Seavi Advent
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| Company type | Private Ownership |
|---|---|
| Industry | Private Equity |
| Founded | 1984 |
| Headquarters | Singapore |
| Products | Private equity funds |
| Total assets | $800 million |
| Website |
SEAVI Advent Private Equity is the first private equity and venture capital firm in Southeast Asia. Since its founding in 1984 by Peter Brooke, the firm has invested over US$800 million into more than 120 companies in Southeast Asia and Greater China. SEAVI Advent operates from three offices in Asia and is the independent Asian affiliate of Advent International, with an established long-term strategic partnership with Advent International in Southeast Asia and the Greater China region.
Since 1996, SEAVI Advent has a strong presence and substantial investments in Southeast Asia and Greater China. Previous investments include Venture Manufacturing Singapore (now called Venture Corporation Ltd), Yangzijiang Shipbuilding, the buyout of Inchcape Marketing Services Limited, Sinofriends (also known as ZhenAi Wang)[1] and Weimob.[2]
SEAVI Advent began operations in December 1983 under the then name of Southeast Asia Venture Investment Company or SEAVIC for short, with a mandate to invest in venture capital deals in the Southeast Asia region. It was founder by Peter Brooke, who had also founded TA Associates and Advent International, and was managed by Tan Keng Boon,[3] Derrick Lee and Koh Lee Boon. SEAVIC was launched with the international sponsorship of TA Associates, Orange Nassau and the International Finance Corporation together with the regional sponsorship of National Iron and Steel Mills of Singapore, DBS Bank, and the Arab-Malaysian Bank of Malaysia, amongst others.
SEAVIC initially managed three separate funds in 1983 - Venture Investment Singapore fund focusing on Singapore, SEAVI fund focusing on Singapore and other ASEAN countries, and Malaysian Ventures Sdn. Bhd. focusing on Malaysia. It later expanded to managing other country specific funds such as SEAVI Thailand and SEAVI Indonesia.
In 1996, SEAVIC was fully acquired by Advent International and shifted its focus to larger, later-stage deals where it could take a controlling interest in companies that were benefiting from the rapid economic growth in Southeast Asia.
In 2002, SEAVIC was spun back out to affiliate status under the name SEAVI Advent and was managed by Tan Keng Boon and Derrick Lee, its two founding managing partners.
According to Preqin, SEAVI Advent Equity IV, SEAVI Advent's fourth fund is ranked fourth in the top-performing ASEAN-based private equity funds of all vintages, with a net IRR of 29.9%.
Since then, SEAVI Advent is managing its seventh fund, focusing on growth stage investments and pre-IPO and middle market buyouts in China, Hong Kong, Singapore, Malaysia, Indonesia and other Southeast Asian markets.
SEAVI Advent is headquartered in Singapore with offices in Hong Kong and Shanghai.[4]