Convergence Blended Finance is a global, not-for-profit corporation headquartered in Toronto that serves as the leading network for blended finance. Its mandate is to increase private investment in emerging markets and developing economies in order to advance the UN Sustainable Development Goals (SDGs) and the Paris Agreement. Convergence brings together public agencies, philanthropic foundations, private investors, financial institutions, and project sponsors that are seeking to structure transactions where catalytic public or philanthropic capital unlocks larger volumes of commercial finance.
Role of Convergence in the funding ecosystem
Convergence plays a dual role as both a market builder and a direct funder. On the market-building side, it offers members access to the largest curated database of blended finance transactions, original research, data briefs, case studies, and training programs. On the funding side, Convergence operates the Blended Finance Accelerator and related design funding windows that provide early-stage grants to support the scoping, structuring, and launch of blended finance vehicles targeting the SDGs.
Through its design-stage grants, Convergence supports feasibility studies, proof-of-concept work, and expansion activities for funds and facilities in areas such as climate mitigation and adaptation, natural capital, gender-responsive finance, sustainable agriculture, and financial inclusion. Past and current initiatives include the Asia Climate Solutions Design Grant, the Indo-Pacific NGO Blended Finance Accelerator, the Blended Finance Accelerator for Fund Managers (A4FM), the Gender-Responsive Climate Finance Window, and multiple regional or thematic design funding windows in partnership with governments and major philanthropies.
General funding approach and target audiences
Grants are typically awarded to organizations or consortia—such as asset managers, financial intermediaries, foundations, not-for-profits, social enterprises, and corporations—that are developing scalable blended finance solutions. Eligible activities can range from market scoping and transaction design to legal structuring, financial modeling, fundraising support, and early pipeline development. Convergence emphasizes solutions that are catalytic, commercially minded, and capable of mobilizing private capital at scale into under-financed sectors in developing countries.
In addition to its own windows, Convergence implements or co-manages special initiatives and facilities, such as the Catalytic Climate Finance Facility in partnership with Climate Policy Initiative and the Innovation Window of the SDG Impact Finance Initiative. In these roles, it helps design the calls for proposals, evaluates applications, and manages portfolios of grants to climate and SDG-focused financial mechanisms.
Transparency, governance and selection processes
Convergence maintains clear thematic and geographic parameters for each funding window and publishes application timelines, eligibility rules, and evaluation criteria on the relevant initiative pages. An independent Investment Committee made up of seasoned practitioners reviews finalist proposals and guides decisions on grant awards to maximize impact and mobilization of private capital. The About section details the organization’s Board of Directors, investment governance, and anchor donors, which include bilateral agencies, multilateral institutions, and leading foundations.
Supported audiences and global footprint
Convergence operates globally with staff based in Toronto, Washington, DC, Nairobi, Kigali, La Paz, and Singapore. Its grant recipients and member institutions work across Sub-Saharan Africa, Asia, Latin America, and other emerging and frontier markets. By combining knowledge services, networking, and a portfolio of design-stage and acceleration grants, Convergence helps blended finance practitioners move innovative investment structures from concept to launch, ultimately channeling more private capital into high-impact sectors aligned with the SDGs.
