Fondation pour les Aires Protégées et la Biodiversité de Madagascar

What Fondation pour les Aires Protégées et la Biodiversité de Madagascar does

Fondation pour les Aires Protégées et la Biodiversité de Madagascar (FAPBM), established in 2005 under a Madagascar government mandate, is the country's largest private conservation trust fund (CTF). It operates as an endowment-based financing vehicle with a principal base of approximately USD 157 million invested in international markets, generating roughly USD 7 million in annual investment returns, of which about USD 6 million is allocated annually to financing protected areas. As of 2024-2025, FAPBM supports 75 protected areas covering more than six million hectares, working through a network that includes Madagascar National Parks (the primary operational counterpart), 19 international and national NGOs, and community-based organizations. The fund's 11-50 staff administers an expanding portfolio that increasingly extends beyond terrestrial PAs into marine conservation, agroforestry-linked livelihoods, and financial inclusion partnerships.

FAPBM's core products center on three vehicles layered onto its permanent endowment: (i) the long-term endowment providing stable annual disbursements to PA managers; (ii) restricted-purpose sub-funds — including the Accelerator Fund, Fire Emergency Fund, Community Fund, and the newer Marine Conservation Resilience Fund (MCRF) co-developed with WWF — each targeted at specific conservation outcomes; and (iii) grant-making and capacity-building programs delivered via grantees. Technical infrastructure includes the Madagascar Lemur Portal and a mobile application launched in 2024 to deliver biodiversity data and PA analytics to managers, researchers, and the public. The fund also tracks protected-area management effectiveness using METT (Management Effectiveness Tracking Tool) scores over a 20-year baseline.

FAPBM's business model is structurally non-commercial: revenue mechanics are driven by investment returns on the endowment corpus and by ongoing capital contributions from institutional donors, including KfW (Germany), AFD (France), the European Union, the World Bank, WWF, the Global Environment Facility (GEF), the Hempel Foundation, and Madagascar's MEDD. Go-to-market is institutional — bilateral and multilateral donor capital is raised to expand the endowment and restricted-purpose sub-funds; downstream "customers" are protected-area managers and communities receiving grants. Strategic positioning in 2025-2026 has broadened into blended finance vehicles, biodiversity performance instruments, green bonds, and carbon-market mechanisms, indicating a deliberate evolution from pure grant-making toward catalytic conservation finance intermediation.

Name

Fondation pour les Aires Protégées et la Biodiversité de Madagascar

Legal name

Fondation pour les Aires Protégées et la Biodiversité de Madagascar

Website

https://fapbm.org

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

FAPBM is Madagascar's largest private conservation trust fund, managing a USD 157 million endowment that annually disburses roughly USD 6 million to finance 75 protected areas, supporting Madagascar National Parks, NGOs, and communities across more than six million hectares.

Ownership category

akta.pro rank

Product category

Conservation Trust Fund Services

NAICS

Portfolio Management and Investment Advice (523940), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282)

akta.pro primary industry

Biodiversity, Conservation & Natural Capital Funds (FSANAJAG)

akta.pro secondary industries

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Sustainable Real Assets (Green Real Estate, Land, Forestry) Funds (FSANAJAD)

Keywords

• Conservation trust fund
• Protected areas management
• Biodiversity conservation finance
• Endowment fund management
• Environmental grant funding

Headquarters

HQ city

Antananarivo

HQ country

Madagascar

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others

Revenue model

1. Endowment Investment Returns: FAPBM's core model is an endowment fund. Capital of USD 157 million is invested in international financial markets. Annual returns (averaging over USD 7 million per year) are redistributed as grants to protected areas. Approximately USD 6 million is allocated directly to financing protected area management annually. The capital base remains intact over time, ensuring funding sustainability.
2. Grants and Donations from Institutional Partners: FAPBM receives capital contributions and grants from bilateral and multilateral donors including Germany (KfW), France (AFD), European Union, World Bank, and international philanthropic foundations. These contributions build and replenish the endowment capital base.
3. Program Management Mandates: FAPBM receives mandates to manage specific conservation funds, such as the GEF6-AMP project (approximately USD 6,209,404 for marine protected area expansion) and other project-specific funding from partners including WWF, FFEM, and the Hempel Foundation.
4. Blended Finance Structures: Through partnerships such as the Marine Conservation and Resilience Fund (MCRF), FAPBM participates in blended finance structures combining endowment, guarantee, and technical assistance facilities to mobilize private and public capital for conservation.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

FAPBM operates as Africa's first private conservation trust fund, managing an endowment of approximately USD 157 million invested in international financial markets. Only the generated investment returns (around USD 7 million annually) are disbursed to finance the long-term management of protected areas in Madagascar. The foundation currently funds 75 protected areas covering more than 6 million hectares of the country's unique biodiversity.

Differentiator

Problem solved

Functional benefit

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

14 partnerships are on record, tiered core, secondary and minor.

