Singapore, May 20, 2026 - Convergence announces the fourth cohort of its Asia Climate Solutions (ACS) Design Grant, at a networking reception hosted at the Australian High Commission during Ecosperity Week. ACS will support two new blended finance solutions targeting the blue economy and clean energy transition across Southeast Asia and South Asia with proof-of-concept and feasibility study grants.
The ACS Design Grant supports pioneering blended finance solutions focused on critical climate mitigation and adaptation sectors across Asia. The fourth call for proposals prioritized solutions mobilizing private capital to address climate vulnerabilities across specific sectors such as the blue economy and clean energy.
“We see strong demand from regional funders alongside significant unmet financing needs in these sectors” says Leah Pedersen, Senior Director, Blended Finance Accelerator at Convergence. “With these grants, the ACS program aims to help catalyze greater private investment into the blue economy and clean energy solutions, which are critical for Asia’s climate transition.”
The ACS program is supported by five anchor donors: the Monetary Authority of Singapore, Australia’s Department of Foreign Affairs and Trade, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation. It aims to demonstrate how catalytic capital from family offices, foundations, and donor agencies can unlock scalable blended finance approaches to bridge the climate financing gap in Asia.
Introducing the Grantees:
Mana Impact has been awarded a proof-of-concept grant to support the design and scale-up of Mana Blue Planet, a $50 million blended finance debt facility addressing the financing gap for nature-positive small and medium-sized enterprises (SMEs) in Southeast Asia’s blue economy. The facility targets sectors including regenerative aquaculture and agriculture, waste valorization, and nature-based solutions, offering flexible debt instruments such as trade finance, working capital, asset financing, and project finance. Its blended capital structure combines commercial, concessional, and first-loss capital to de-risk investments and mobilize private capital. It is complemented by Mana Studios, a technical assistance facility for strengthening investment readiness. A pilot facility has already achieved a first close from impact investors.
The fund aims to finance SMEs and support approximately 50,000 beneficiaries, including farmers, fishers, and coastal communities, while contributing to ocean health and ecosystem restoration.
This grant will support the legal structuring and formalization of the scale-up vehicle and fund manager, strengthen pipeline development, deepen engagement with commercial investors, and support the development of a gender impact plan.
Schneider Electric has been awarded a feasibility study grant to support the structuring of Schneider Electric Energy Access Asia II (SEEAA-II), a $60–80 million blended finance equity fund addressing the early-stage financing gap for clean energy ventures across South and Southeast Asia, including India, Indonesia, Vietnam, and the Philippines. The fund targets scalable, technology-enabled business models across energy generation, energy efficiency, energy management, circular economy, and green finance, using a blended finance structure in which junior concessional equity provides downside protection to commercial investors and helps mobilize private capital. It is further strengthened by Schneider Electric’s global network, providing technical expertise and access to a broad ecosystem of partners.
SEEAA-II builds on the success of Fund I, which raised and deployed approximately €20.9 million across 13 companies, demonstrating the commercial viability and impact potential of early-stage investments in underserved markets. The fund is expected to reduce around 3 million tonnes of CO₂ emissions, benefit 3.5 million people, and create approximately 5,000 jobs.
This grant will support the refinement of the fund’s blended capital structure and strengthen fundraising efforts through engagement with concessional and commercial investors by leveraging Convergence’s network.
About Convergence and the Blended Finance Accelerator
Convergence is the global network for blended finance. Convergence’s Blended Finance Accelerator (BFA) supports blended finance practitioners with design grants, acceleration support, and market intelligence to scope, structure, and launch new blended finance solutions that unlock commercial investment to accelerate sustainable development in emerging markets.
On top of market acceleration through the BFA, Convergence mobilizes private sector investment in emerging markets and developing economies by producing actionable data and guidance and convening key stakeholders. Convergence’s global membership includes ~200 public, private, and philanthropic investors as well as sponsors of transactions and funds.
Media Contact
Sijia Yi
Head of Communications
Convergence Blended Finance
[email protected]
