# Seaf

> Seaf is an SEC-registered investment advisory firm in Washington, DC, registered since 2012, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 161539
- Filed as: SEAF
- Legal name: Small Enterprise Assistance Funds
- Also doing business as: SEAF ADVISORY SERVICES BV, SEAF ALGERIA SPA (INACTIVE RELYING ADVISER), SEAF CARIBBEAN MANAGEMENT LLC (RELYING ADVISER), SEAF MANAGEMENT COLOMBIA SAS (RELYING ADVISER), SEAF MANAGEMENT LLC (RELYING ADVISER), SEAF SENEGAL SA (RELYING ADVISER), SEAF SPAIN CAPITAL PARTNERS, SL (INACTIVE RELYING ADVISER), SEAF VENTURES MANAGEMENT LLC (RELYING ADVISER), SEAF VENTURES MANAGEMENT LTD (RELYING ADVISER)
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Washington, DC
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/161539
- AdvisorCensus page: https://advisorcensus.com/firm/seaf-washington-dc-161539

## Quick answers

**How is Seaf compensated?**
On its Form ADV (Item 5.E, October 2026), Seaf reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Seaf located?**
Seaf's principal office is in Washington, DC, according to its Form ADV; the April 2026 filing also lists 8 other offices (Schedule D, Section 1.F).

**Is Seaf registered with the SEC or a state?**
Seaf is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161539.

**How much does Seaf manage?**
Seaf reports $187,071,506 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Seaf's assets and staff changed since 2021?**
In the Form ADV data for Seaf: Regulatory assets under management: $116,244,406 in the October 2021 data and $187,071,506 in the October 2026 data, up 61%. Total employees: 151 in October 2021 and 51 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Seaf serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10).

**Does Seaf report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(5) (another regulator's denial, suspension, or revocation of a registration or license, bar, or restriction). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161539

**What changed in Seaf's recent Form ADV filings?**
In the April 2026 filing data: No longer lists the business name Seaf Caucasus Management Ltd (Relying Adviser). No longer lists the business name Seaf Caucasus Partners Ltd (Relying Adviser). Changed its office addresses in Dakar. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $187,071,506
- Discretionary: $187,071,506
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $187,071,506 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Educational seminars/workshops

### Firm details
- Registered since: 2012 (14 years)
- Employees: 51 total, 40 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DC
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(5): Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161539

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- 1000 Skopje
- 11000 Belgrade
- Amsterdam
- Dakar
- Kingston
- Mohakhali Ca Dhaka
- Tallinn
- Tbilisi

### Websites listed on Form ADV (Item 1.I)
- ceed-global.org
- darajaimpact.org
- microvest.com
- seaf.com
- LinkedIn @microvest
- LinkedIn @seaf

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $116,244,406 | 151 | September 3, 2021 |
| October 2022 | $117,401,134 | 102 | March 31, 2022 |
| October 2023 | $119,955,962 | 48 | June 24, 2023 |
| October 2024 | $111,821,664 | 55 | April 18, 2024 |
| October 2025 | $200,102,273 | 51 | May 22, 2025 |
| October 2026 | $187,071,506 | 51 | March 30, 2026 |

Regulatory assets under management: $116,244,406 in the October 2021 data and $187,071,506 in the October 2026 data, up 61%.
Total employees: 151 in October 2021 and 51 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists the business name Seaf Caucasus Management Ltd (Relying Adviser).
- No longer lists the business name Seaf Caucasus Partners Ltd (Relying Adviser).
- Changed its office addresses in Dakar.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Seaf (CRD 161539): Form ADV filing data as of October 2026.