Climate Fund Managers began as a joint venture between Dutch development bank FMO and South African infrastructure investor Sanlam InfraWorks, and it finances infrastructure projects through their entire lifecycle—covering development, construction, and refinancing—rather than only funding projects once they're already running. The firm builds country-specific platforms such as GAIA in Africa and SDG Namibia One, and its projects tend to be hard infrastructure like water systems, waste-to-energy plants, renewable power, and green ammonia facilities in emerging markets, rather than software or other light-asset climate businesses.