C4D Asia Fund Grant

About this grant

The C4D Asia Fund is the first impact investment fund managed by Capital 4 Development Partners BV, with a total size of USD 30 million. The fund has invested across India, Indonesia, the Philippines, Nepal, and Cambodia, making 29 investments in purpose-driven small and medium enterprises (SMEs). The fund is 100% committed to ESG-focused businesses, with 42% of its portfolio comprising women-owned or women-led companies. The fund's investment thesis is centered on three pillars: sustainable livelihoods for underserved communities, climate positivity, and gender equity. C4D Partners employs a gender-lens investing approach across all processes, encouraging and guiding investee companies to adopt gender strategies suited to their businesses. The fund targets growing SMEs that demonstrate the potential to create meaningful impact through their business models while delivering risk-adjusted, market-rate financial returns for investors. Sectors covered include financial inclusion, skilling and education, food manufacturing, waste management, and last-mile logistics, among others. The fund aims to contribute to the UN Sustainable Development Goals (SDGs), with portfolio companies collectively contributing to 15 of the 17 SDGs. The C4D Asia Fund is now fully committed (100% deployed), and Capital 4 Development Partners has since launched the C4D Bharat Shubharambh Fund, a USD 75 million India-dedicated successor fund continuing the same impact investment approach.

Eligibility

Eligible applicants are small and medium enterprises (SMEs) operating across India, Indonesia, the Philippines, Nepal, and Cambodia. Businesses must be purpose-driven with a focus on sustainable livelihoods for underserved communities, climate action, or gender equity. Companies should demonstrate meaningful impact through their business models and the potential to deliver value to stakeholders while generating risk-adjusted market-rate financial returns. Women-owned or women-led businesses are particularly encouraged. The fund has a preference for ESG-focused businesses.

How it's scored

Investment decisions are driven by three major factors: the potential to generate better livelihoods for underserved communities and enable inclusive economic development; the ability to address climatic challenges and contribute to sustainable development goals; and the integration of a gender lens into business operations. Applicants are also evaluated on their ESG credentials, alignment with the UN SDGs, financial viability, and growth potential. C4D Partners looks for businesses with both strong social-economic impact agendas and the capacity to deliver market-rate returns to investors.

Key requirements

• ✓Purpose-driven SME with demonstrated ESG credentials
• ✓Operations in India, Indonesia, Philippines, Nepal, or Cambodia
• ✓Alignment with financial inclusion, agriculture, waste management, logistics, or skilling/education sectors

Recent past awardees

Knowing who's won the last rounds tells you whether you're in the strike zone.

• Ananya Finance
• LabourNet
• Green Rebel
• Saahas Zero Waste
• Mirakle Couriers
• Freyr Energy
• 1Bridge · 2017
• Arohan Foods

Funder contact

The notice names a programme contact you can speak to before applying.

Frequently asked questions

How much funding does Capital 4 Development Partners BV offer?

C4D Asia Fund offers up to $30M.

Who can apply for C4D Asia Fund?

Eligibility covers organisations in IN, ID, PH, NP, KH; sme, social-enterprise. See the eligibility criteria above for the full conditions.

Relevant sectors

About this sector

Circular economy funding supports reuse, repair, remanufacturing, product redesign and secondary materials markets. Grants tend to back pilots with businesses and local authorities, while tenders buy collection, sorting and recovery services. Applicants are usually asked to show the material flows involved and who will buy the recovered output.