Convergence and Asian Venture Philanthropy Network (AVPN) have deepened their partnership through a strategic framework to expand the use of blended finance as a tool for accelerating the flow of capital towards impact in Asia and advance the Sustainable Development Goals (SDGs) in the region.
This deepened partnership is part of Convergence’s strategy to grow its influence in Asia, with the recent appointment of Ritesh Thakkar as Convergence’s new Asia Senior Advisor and the establishment of our presence in Singapore.
As the leading ecosystem builder and social investor membership network in Asia, AVPN and its 600+ members from 33 countries move capital towards impact in Asia. AVPN’s team of 92 staff across Asia provide learning programmes and innovative approaches to social investment to foster collaborations among social investors and ensure that resources are effectively deployed. AVPN is a registered charity based in Singapore.
This partnership framework will expand on an existing MoU between Convergence and AVPN and includes activities such as:
Collaborating on mobilization of philanthropic capital towards the upcoming Asia Climate Solutions Design Grant, which will provide early-stage grants for high-impact climate financing solutions in emerging markets in Asia.
Learning and knowledge building, with concrete plans to develop and manage a blended finance learning and development program, in addition to closer collaboration on generating blended finance content with a regional focus and expanding thought leadership in Asia.
Leveraging each other's networks and mutual expertise to convene key actors in the region at conferences, roundtables, and workshops, with the aim of strengthening the blended finance ecosystem in Asia.
“To help grow our influence in the region, AVPN’s vast network and deep expertise in social investment made them an obvious partner,” says Joan Larrea, Convergence CEO. “There’s huge untapped potential for blended finance in Asia and I’m excited that Convergence will have a role in helping to unlock this potential.”
“The majority of AVPN members engage in philanthropy and impact investing, and this partnership with Convergence will help us bridge the AVPN community into blended finance opportunities in Asia,” says Naina Subberwal Batra, AVPN CEO. “We see these as key conduits to implementing the large-scale projects that will move us closer to attaining the SDG and Net Zero targets in Asia.”
“Asia is an increasingly prominent destination for blended finance,” said Ritesh Thakkar, Senior Advisor, Asia Pacific, at Convergence. “This deeper partnership will enable Convergence and AVPN to more effectively grow awareness of the potential of blended finance and ultimately mobilize private capital at scale towards sustainable development in the region.”