Stage 1: Scoping Grant

About this grant

The Blended Finance Accelerator for Fund Managers (A4FM) supports fund and asset managers to develop and scale blended finance vehicles that mobilize institutional capital into emerging and developing markets (EMDEs), particularly least developed countries (LDCs) and lower middle-income countries (LMICs). The program addresses the challenge that despite over $120 trillion in global institutional investment, only a small fraction flows into EMDEs, which represent the fastest-growing regions offering portfolio diversification, superior growth potential, and access to frontier sectors. A4FM provides skill building through virtual and in-person training, catalytic grants to support development from scoping through proof-of-concept to scale-up, and acceleration support including access to Convergence's network, market data, and technical feedback. The program equips managers with tools, expertise, and partnerships to create scalable, bankable investment vehicles while building lasting capacity for blended finance.

Eligibility

Eligible applicants include fund managers, asset managers, or investment management/advisory firms working in partnership with a fund or asset manager. Applicants must intend to scope, design, launch, and/or scale a blended finance vehicle in emerging and developing markets as defined by the OECD-DAC List of ODA Recipients, with vehicles particularly encouraged to target least developed countries and lower middle-income countries. Solutions must deliver clear development impact by addressing sustainability-aligned sectors such as climate, healthcare, education, gender equality, and financial inclusion, with a strong link to advancing gender equality. Solutions must show potential to mobilize private capital at scale and demonstrate that the financial structure can be replicated in other markets. The program welcomes both emerging adopters of blended finance and experienced practitioners.

How it's scored

Applications are evaluated on six criteria: Track Record and Capabilities, assessing the organization's relevant experience in designing and managing investment vehicles, commitment of the core team, and local presence or partnerships in target markets; Market Opportunity and Additionality, evaluating the clear market gap and rationale for blended structuring, potential to drive capital into EMDEs, and strategic use of A4FM support; Target Size and Potential to Scale, considering capital structure clarity, fundraising strategy, institutional and private capital participation, and pathway to scale-up; Development Impact, assessing the development impact thesis, targeting of underserved communities with a gender lens, and clear KPIs aligned with global standards; Commercial Viability and Path to Financial Close, evaluating bankability of the structure, progress toward closing, and governance frameworks; and Strategic Partnership and Stakeholder Support, examining support from key partners and well-defined engagement strategies. Detailed scoring information is available in the downloadable Evaluation Criteria document.

Key requirements

• ✓Develop a new blended finance solution with clear feasibility pathway
• ✓Conduct market scoping and stakeholder consultations
• ✓Perform impact analysis aligned with climate, health, education, gender equality, or financial inclusion outcomes
• ✓Define governance structure and vehicle design

Frequently asked questions

How much funding does Blended Finance Accelerator (A4FM) offer?

Stage 1: Scoping Grant offers up to $190K.

Who can apply for Stage 1: Scoping Grant?

Eligibility covers organisations in GLOBAL; nonprofit, social-enterprise, startup, consortium. See the eligibility criteria above for the full conditions.

Relevant sectors

About this sector

Climate fintech funding backs financial products and infrastructure that move capital to climate solutions, from green lending platforms to risk and disclosure tools. Support comes from innovation programmes, development finance and investors. Applicants are usually asked about regulatory approval, data sources and how the product reaches its users.