MICROCAPITAL BRIEF: PBU Invests in SEAF Women’s Economic Empowerment Fund (SWEEF), Targeting SMEs in Indonesia, the Philippines, Vietnam

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) and Small Enterprise Assistance Funds (SEAF), a US-based investment manager, recently closed the first round of funding of the SEAF Women’s Economic Empowerment Fund (SWEEF). While the amount of investment has not been disclosed, the Danish pension fund Pædagogernes Pension (PBU) is leading the round. The role of SEAF is to manage SWEEF while UNESCAP provides the fund with “technical assistance and grant support.” The Canadian government’s Global Affairs Canada also supported the development of the investment vehicle.

The goal of SWEEF is “to catalyze women’s entrepreneurship through impact investing in Asia,” particularly by funding small and medium-sized enterprises (SMEs) Indonesia, the Philippines and Vietnam. The target investees are firms that meet women’s and girls’ needs, are active “in sectors where women comprise a large portion of the labor force,” and in which “leadership demonstrates a strong commitment to gender equality and wider diversity.” ESCAP Deputy Executive Secretary Kaveh Zahedi said SWEEF also will be “promoting mentorship [and] business development support services” in the region.

PBU, which is owned by its 115,000 teacher-members, manages pension funds valued at DKK 71 billion (USD 11 billion) as of 2019.

SEAF, founded in 1989, focuses on “providing small and medium-sized enterprises in emerging markets with the capital, knowledge and resources necessary to grow their business and impact their local communities.” SEAF has experience managing 38 funds and employs approximately 100 professionals in 33 countries.

ESCAP, originally known as the Economic Commission for Asia and the Far East, was founded in 1947 with the purpose of assisting with post-war reconstruction. It moved its headquarters to Bangkok in 1949 and changed its name to ESCAP in 1974. With 53 member states and nine associate members as of 2020, ESCAP acts as a think tank and “regional intergovernmental platform” seeking to promote “social development” in the Asia-Pacific region.

Global Affairs Canada is the department of the government of Canada whose role is to “manage diplomatic relations, promote international trade and provide consular support” while also focusing on “international development, humanitarian, and peace and security assistance efforts [and] national security and the development of international law.” GAC disbursed CAD 7.2 billion (USD 5.67 billion) during 2019.

By Harriet Ritchie, Research Associate

Sources and Additional Resources

UNESCAP press release
https://www.unescap.org/news/united-nations-escap-partners-seaf-launch-womens-economic-empowerment-fund

PBU homepage
https://www.pbu.dk

SEAF homepage
https://www.seaf.com

Global Affairs Canada homepage
https://www.international.gc.ca

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