In 2017, Convergence awarded Clarmondial a proof of concept design grant to develop and launch The Food Securities Fund (FSF), an open-ended private credit investment fund focused on providing working capital loans to sustainable local agriculture companies (e.g. cooperatives, traders, and processors). Today, we are thrilled to share that the FSF has officially launched and started operations.
The Food Securities Fund kicks off by making its first investment in coffee production in East Africa, reaching almost 4,000 smallholder farmers operating in agroforestry systems, utilizing organic and regenerative practices.
Learn more about Convergence’s design funding award to Clarmondial.
Convergence’s design funding program is the only funding program exclusively providing design stage grants for innovative blended finance solutions. Since the establishment of the program, Convergence has awarded USD 6.8 million in funding to 21 solutions, which have gone on to mobilize over USD 618 million from public, philanthropic, and private investors. Explore our open design funding windows.