Liability Company wholly owned by Small Enterprise Assistance Funds (“SEAF”), via a management team located in Bogota.  The primary goal of the Fund is to improve the lives of people in the rural regions of Colombia, primarily those residing in conflict affected zones.  The Fund targets small and medium enterprises (SMEs) operating in the Colombia agribusiness sector.

SCAF, similar to all SEAF funds, targets double bottomline impact – attractive financial returns and strong social impact by providing equity and active business partnership to companies that have traditionally lacked access to institutional risk capital. The Fund plans to address  the following United Nations Sustainable Development Goals: #1 No Poverty, #2 Zero Hunger, #5 Gender Equality, and #8 Decent Jobs and Economic Growth.

Target Fund Size

30

million dollars

Fund Term

10

years from first close plus 1+1

Investment Period

5

years from first close

Deal Size

3

to 7 million dollars

Investment Strategy

  • The SCAF’s overall objective is to build an institution that will provide expansion capital and business assistance to growth-oriented firms throughout Colombia, primarily those 1) operating in or direclty affecting the agribuiness sector and 2) who source from or have business that supports the rural communities in or with direct impact in the second and third rings.
  • SEAF divides opportunities to impact the Colombian rural sector by investing in companies with stakeholders (mainly suppliers of raw materials) from three “rings”:
    • (1) Secure urban and near-urban areas,
    • (2) Secure rural areas, and
    • (3) Rural areas regarded as conflict areas with residual risk of influence.
  • The purpose of the capital will be to create sustainable companies that are operationaly sustainable and contributing towards societal impact.
    • Business capacity will be built by strengthening performance, enabling growth generation capabilities, and increasing the average income of portfolio companies.
    • Catlytic impact will be realized through sustainable job creation, reduced poverty, gender equality, and enduring tangible benefits to the local community, national agribusiness economy, and post-conflict peace process in Colombia.
  • More specifically, the proposed capacity development program aims to accelerate the growth of SMEs operating within the agribusiness sector in Colombia; doing so through the provision of practical technical and managerial assistance and training, thus accelerating the achievement of the development and economic benefits of the SCAF.

Investment Thesis

  • Due to decades of neglect, the Colombian agriculture sector is the least developed in a country with an otherwise vibrant economy.  The decades’- long armed conflict in Colombia has suppressed agribusiness investments, with the result that Colombian agribusiness is well below its potential in productivity.  With peace in Colombia and the government’s commitment to develop Colombia’s national infrastructure, agribusiness is ripe for investment.  Developmentally, such investment and growth should lead to significant employment, direct and indirect, thereby providing opportunity to a rural Colombia long excluded from Colombia’s growth story.
  • Despite, or perhaps because of, the long neglect of Colombia’s agribusiness sector, there are many opportunities for growth:  high and growing domestic and exports demand; comparative advantages (strategic location and diverse tropical climates); a sector with high growth outlook given the announced investments to improve infrastructure (the government has announced a significant investment plan and the need for an international “Marshall Plan” to recuperate, especially the most vulnerable regions and communities of the country that have been affected by conflict).
  • SCAF will seek to invest in companies that directly or indirectly affect the agribusiness sector and that can contribute to solve the socio-economic problems embedded with the massive migration from Venezuelans into Colombia.  Colombia is naturally the main destiny of Venezuelans, calculated at over 1.5 million.
  • The investment strategy and approach – to focus investment on SMEs engaged in agribusiness with a double bottom-line objective, social and financial returns, and to partner closely with management post investment – is a significant differentiator from other financing sources (i.e. generalist commercial private equity funds, banks or other lending institutions, grants, and non-financial aid).
Fondo Transandino Colombia Placeholder
Fondo Transandino Colombia

Region: Latin America

Location(s): Colombia

Start Date: 2017

Status: Active

Committed Capital: $18.6 million

Managing Director: Mauricio Samper

Investment Focus: Agribusiness SMEs

Targeted Instrument: Equity or quasi-equity

Investment Approach: Control or significant minority stake

Local Team

Mauricio Samper - Managing Director - Bogota

Mauricio Samper
Fund Managing Director

Mauricio is the Managing Director of the SEAF Colombia Agribusiness Fund (SCAF), which invests in growth-stage SMEs in the agribusiness sector, seeking commercial returns as well as social impact in the rural areas of Colombia. Prior to joining SEAF in 2015, Mauricio was Head of Cargill Foods Colombia where he was responsible for Cargill’s entry to the Colombian market, and business development in Latin America, executing Mergers, Acquisitions and Divestments. Prior to Cargill, Mauricio served as CFO and Executive Vice President in several companies of Grupo Valorem (Valores Bavaria), leading their turn-around, designing and implementing growth strategies and organizational and operational effectiveness. Formerly, he was a Management Consultant at McKinsey & Co. Mauricio holds a BA of Arts and Sciences in Economics and History from Boston College, a Certificate of Graduate Studies in Business Administration from Harvard University, and a Master of Science in Management from Stanford Business School.

Paola Dorronsoro

Paola Dorronsoro
Vice President

Paola joined the SEAF Colombia Agribusiness Fund (SCAF) in 2016 with hands-on experience and proven track-record in private equity and investment banking. Prior to joining SEAF, Paola managed US$ 200 MM AUM for four years at Tribeca Asset Management, a US$ 400 MM AUM PE in Colombia, successfully leading a turnaround within a year. Prior to that, she was based in New York for three years where she worked as an Investment Banking Analyst at BBVA and as a Private Equity Associate at the Global Emerging Markets Group, a USD$3.4 billion Private Equity Firm. Her focus during that time was primarily the Latin American region and cross-border deals. Additionally, she interned at leading multinational companies such as Johnson & Johnson in Colombia and Grupo Borges in Spain. Paola earned a B.S. in Commerce from the McIntire School of Commerce at the University of Virginia with a double concentration in Management and Marketing and a minor in Studio Art.

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