In 1989, the year SEAF was founded, new democracies and free market economies had begun to arise from the ashes of communism and weight of old oligarchies. Elsewhere in the world, governments in the emerging markets also realized the importance of achieving growth through encouraging the growth of local small and medium enterprises. They looked to growing private sectors to achieve economic growth, reduce poverty, increase prosperity and help achieve political and economic stability. Investors also saw the opportunities represented by these growing enterprises, and were interested in participating