According to a statement from the World Bank Group member IFC, the equity investment fund will enhance the ability of small and medium enterprises to address challenges related to climate change. The fund is a part of the SEAF BV, supported by the Climate Investment Funds-Pilot Programme for Climate Resilience, which assists developing countries in building resilience to climate change. Established in 2010 by IFC and the Small Enterprise Assistance Funds, SEAF BV is focused on investing in SMEs. Hubertus Jan (Bert) van der Vaart, CEO and co-founder of SEAF, acknowledged IFC's crucial support in the fund's successful initiatives and stated that their involvement will enable the fund to start investing in climate resilience activities for small businesses, aiding them in dealing with the negative effects of climate change. The IFC stated that it had previously contributed $12 million in equity to the fund in order to stimulate investment in high-growth SMEs.