Blended Finance Accelerator for Fund Managers (A4FM)

Blended Finance Accelerator for Fund Managers (A4FM) is a grant from Convergence that funds fund and asset managers developing blended finance vehicles to mobilize institutional capital into emerging and developing markets. The program provides up to CAD $500,000 for full development stages (2–3) and up to CAD $260,000 for Stage 1 scoping grants, along with acceleration support.

Eligible applicants are fund managers or investment management firms; proposed vehicles must target ODA-eligible developing markets with a minimum target size of USD $50 million and at least 10% cost-sharing. The application deadline is May 25, 2026.

Blended Finance Accelerator for Fund Managers (A4FM) | Convergence Blended Finance Accelerator for Fund Managers (A4FM) Supporting fund and asset managers to develop and scale blended finance vehicles and mobilize institutional capital into emerging and developing markets.

Apply now in English or French ✓ I have read the eligibility guidelines and am eligible to apply ✓ I have read the Application and Review Process ✓ I am ready to receive A4FM and acceleration support Application and Review Process Interested applicants can start their application on our application portal .

Step 1 includes the completion of screening questions and the submission of an online concept note and supplemental materials (e.g., pitch deck) by the deadline date. Concept notes will be reviewed on an ongoing basis and therefore, applicants are encouraged to submit prior to the deadline.

All concept notes and supporting material will be screened against the eligibility criteria , and those that are eligible will then be reviewed against the evaluation criteria . Convergence will only contact applicants selected to submit a full proposal (Step 2). Unsuccessful applicants are notified.

Due to the high volume of applications expected, we regret that at this stage we are unable to provide feedback on unsuccessful applications. Step 2: Full Proposal (By Invitation Only) Selected concept notes will be invited to submit a full proposal. Those advancing to this stage receive instructions on how to submit a proposal.

Final proposals must be submitted by the deadline in order to be considered. All full proposals will be reviewed and assessed against the evaluation criteria by Convergence. Convergence may request additional information as necessary.

Step 4: Shortlisting, Pre-Due Diligence Interview, and Full Due Diligence Pre-Due Diligence Interviews : Based on the review, Convergence will short-list the top proposals for Pre-Due Diligence interviews. These interviews will be conducted with the applicant’s management team and will include a brief presentation using the materials submitted in the full proposal, followed by a Q&A session with the Convergence team.

Following the interviews, the team will short-list applicants for due diligence. Full Due Diligence : Shortlisted proposals will undergo two types of due diligence in parallel: Proposal-level : Convergence will request responses to detailed questions on the proposal, and introductions to key stakeholders for interviews.

Additionally, Convergence will request the applicants for key documentation to support the stage of the application Applicant-level : Applicants will undergo a compliance review led by Convergence’s Finance and Compliance team. All applicants will be required to submit key documents including incorporation certificate, audited financial statements of the last 2 years, organogram, financial model and pitch deck.

Additional documents may also be requested depending on the stage/type of the grant, such as proof of investor commitments, legal documentation, etc. Step 5: Investment Committee Shortlisted proposals that satisfactorily clear due diligence will be recommended by Convergence to the Investment Committee.

The Investment Committee is composed of independent experts who will recommend proposals to the Convergence Senior Management or Board for final approval. Shortlisted applicants that do not pass due diligence or IC approval are notified. Convergence may provide high-level feedback to the unsuccessful applicants.

Step 6: Final Approval by Board & Compliance Checks Proposals recommended by the Investment Committee undergo a final compliance check and review of the proposed grant budget Following that, the applications are reviewed for final approval by the Senior Management or Convergence Board.

Step 7: Contracting and Announcement Following final approval from the Convergence Senior Management or Board, the contracting stage is initiated with the selected awardees. Convergence will execute contracts with the selected awardees that includes the design activities and key milestones agreed upon with the awardees. Once contracts are signed, the announcement of the awardees will be made publicly.

Convergence may also announce the list of applicants that made it to the final stage but did not receive the grant funding, acknowledging high quality of ideas. Convergence will only consider one application per organization per funding cycle. Convergence is under no obligation to provide feedback on concept notes or proposals.

Concept notes and proposals must be submitted in English or French Follow our News and LinkedIn for updates. Join our mailing list to receive the latest updates on Convergence. Blended Finance Accelerator (formerly Design Funding)