Convergence has awarded a proof-of-concept grant under the Asia Climate Solutions Design Grant to Mana Impact to design and launch Mana Blue Planet (MBP), a $50 million blended finance debt facility addressing the financing gap for nature-positive small and medium-sized enterprises (SMEs) in the blue economy across Southeast Asia, including Indonesia, the Philippines, Vietnam, Thailand, and Malaysia. The fund targets high-impact sectors linked to ocean health, including regenerative aquaculture, waste valorization, regenerative agriculture, and nature-based solutions, where SMEs remain underserved by traditional financing. The facility will provide flexible debt instruments including trade finance, working capital loans, asset financing, and project finance tailored to early- and growth-stage enterprises with revenue-generating business models.
A pilot facility was successfully launched with a first close from catalytic impact investors, with plans underway to scale into the full $50 million blended finance vehicle. The fund adopts a layered capital structure comprising senior commercial capital, junior concessional capital, and first-loss or guarantee mechanisms to de-risk investments and crowd in private capital. Alongside the financing facility, Mana Studios will provide technical assistance to strengthen investment readiness and portfolio resilience.
The fund was established to address the significant financing gap facing nature-positive SMEs in Southeast Asia. The region’s nature-based sectors face an estimated micro, small, and medium-sized enterprise (MSME) financing gap of around $70 billion, while many businesses remain underserved by both traditional lenders and venture capital due to limited collateral, long cash conversion cycles, and business models that do not align with hypergrowth equity expectations. Flexible debt financing addresses a financing gap for blue economy SMEs by providing non-dilutive, cash flow-aligned capital that supports sustainable growth while preserving founder ownership. MBP’s blended finance approach aims to bridge this “missing middle” by providing patient, flexible capital suited to on-the-ground realities.
Through financing SMEs, the fund aims to support around 50,000 beneficiaries, including farmers, fishers, and coastal communities, while contributing to reduced ocean pollution, ecosystem restoration, and more resilient coastal livelihoods. Since launching the pilot, MBP has already built a pipeline of more than 150 opportunities across biodiversity, ocean, agriculture, and climate sectors.
Design question and learning potential from the market: How can a flexible blended debt structure become a scalable financing solution for blue economy SMEs in emerging markets?
A pilot facility was successfully launched with a first close from catalytic impact investors. The pilot facility is intended to generate proof points around underwriting, repayment performance, and portfolio resilience in a sector where equity financing has historically dominated despite its limitations for many SMEs. By validating demand for debt financing from blue economy SMEs, demonstrating repayment performance, and strengthening institutional investors' confidence in the sector, the pilot aims to catalyze larger pools of public and private capital into Southeast Asia’s blue economy ecosystem.
The grant will support the legal structuring of the scaled vehicle, formalization of the fund management platform, pipeline development, investor engagement, particularly with commercial investors, and the development of a gender impact strategy.
