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This report by I&P Ecosystems, commissioned by the CC Facility Learning Hub, analyzes the role of blended finance in supporting impact funds under $100 million that operate at the intersection of gender and climate in Sub-Saharan Africa. Based on a sample of 46 nexus funds, the study finds that blended finance is systemic to the sector, with 86% of these funds utilizing at least one blended finance archetype to launch and operate. While essential for de-risking and scaling, the report identifies significant inequities in access, noting that larger debt funds capture the majority of concessional capital, while early-stage SME funds and first-time managers are often excluded from meaningful support beyond small design grants and technical assistance.