Global Affairs Canada (HQ)

The Accelerator for Fund Managers (A4FM) - first call for proposal

Last update: Apr 15, 2026 Last update: Apr 15, 2026

Details

Location:Afghanistan, Albania, Algeria, A ...
Afghanistan, Albania, Algeria, Angola, Anguilla, Antigua and Barbuda, Armenia, Aruba, Azerbaijan, Bangladesh, Belarus, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, British Virgin Islands, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Caribbean Netherlands, Cayman Islands, Central African Republic, Chad, Chile, Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote d'Ivoire, Cuba, Dem. Rep. Congo, Djibouti, Dominica, Commonwealth of, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Eswatini (Swaziland), Ethiopia, Falkland Islands, Fiji, French Polynesia, Gabon, Gambia, Georgia, Ghana, Greenland, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Iran, Iraq, Jamaica, Jordan, Kazakhstan, Kenya, Kiribati, Kosovo, Kyrgyzstan, Laos, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Mayotte, Micronesia, Moldova, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, New Caledonia, Nicaragua, Niger, Nigeria, Niue, North Korea, North Macedonia, Pakistan, Palau, Palestine / West Bank & Gaza, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Rwanda, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sri Lanka, St. Pierre and Miquelon, Sudan, Suriname, Syria, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tokelau, Tonga, Tunisia, Turkmenistan, Turks and Caicos, Tuvalu, Uganda, Ukraine, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Wallis and Futuna, Yemen, Zambia, Zimbabwe
Grantmaking entity: Convergence
Grantmaking entity type:Other nonprofit entity
Status:Awarded
Budget:N/A
Award ceiling: CAD 500,000
Award floor: CAD 200,000
Sector:Private Sector & Trade, Financial Services & Audit
Languages:English, French
Eligible applicants:Private Sector
Eligible citizenships:Worldwide
Worldwide
Date posted: Jul 10, 2025

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Associated Awards

Description

Scope

Institutional investors manage well over $120 trillion globally, yet only a small fraction flows into emerging and developing economies (EMDEs), particularly least developed countries (LDCs) and lower middle-income Countries (LMICs). These markets represent the fastest-growing regions in the world, with GDP growth projected to outpace developed economies 2–3x over the next decade. From 2000 to 2022, capital market financing grew by 400% in middle-income countries and 800% in low-income countries. As a share of GDP, the amount in low- and middle-income countries has doubled.

EMDEs, including LMICs and LDCs offer:

  • Portfolio diversification: Reduce overall portfolio risk and offer potential downside protection during downturns in mature economies.
  • Access to higher growth: Can deliver superior growth potential due to favorable demographics, urbanization, and low valuations. These dynamics often translate into returns that outperform developed economies.
  • Opportunities in digital infrastructure and frontier sectors: Provide access to fast-growing, underserved sectors such as digital platforms and critical infrastructure –areas that are often saturated in developed markets enabling creation of higher impact.

Despite the opportunity, capital flows remain constrained by risk perceptions, limited track records, and structuring complexity. This is where blended finance becomes a powerful enabler by combining catalytic capital with commercial investment, managers can mitigate risk, align incentives, and make underserved market strategies investable at scale.

Blended finance transactions involving fund and asset managers are among the largest in the market, with a median deal size of ~$175 million. These structures demonstrate the ability of blended finance to mobilize significant volumes of commercial capital around institutional-scale opportunities. Yet despite this potential, mainstream fund and asset managers have participated in only 21% of blended finance deals to date, highlighting a vast untapped opportunity for scalable, replicable vehicles that can bring institutional capital into high-growth EMDE markets.

The Accelerator for Fund Managers (A4FM) is designed to help fund and asset managers capture this opportunity. Whether you are a first-time manager or an established firm entering new markets, A4FM equips you with the tools, expertise, and partnerships to create scalable, bankable investment vehicles. The program supports institutional investors in diversifying portfolios, entering high-growth markets, and gaining early access to frontier opportunities,while building lasting capacity for blended finance.

Close Date: 22 October 2025

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Funding agency:
EC
Status:
awarded
Location:
Afghanistan, Aland Islands, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Azores, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Canary Islands, Cape Verde, Cayman Islands, Central African Republic, Chad, Channel Islands, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote d'Ivoire, Croatia, Cuba, Cyprus, Czech Republic, Dem. Rep. Congo, Denmark, Djibouti, Dominica, Commonwealth of, Dominican Republic, Easter Island, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini (Swaziland), Ethiopia, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territory, Gabon, Galapagos, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg, Macao, Madagascar, Madeira, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, Netherlands, Caribbean Netherlands, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Niue, Norfolk Island, North Korea, North Macedonia, Northern Mariana Islands, Norway, Oman, Pakistan, Palau, Palestine / West Bank & Gaza, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Korea, South Sudan, Spain, Sri Lanka, St. Pierre and Miquelon, Sudan, Suriname, Svalbard, Sweden, Switzerland, Syria, Taiwan, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Türkiye, Turkmenistan, Turks and Caicos, Tuvalu, UAE, UK, US Virgin Islands, USA, Uganda, Ukraine, Uruguay, Uzbekistan, Vanuatu, Vatican City, Venezuela, Vietnam, Wallis and Futuna, Western Sahara, Yemen, Zambia, Zimbabwe
grant Background

About the Funding Agency

Global Affairs Canada  - manages Canada's diplomatic and consular relations, promotes the country's international trade and leads Canada’s international development and humanitarian assistance.

 

About the Sectors

Private Sector & Trade

Entails initiatives that promote entrepreneurship, strengthen competitive markets, and expand domestic and international trade opportunities.


Key areas:
  • Private sector development and SME/MSME support
  • Entrepreneurship, start-ups, and business growth initiatives
  • Trade facilitation, import/export, and market access
  • Commerce, retail/wholesale, and free trade mechanisms

Financial Services & Audit

Covers financial, banking, insurance, investment, and audit services related to the management, transfer, and oversight of financial resources.


Key areas:
  • Financial services, banking, and insurance
  • Accounting, auditing, and financial reporting
  • Investment, capital markets, and financial inclusion

Locations

Afghanistan

Afghanistan’s infrastructure base remains severely underdeveloped after decades of conflict, with major gaps in transport, electricity generation and water systems. Connectivity projects linking Central and South Asia have been viewed as potential drivers of trade and economic stabilisation. However, limited fiscal space, sanctions-related financial isolation and weak institutional capacity significantly constrain infrastructure financing and private investment. Sustainable development will depend on improved governance frameworks, regional cooperation and gradual restoration of investor confidence.

Nr. of tenders: 26494
Nr. of grants: 3130
Nr. of donors: 473
Nr. of jobs: 102

Albania

Albania focuses on road modernization, rail upgrades, port expansion, and energy infrastructure to improve regional integration and support economic growth. EU cohesion and pre-accession funds are a major source of infrastructure financing. Investments aim to strengthen trade links with neighboring countries and enhance tourism accessibility. Governance reforms, fiscal capacity, and project implementation efficiency remain critical challenges.

Nr. of tenders: 6822
Nr. of grants: 2721
Nr. of donors: 506
Nr. of jobs: 16
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