Blended Finance Accelerator for Fund Managers (A4FM) – Convergence

Enriched impact-investor · Found: 2026-04-20 13:14

Catalytic design grants and acceleration support for fund/asset managers to scope, structure, and launch blended finance vehicles in emerging and developing economies (LDCs and LMICs). Application deadline: May 25, 2026. Funded by Government of Canada. Supports portfolio diversification and sustainable development in emerging markets.

Source: https://www.convergence.finance/accelerator/a4fm

Funding Details

Funder

Convergence Blended Finance

Funding Goal

Support fund managers and asset managers in designing, launching, or scaling blended finance vehicles that mobilize institutional capital into emerging and developing markets (EMDEs). Grants cover activities from scoping through proof-of-concept to scale-up and expansion of blended finance investment vehicles targeting development impact in LDCs and LMICs.

Funding Amount

Stage 1 (Scoping): up to CAD $260,000 (~USD 190,000). Stage 2 (Proof-of-Concept/Pilot): up to CAD $500,000 (~USD 365,000). Funding in Canadian Dollars. Stage 1 grants are non-repayable; Stage 2+ grants are conditionally repayable. Grantees must contribute minimum 10% of total cost. (up to 365.000 €)

Deadline

2026-05-25 (Fixed)

How to Apply

Apply at https://www.convergence.finance/accelerator/a4fm/apply. Submit concept note by May 25, 2026. Reviewed on rolling basis. Application includes skill building, catalytic grant, and acceleration support components. FAQs available at https://www.convergence.finance/accelerator/a4fm/faqs

Target Region

Developing markets globally — OECD-DAC ODA recipients; strong encouragement for LDCs and LMICs.

Contact

Convergence Blended Finance; contact via https://www.convergence.finance/contact

Last Checked

2026-04-20 13:40

Application Checklist

Eligibility

• Applicant must be a fund/asset manager or investment advisory firm working with a fund manager
• Proposed blended finance vehicle must target OECD-DAC ODA recipient countries

Project Scope

• Solution must address a sustainability-aligned sector (climate, healthcare, education, gender, financial inclusion) with strong gender equality link
• Vehicle must demonstrate potential to reach minimum USD $50M target size

Required Documents

• Submit concept note via Convergence online application portal by May 25, 2026
• Provide proof of incorporation and financial statements for the previous fiscal year

Constraints

• Grantees must contribute minimum 10% of total project cost (cash or in-kind)
• Stage 2+ grants are conditionally repayable (not simple grants)

Summary

The Blended Finance Accelerator for Fund Managers (A4FM) is a programme by Convergence Blended Finance, supported by Global Affairs Canada, designed to help fund and asset managers build scalable blended finance investment vehicles targeting emerging and developing markets (EMDEs). Programme objectives focus on mobilizing institutional capital into developing economies, particularly least developed countries (LDCs) and lower middle-income countries (LMICs). The programme addresses barriers including limited track records, structuring complexity, and risk perceptions that prevent mainstream fund managers from participating in blended finance deals. Thematic scope covers any sustainability-aligned sector per the UN SDGs, including climate, healthcare, education, gender equality, and financial inclusion. Proposals must demonstrate a strong gender equality link. Blue economy, clean energy, digital infrastructure, and other high-impact development sectors are all within scope. Eligible activities span four grant stages: (1) Scoping — feasibility studies, structure design, market scoping; (2) Proof-of-Concept/Pilot — fundraising, legal documents, pipeline development; (3) Scale-up — improving investment processes post-operationalization; (4) Expansion — scaling to second financial close or launching new vehicles based on a proven model. Geographic scope targets all OECD-DAC ODA recipient countries globally, with preference for LDCs and LMICs. Eligible applicants are fund managers, asset managers, and investment management/advisory firms. Lead organizations must provide proof of incorporation and prior financial statements. Vehicles must demonstrate potential to reach a minimum USD $50 million target size and to mobilize private capital at scale. Grants range from CAD $260,000 (Stage 1 Scoping) to CAD $500,000 (Stage 2 Proof-of-Concept). Grants are non-repayable at Stage 1 and conditionally repayable at Stage 2+. Applicants must contribute minimum 10% of total cost. Concept notes accepted until May 25, 2026.

Historical Context

The A4FM programme is supported by Global Affairs Canada (GAC). It builds on Convergence's established track record in blended finance acceleration (formerly 'Design Funding'). Blended finance transactions involving fund/asset managers average ~$175M deal size. Fund managers have participated in only 21% of blended finance deals historically, which the programme aims to change.

Why it was added

discovered from funder #16: Convergence – Blended Finance Platform

Sources

• https://www.convergence.finance/accelerator/a4fm

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