Mandala Capital has secured approval from the Green Climate Fund (GCF) for its Mandala Capital SSEA Food Fund, marking a key milestone in efforts to expand climate-adaptation financing across South and Southeast Asia’s agriculture sector. The decision was taken at GCF’s 43rd Board Meeting, with the Fund committing USD 36 million as an anchor investor in the USD 250 million blended-finance vehicle.
The fund is designed to attract private capital into climate-resilient agriculture and food value chains in a region where farming remains central to economic stability, employment, and food supply, yet faces rising climate-linked threats.
Mandala Capital says the GCF commitment demonstrates that private finance can be channelled into climate-resilient development with the right financial structures.
“For years, we’ve heard that private finance is hard to mobilize for climate adaptation, today, Mandala Capital and the GCF are proving otherwise. Through the SSEA Food Fund, concessional capital from GCF is unlocking, through Mandala, millions in private investment that will strengthen the resilience of thousands rural households across three Southeast Asian countries,” said Demetrio Innocenti, Climate and Gender Specialist at Mandala Capital.
The GCF investment aims to leverage further private funding that will be deployed to strengthen value chains and expand climate adaptation solutions. According to the firm, the programme will provide support to systems reaching more than 12 million people in South and Southeast Asia.
The initiative has drawn support from government stakeholders in the region. “This partnership demonstrates how blended finance can bring the private sector to the forefront of climate action, mobilizing investments that strengthen food security and build climate resilience across the Philippines and the region. The Philippines’ NDA welcomes Mandala Capital’s commitment to channel a portion of the fund’s investment into local initiatives, supporting innovative SMEs that can deliver real, scalable impact. This initiative … real, scalable impact. This initiative … accelerate resilience and transformation in the agrifood sector,” said Mr. Joven Balbosa, Undersecretary, International Finance Group, Philippines NDA.
The Mandala Capital SSEA Food Programme will target scalable and commercially viable companies tackling regional food-system challenges, such as rising prices, food waste, under-nutrition, productivity constraints, and growing demand for protein.
“With 15 years of experience, a team based in South and Southeast Asia, strong strategic partnerships, and a deal pipeline built through long-standing relationships, Mandala Capital is well positioned to deliver strong financial return while driving climate resilience.
The GCF investment reinforces the climate ambition and provides the blended finance structure needed to bring in additional private capital and scale transformative adaptation solutions across the region in the agriculture and food sector.” said Uday Garg, Founder and Managing Partner at Mandala Capital
The firm reports that it has exited 80% of investments from its previous funds, highlighting market-tested execution ability.
Kavita Sinha, Director of the Green Climate Fund’s Department of the Private Sector Facility, said: “The Mandala Capital SSEA Food Programme is strongly aligned with GCF’s strategy. It will strengthen food and income security by investing in small and medium enterprises 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 which will build long-term resilience.”
Mandala Capital will now move forward with raising the full USD 250 million fund, aiming to scale solutions across the region’s agriculture and food industries.
