Key Takeaways:
- The Green Climate Fund (GCF) approved Mandala Capital’s SSEA Food Fund at its 43rd Board Meeting.
- GCF committed $36 million as an anchor investor in the $250 million blended finance fund.
- The fund will drive climate adaptation and resilience in South and Southeast Asia’s agrifood systems.
- Investments will target scalable, climate-smart agribusinesses benefiting over 12 million people.
- The initiative demonstrates how blended finance can mobilize private capital for sustainable agriculture.
GCF Approves Mandala Capital SSEA Food Fund
Mandala Capital announced that the Green Climate Fund (GCF) has formally approved its SSEA Food Fund, committing $36 million as an anchor investor in the $250 million blended finance vehicle. The approval was confirmed during GCF’s 43rd Board Meeting.
The fund aims to accelerate climate adaptation and resilience across agrifood systems in South and Southeast Asia, regions that are highly vulnerable to climate-related disruptions but face persistent underinvestment in sustainable agriculture.
Addressing the Investment Gap in Agriculture
Agriculture contributes roughly 13% of regional GDP and employs one-third of the population, yet financing for climate-resilient practices remains limited. With climate change projected to reduce crop yields by 10–20% in the coming decades, Mandala Capital and GCF seek to channel capital toward innovative, climate-smart solutions.
“For years, we've heard that private finance is hard to mobilize for climate adaptation. Today, Mandala Capital and the GCF are proving otherwise,” said Demetrio Innocenti, Climate and Gender Specialist at Mandala Capital. “Through the SSEA Food Fund, concessional capital from GCF is unlocking millions in private investment that will strengthen the resilience of thousands of rural households across three Southeast Asian countries.”
Strengthening Food Security and Climate Resilience
The fund will mobilize additional private investment to scale climate adaptation solutions and reinforce value chains supporting over 12 million people across the region.
“This partnership demonstrates how blended finance can bring the private sector to the forefront of climate action,” said Joven Balbosa, Undersecretary of the Philippines International Finance Group and National Designated Authority to the GCF. “The Philippines’ NDA welcomes Mandala Capital’s commitment to channel part of the fund into local initiatives that support innovative SMEs delivering real, scalable impact.”
Investing in Climate-Smart Agribusiness
The Mandala Capital SSEA Food Programme will focus on profitable, scalable companies advancing climate resilience and food security. Its investment themes address key regional challenges such as food waste reduction, rising protein demand, malnutrition, and low productivity.
“With 15 years of experience, a team based in South and Southeast Asia, and a strong deal pipeline, Mandala Capital is well positioned to deliver strong financial returns while driving climate resilience,” said Uday Garg, Founder and Managing Partner of Mandala Capital. “The GCF investment reinforces our climate ambition and provides the blended finance structure needed to attract private capital and scale transformative solutions.”
Mandala Capital has a proven track record, having successfully exited 80% of its prior fund investments, underscoring its execution capability and investor value delivery.
Aligned with GCF’s Private Sector Strategy
“The Mandala Capital SSEA Food Programme is strongly aligned with GCF’s strategy,” said Kavita Sinha, Director of GCF’s Private Sector Facility. “It will strengthen food and income security by investing in SMEs that support climate-resilient agriculture across Southeast Asia. The blended finance structure will mobilize private capital into adaptation-focused investments via a sustainable financing model that builds long-term resilience.”
With GCF’s anchor commitment now secured, Mandala Capital is advancing the fundraise toward its $250 million target, inviting partners and investors to participate in scaling climate adaptation and resilience across regional food systems.
