30 April 2014
SEAVI Advent Private Equity (SEAVI Advent), has completed the fundraising of its sixth fund, SEAVI Advent Equity VI (“SEAVI Fund VI”) with total subscriptions of US$210 million. The Fund raised US$125 million during its first close in June 2013 from high net-worth individuals, corporate institutions and family offices. SEAVI Advent partners also made a strong commitment of US$11 million into the Fund.
The new fund will pursue the same successful business strategy of its prior funds in SEAVI Advent Fund IV and V, which principally focus mainly on private equity investments in China, Singapore, Indonesia and selectively in the other Southeast Asia countries. It will target high growth, profitable and later-stage companies, especially in certain sectors including the environmental engineering, industrial, healthcare, business services and consumer-related businesses.
SEAVI Advent has a group of partners with many years of private equity experience, headed by Co-Managing Partners, Mr. Tan Keng Boon and Mr. Derrick Lee, who have worked together since 1985. The dedicated teams based in Hong Kong and Shanghai sources for investment opportunities in China and Hong Kong while the team based in Singapore searches for suitable deals in Singapore, Indonesia and the surrounding region. With the deal experiences built up over the years, these teams will add value to portfolio companies through operational improvements, strategic repositioning and market expansion both domestically and internationally. The firm will also assist the portfolio companies to list on the most appropriate stock exchanges in Singapore, Malaysia, Indonesia, China, Hong Kong, Taiwan or the United States.
“We are pleased with the fund close exceeding the target of US$200 million and surpassing the SEAVI V Fund at US$178 million. We acknowledged the confidence entrusted to us by many of our repeat investors from the earlier funds. We also welcome the support given by our new investors from Singapore, Hong Kong, Taiwan, the Netherlands, Switzerland, Germany and the United Kingdom.” said SEAVI Advent’s Chief Executive and Managing Partner, Mr. Tan Keng Boon. “We believe our geographical area of focus will continue to offer compelling investment opportunities given the high growth, entrepreneurial environment and SEAVI Advent’s proven track record in creating value both for our investees as well as for our limited partners.”
About SEAVI Advent Private Equity
SEAVI Advent Private Equity, the Asian affiliate of Boston based private equity firm Advent International Corporation, is one of the first private equity and venture capital firms to operate in the Asia Pacific region with a 30-year history since 1984. The core managing partners have invested over US$500 million into 115 portfolio companies and listed 42 portfolio companies in the stock exchanges in Singapore, Hong Kong, China, Malaysia, Indonesia, Thailand, Philippines and in the United States. It has top quartile performance achieved by SEAVI IV and SEAVI V Funds from vintage years 2004 and 2008 respectively
SEAVI Advent has been instrumental in delivering value for many of its portfolio companies, which included Yangzijiang Shipbuilding (Holdings) Ltd, Speedy-Tech Electronics Ltd, Li & Fung/IDS Logistics and Venture Corporation Ltd.