“What sets TransitionPlan apart is their ability to seize opportunities: opening doors, creating clarity, and helping us build the foundations for long-term impact in new markets.”

Gregory Donovan

Founder of Avondale Private Capital

Investing in Nature, Scaling Impact: A Conversation with Gregory Donovan, Founder of Avondale Private Capital

 

As the conversation around climate finance evolves, private capital is increasingly being called upon to bridge the funding gap in nature-based solutions. Gregory Donovan, Founder & CEO of Avondale Private Capital, sat down with us to talk about their Nature Impact Fund and why scaling environmental and social impact in emerging markets requires more than good intentions.

 
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Gregory, Avondale has a strong track record in credit structuring. What prompted the shift into impact?

 
We’ve always been focused on unlocking capital in complex or underfinanced areas. What we saw, especially in Sub-Saharan Africa and LATAM, was that impactful, scalable nature-based projects were stalling. Not for lack of ambition or science, but due to a structural financing gap. Most of these projects are simply too small or too early-stage for institutional debt, and equity alone isn’t sufficient or sustainable.
 
Our Nature Impact Fund is designed to address this — offering senior secured loans and minority equity investments to help projects cross that bankability threshold. In doing so, we’re not just financing carbon removal; we’re enabling resilient community development, biodiversity protection, and long-term ecosystem health.
 
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What does your typical investee look like?

 
We focus on project developers, often NGOs or impact-first enterprises, that are working on afforestation, ecosystem restoration, or sustainable land use. These are partners with a credible track record, deep local roots, and a clear pipeline for scaling.
 
We are looking for high-impact, high-integrity initiatives, but they need catalytic capital to grow.
 
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How do you balance climate mitigation with climate adaptation?

 
That’s a critical question. For us, it’s not either-or. Many of our investments are GHG-focused, but with clear co-benefits: improved food security, water access, gender equity, and resilient livelihoods.
 
Our KPIs reflect that. We track hectares restored, people benefiting from improved resilience, and ecosystem service improvements like water retention or biodiversity. This is where the Technical Assistance Facility plays a role providing support before and after investment to ensure projects are both viable and durable.
 
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You recently began working with TransitionPlan to support your entry into the European market. Why Europe and why TransitionPlan?

 
Europe has some of the most advanced regulatory frameworks and investor expectations when it comes to sustainability. We needed a partner who could help us navigate that landscape with both technical precision and strategic foresight. TransitionPlan came highly recommended through our Senior Advisor Sebastian Henrichs. 
 
Since the start they are helping us position the fund, ensure alignment with evolving disclosure requirements, and build credibility with European stakeholders. It’s been a true partnership, not just consulting. 
 
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What’s next for Avondale?

 
We’re focused on scaling in impact delivered, not just in terms of capital raised. That means accelerating deal flow, growing our technical assistance capabilities, and deepening partnerships on the ground.
 
Our vision is simple: to make high-integrity climate finance accessible, practical, and transformative. 
 
 
Interview by Martin-Sebastian Abel for TransitionPlan. Published June 2025