51545 - Acumen Climate Action Pakistan

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Summary of Investment Information

Project Number

51545

Company Name

Acumen Climate Action Pakistan Cooperatief U.A.

Date SPI Disclosed

May 4, 2026

Country

Pakistan

Region

Middle East

Projected Board Date

Jun 10, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Jun 15, 2026

Department

Regional Industry MAS MCT

Industry

Funds

Sector

Other Sector Fund

Additional Project Attributes

Blended Finance

Project Description

The proposed investment is a senior equity commitment of up to US$10m in Acumen Climate Action Pakistan Cooperatief U.A. (“ACAP” or the “Fund”). ACAP is Pakistan’s first climate-focused, agribusiness-oriented and closed-end private equity fund, targeting a total fund size of US$80m. The Fund is structured with (i) 66.25% senior equity, and (ii) a minimum of 33.75% junior equity. ACAP will target early-growth and growth-stage businesses with strong competitive positioning and high potential for market leadership across three priority verticals: (i) farmer platforms and financial solutions; (ii) smart farming; and (iii) post-harvest technologies. The Fund expects to make equity and equity-linked investments in 12–15 portfolio companies, with individual ticket sizes ranging from US$1m to US$7.5m. ACAP intends to drive value creation and impact through (i) support for investees’ organic growth via the provision of patient capital,(ii) targeted operational improvements, and (iii) ecosystem improvements via sector insights and knowledge and stakeholder convenings, enabled by a dedicated, grant-funded technical assistance program of up to US$10m. The project is expected to be supported by the UK-IFC Pakistan Climate Adaptation and Innovation Investment Facility for Pakistan (CIFPAK) as described in the Blended Finance Section.

Associated Advisory Engagement

IFC will support the Fund Manager in building the institutional capacity required to effectively deliver the Fund's investment strategy. The advisory scope is expected to cover the establishment of core practices and high-level processes across investment structuring, pipeline management, portfolio monitoring and valuation, exits, investor relations, and team development.

Sponsor / Cost / Location

Development Impact

The Project is expected to increase access to equity capital and support value creation for agri-focused businesses in Pakistan, where agriculture accounts for 23 percent of GDP and 37 percent of employment but faces rising costs and high exposure to climate risks, including flooding, extreme heat, and water scarcity. Pakistan ranks 151st out of 187 countries on the ND-GAIN Index, with over 80 percent of the population exposed to high climate-related risk. At a market level, the Project is also expected to strengthen Pakistan's nascent private equity market, which comprises four funds with approximately US$80m in assets under management, only one of which remains active, and has seen no new fund launches since 2018. By attracting a new mix of commercial and institutional investors, ACAP is expected to demonstrate the commercial viability of equity investing in Pakistan and catalyze future market activity.

IFC's additionality will be both financial and non-financial. IFC will provide US$10m own-account equity investment which will support the Fund in achieving a minimum viable first close of US$40m. IFC's role as a senior anchor investor is expected to help mitigate non-commercial risks by signaling confidence in the Fund Manager and catalyzing additional investor participation toward the Fund's US$80m target. IFC will also support the Fund to enhance its Environmental and Social Management Systems in line with IFC's Environmental and Social and Performance Standards. Moreover, IFC will support the Fund Manager in improving women's participation within portfolio companies, and in delivering workshops to promote women's skills development in Pakistan's agriculture sector.

E&S Category Rationale / Risks and Mitigation

The proposed Project consists of a senior equity investment of up to US$10 million in Acumen Climate Action Pakistan Cooperatief UA (ACAP). The Fund will primarily invest in early-growth and growth-stage agricultural businesses in Pakistan. The inherent E&S risks and impacts in the fund's investment activities are expected to be low to medium. As such, the Project has been categorized as FI-2 in accordance with IFC's Sustainability Framework. The Project will not support activities on the IFC Exclusion List, coal-related activities or higher-risk business activities including: (a) involuntary resettlement; (b) risk of adverse impacts on indigenous people; (c) significant risks to or impacts on the environment, community health and safety, biodiversity, or cultural heritage; (d) imminent risk of retrenchment that is significant, irreversible, wide reaching and with high community impact; or (e) significant occupational health and safety risks. For this Project, the Fund Manager will be required to screen prospective investments against the IFC Exclusion List, host country E&S laws and regulations, and higher-risk business activities.

The key E&S risks and impacts of the Project derive from the Fund Manager's capacity to manage the potential E&S risks and impacts associated with the Fund's investment activities and its E&S capacity and systems in place to manage these risks typically associated with labor and working conditions, waste management, agrochemical management, among others.

ACAP has an existing ESMS in place. The ESMS outlines the applicable requirements for prospective investments and the E&S risk assessment process, which includes pipeline screening, E&S due diligence (ESDD), E&S action plan (ESAP) development, and the management and monitoring of E&S risks. E&S responsibilities at the Fund will be managed by an E&S Officer that will be hired with primary responsibility and oversight of the Fund’s ESMS implementation. In addition, the Fund will need to update its ESMS and incorporate proper tools and checklists and conduct adequate training for staff. The Funds’ HR policies and procedures are largely aligned with national laws, though some adjustments will be made to align them with IFC PS2.

Contacts

For Inquiries About the Project, Contact

Acumen Climate Action Pakistan Cooperatief U.A.
Dr. Ayesha Khan
Managing Partner
+92-300-8232070
AyeshaKhan@acumen.org
Islamabad, Pakistan
www.acumen.org

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Corporate Governance: Investees where Fund Manager has Board Seat (%)	%		Not Available	Not Available	Not Available

	S.noTitle	Anticipated Completion Date
1	Updated ESMS	06/01/2026
2	Dedicated E&S resource hired	10/30/2026
3	E&S training for relevant staff completed	11/29/2026
4	HR policy updated	08/01/2026
5	Grievance Response Mechanism updated	07/01/2026

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