ADM Capital has announced the final close of the ADM Capital Asia Climate-smart Landscapes Fund (ACLF) at $48 million.
The blended finance vehicle, its first impact fund dedicated to climate-smart land-use financing in Indonesia, secured capital from a diverse group of institutional investors, development finance institutions, family offices, and foundations, the firm said in a statement.
The final close included an $8-million commitment from the Australian Government’s Australian Development Investments fund via Sarona Asset Management. That was matched by a $8.65-million commitment from Australian foundations and family officers, including the Minderoo Foundation, the Paul Ramsay Foundation, and the LEEAF Trust.
The Australian investors came in jointly under ADI Climate Partners, a vehicle managed by Ecotone Partners, ADM Capital said.
ACLF also benefits from a 50% asset-level guarantee from the US International Development Finance Corporation (DFC).
ACLF will provide long-term credit to small and medium-sized enterprises across the agricultural supply chains, with the aim of helping the businesses implement climate-smart practices to support more resilient food systems.
The fund’s impact objectives are embedded into its structure, ADM Capital said. Carried interest is linked to defined environmental and social performance targets.