• WWF MadagascarcoreStrategic or Co-development Partner · 16 June 2026FAPBM and WWF Madagascar co-designed and are jointly implementing the Marine Conservation and Resilience Fund (MCRF), a USD 11 million blended finance facility for coastal communities. FAPBM, as national Conservation Trust Fund, plays a dual role in co-designing and supporting implementation of long-term marine conservation financing mechanisms, ensuring alignment with Madagascar's national conservation finance architecture.
• Ministry of Environment and Sustainable Development (MEDD) — MadagascarcoreStrategic or Co-development PartnerFAPBM maintains close institutional collaboration with MEDD, aligning funding with national conservation priorities. The two organizations hold strategic meetings to strengthen environmental governance, coordinate the Competency Development program, and integrate natural capital into public policies. MEDD also participates in FAPBM's Board and governance.
• BRIDGE Project (Consortium Africain des Fonds Environnementaux / CAFÉ and RedLAC, funded by FFEM)secondaryStrategic or Co-development PartnerBRIDGE is a joint initiative of CAFÉ and RedLAC, funded by FFEM (Fonds Français pour l'Environnement Mondial). The project aims to create strategic partnerships between the private sector and environmental funds like FAPBM to reduce the conservation financing gap.
• Conservation AlliessecondaryStrategic or Co-development PartnerThe FAPBM-Conservation Allies partnership, coordinated with MEDD, aims to build agent capacity and strengthen anti-corruption mechanisms (BIANCO, SAMIFIN) for more transparent and effective environmental management.
• Madagascar National Parks (MNP)coreStrategic or Co-development PartnerMNP is the key operational partner for national park management. FAPBM has funded MNP since 2007 and currently funds 42 of 43 MNP-managed protected areas. FAPBM finances surveillance, infrastructure maintenance, and visitor services, ensuring operational continuity.
• Tany Meva FoundationsecondaryStrategic or Co-development PartnerTany Meva is Madagascar's other major environmental foundation (created 1996). The two foundations are grouped within the Coalition for Madagascar Protected Areas, leveraging complementary financing for the country's protected area system.
• International Union for Conservation of Nature (IUCN)secondaryOthersFAPBM is a member of IUCN, contributing to and benefiting from the network's global conservation expertise, standards, and policy frameworks.
• Consortium of African Funds for the Environment (CAFÉ)secondaryOthersFAPBM is a member of CAFÉ, a consortium of African environmental funds that facilitates knowledge sharing, best practices, and collaborative financing across the continent.
• Conservation Finance AlliancesecondaryOthersFAPBM is a member of the Conservation Finance Alliance, which has developed 'norms of practice' for conservation trust funds including clarification, design, management, and monitoring/evaluation standards.
• Alliance Voahary GasyminorOthersListed as a member organization, FAPBM participates in this national environmental network in Madagascar.
• L'Association du Réseau des Systèmes d'Information Environnementale (ARSIE)minorOthersFAPBM is listed as a member of ARSIE, the Environmental Information Systems Network of Madagascar.
• Bôndy International S.A.R.LsecondaryStrategic or Co-development PartnerIn March 2026, FAPBM signed a MoU with Bôndy International and Baobab Banque Madagascar. Bôndy International contributes expertise in agroforestry and green supply chain development with digital technologies, supporting local economic initiatives with environmental and social impact.
• Baobab Banque MadagascarsecondaryStrategic or Co-development PartnerIn March 2026, FAPBM signed a MoU with Baobab Banque Madagascar and Bôndy International. Baobab Banque Madagascar contributes financial inclusion expertise and instruments to support high-potential local initiatives near protected areas, bridging conservation and financial inclusion.
• Ministry of Defense — MadagascarminorOthersFAPBM and MEDD are considering collaboration with the Ministry of Defense to deploy aerial resources (helicopters with Bambi bucket systems) for bushfire prevention in hard-to-reach protected areas.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Wildlife Conservation Society: Large international conservation NGO that operates site-based protected area management across multiple countries and channels long-term grant funding to field managers, structurally similar to FAPBM's PA financing mandate.
• Conservation International: Global biodiversity NGO that both contributed initial capital to FAPBM and operates similar conservation trust fund vehicles (e.g., CEPF) globally, overlapping with FAPBM on endowment-based biodiversity financing.
• World Wildlife Fund (WWF): Global conservation organization co-founding and co-implementing blended finance structures (e.g., the USD 11M MCRF) with FAPBM, and a long-standing funder and partner in Madagascar's protected area system.
• The Nature Conservancy: Global conservation organization operating a multi-billion-dollar endowment and protected area financing programs across many geographies; provides both a comparable capital base model and overlapping beneficiary base.

Direct peers

• African Wildlife Foundation: Africa-focused conservation trust/NGO combining endowment, donor grants, and protected area management in African biodiversity hotspots, comparable to FAPBM's Africa-leading role and beneficiary profile.
• Tany Meva Foundation: Madagascar's second major environmental foundation (established 1996). Operates a parallel conservation endowment/grant-making model in the same geography and is formally grouped with FAPBM within the Coalition for Madagascar Protected Areas, making it the closest functional peer.
• Blue Moon Fund: Private foundation deploying blended grants and program-related investments to biodiversity and climate solutions, overlapping with FAPBM's evolving toolkit of grants, blended finance, and impact investment instruments.
• Arcadia Fund: UK-based environmental philanthropic foundation funding biodiversity conservation, including in Madagascar, with a perpetual endowment-like model focused on long-term protected area outcomes.
• Critical Ecosystem Partnership Fund (CEPF): Conservation trust fund managed by Conservation International that channels grant funding from private donors (CI, GEF, etc.) to civil society and protected area managers in biodiversity hotspots — a structurally similar intermediary finance mechanism.

Emerging players

• FAUNA & FLORA INTERNATIONAL: Conservation NGO operating in Madagascar among other regions, providing parallel grant funding and technical support to protected area managers with similar donor base and conservation impact reporting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/fapbm
• Xx.com/FAPBM
• LinkedInlinkedin.com/company/fapbm

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fondation pour les Aires Protégées et la Biodiversité de Madagascar