Deze content is in het Engels. Wil je meer informatie? Neem dan contact op!

The Challenge

Madagascar is one of the most biodiverse countries in the world, yet also one of the most climate‑vulnerable and economically fragile. High levels of poverty, reliance on natural resources, and increasing exposure to climate shocks place significant pressure on forests, coastal ecosystems, and agricultural landscapes.

At the same time, access to long‑term, patient capital for nature‑positive enterprises remains limited, particularly in least‑developed and high‑risk contexts. Emerging impact funds operating in these environments often face structural barriers in reaching first close and mobilising follow‑on investment, despite strong local pipelines and high potential for biodiversity and climate impact.

The Opportunity

MBCF seeks to address this gap by investing in businesses that combine commercial viability with positive biodiversity and climate outcomes. By supporting enterprises working across sustainable agriculture, forestry, aquaculture, renewable energy, and ecosystem restoration, the fund aims to strengthen climate resilience, create decent jobs, and reduce pressure on natural ecosystems.

With its strong local presence and experience in blended finance, MBCF’s Fund Manager is well positioned to identify and support high‑impact businesses operating in challenging geographies, where investment can deliver meaningful environmental and socio‑economic returns.

Origination Facility Support

Through the DFCD Origination Facility, DFCD intends to provide grant support of €200,000 to help de‑risk the fund’s establishment and strengthen MBCF’s investment readiness. The support will focus on activities such as:

• Strengthening environmental and social governance frameworks
• Enhancing impact measurement and management systems
• Supporting the development of a robust pipeline of nature‑positive enterprises
• Integrating biodiversity and climate adaptation considerations across the investment process

These activities will be carried out with the active technical involvement of WWF Madagascar, whose local expertise in biodiversity conservation, ecosystem management, and climate resilience is critical to ensuring that investment decisions are informed by on‑the‑ground ecological knowledge and aligned with long‑term conservation priorities.

Statement from Company Representative

“This pioneering fund comes at a critical moment, when biodiversity conservation, climate resilience, and inclusive economic development must work together to deliver on our 2030 roadmap.
Through DFCD’s support, WWF Madagascar is pleased to strengthen its partnership with MBCF by mobilizing finance toward enterprises that generate measurable positive outcomes for biodiversity, climate, and local communities. This collaboration will help translate conservation priorities into investable, high‑impact solutions on the ground.”

Santatra Razafindratsimba
Business Engagement Senior Officer & South West Indian Ocean programme Blue Finance Lead, WWF-Madagascar.

Statement from DFCD Representative

“This support comes at a pivotal moment in our fundraising journey. We are currently building strong momentum with prospective investors and advancing a robust pipeline of nature-positive businesses, but accelerating from this stage requires additional technical and financial resources. The DFCD Origination Facility provides targeted support to convert this momentum into a successful first close. We are therefore particularly pleased to receive this support at a time when it can have the greatest catalytic effect.”

Koloina RAMAROMANDRAY

MBCF Manager

Forecasted Impact

Following Origination Facility support to de-risk the establishment of the fund, MBCF will begin investing in its pipeline. From these investments, the projected impact over the lifetime of the fund (10 years) is as follows:

• 10,000 jobs created or maintained
• 400,000 people with improved livelihoods
• 30,000 Ha sustainably managed
• 5 million tons of GHG emissions reduced, sequestered or avoided
  
  

Looking Ahead

With DFCD support and WWF Madagascar’s technical expertise, MBCF will strengthen its capacity to finance nature‑positive enterprises that contribute to biodiversity conservation, climate resilience, and sustainable economic development. This partnership illustrates how blended finance and technical assistance can help unlock investment in regions where capital is most needed — and where it can deliver lasting environmental and social impact.