Convergence is currently accepting applications for our Design Funding grant program. We award feasibility study and proof of concept grant funding for practitioners to design catalytic blended finance vehicles that aim to attract private capital to global development at scale.
To date, Convergence has awarded $5 million in funding to support 15 vehicles, which have gone on to raise over $200 million of investment from public, philanthropic, and private investors.
Grants have been awarded to support the design of vehicles in a diverse range of sectors and regions, including a $100 million fund to improve women's financial inclusion (Women's World Banking, the first green bank in a developing country (Development Bank of Sourthern Africa/Coalition for Green Capital), financing facilities for clean energy and smallholder livelihood projects in Indonesia (ADM capital/ADM Capital Foundation), and the world's first healthcare development impact bond for maternal and newborn health in Rajasthan India (Palladium).
For feasibility study grants, we reward up to USD 200,000 and up to USD 750,000 for proof of concept grants.
We have regular quarterly submission deadlines. The next deadline is 31 August.
Apply and view full eligibility and evaluation criteria here.
View our current grant portfolio here.