CRAFT - Catalytic Capital for First Private Investment Fund for Adaptation Technologies in Developing Countries

CRAFT - Catalytic Capital for First Private Investment Fund for Adaptation Technologies in Developing Countries

Climate change has and will continue to wreak wide-ranging damage on the environment and economy globally.  Up to USD 300 billion per year has been estimated for climate adaptation in developing countries by 2030, yet adaptation receives only 5% of all climate finance – and less than USD 500 million of private investment. As the first private sector investment fund for adaptation, CRAFT mobilizes capital to scale up technologies for climate resilience and adaptation and applies them in developing countries using a south-south technology transfer mechanism.

GCF’s commitment of USD 100 million in catalytic capital to CRAFT will allow the programme to scale up adaptation finance and accelerate development, application and transfer of private sector technologies in climate adaptation and resilience, particularly in the context of promoting green recovery from COVID-19.  Implemented with Pegasus Capital Advisors, the programme supports investment in six technologies (agricultural analytics, water harvesting and irrigation, food systems, geospatial mapping and imaging, catastrophe risk modeling, supply chain analytics) in six countries in Africa, Latin America and the Caribbean.

Total project value






Result areas

Project timeline


25 May 2020 - 501 days

Concept note received

25 May 2020

Funding proposal received

16 Mar 2021

Cleared by GCF Secretariat

19 Jul 2021

Cleared by iTAP

14 Sep 2021


07 Oct 2021 - 62 days so far

Approved by GCF Board

07 Oct 2021

Under implementation


Two regions

  • Africa
  • Latin America and the Caribbean

Six countries

Three priority groups

  • African States
  • Least Developed Countries
  • Small Island Developing States
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

EquityUSD 100,000,000
Total GCF Financing
USD 100,000,000


Co-FinancingEquityUSD 16,762,750
Co-FinancingEquityUSD 21,152,320
Co-FinancingEquityUSD 262,084,930
Total Co-Financing
USD 300,000,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 32 4458 6338 (KST)
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155 (KST)
Send e-mail

Accredited Entity

Pegasus Capital Advisors
Mr. Craig Myles Cogut
Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Mr. Brian Lawrence Friedman
General Counsel & Chief Compliance Officer
750 East Main Street, Suite 600 Stamford, Stamford, United States
More contacts

National Designated Authority

Ministry of the Environment and Housing
Mr. David Cates
Permanent Secretary, Ministry of the Environment and Housing
Charlotte House, 2nd Floor North Wing, Charlotte & Shirley Streets, Nassau, Bahamas
Phone +1 (242) 322 6005
Dr. Rhianna Neely-Murphy
Head, Climate Change Unit
Phone +1 (242) 397 9468
Secretariat for International Affairs, Ministry of Economy
Mr. Erivaldo Alfredo Gomes
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 2° andar, Sala 219, Brasília (DF), Brazil
Ministry of Finance and Public Credit (SHCP), Unit for Public Credit
Ms. Brenda Janeth Pequeño Vargas
General Director
Av. Insurgentes Sur 1971, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Alvaro Obregón, C.P. 01020, Ciudad de México, Mexico
Phone +52 (55) 3888 1819
Rwanda Environment Management Authority
Mrs. Juliet Kabera
Director General
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala
Director General
Phone +27 12 339 9007
Ms. Shahkira Parker
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung
Mr. Zaheer Fakir
Trinidad and Tobago
Ministry of Planning and Development
Ms Joanne Deoraj
Permanent Secretary
Level 14, Eric Williams Finance Building, Independence Square, Port of Spain, Trinidad and Tobago