To reach the goals of the Paris Agreement, the 2030 Agenda for Sustainable Development and reach Net Zero emissions by 2050, a rapid decarbonisation of global energy systems, the unlocking of private sector capital flows and the building up of climate finance and renewable energy development capacity worldwide is needed. One of the primary challenges slowing the deployment of renewable energy assets in developing countries is the “early stage financing gap.” While the costs of early stage development are comparatively low, the risks and barriers for investors and developers are extremely high, dynamic and constantly changing—especially in frontier markets. The Seed Capital Assistance Facility (SCAF) is a public sector donor‐funded Project Preparation Facility (PPF) designed to address this challenge by supporting private sector investment entity managers and development companies working in high‑risk frontier markets in Africa and Asia.