The conversation about locally-led pooled funding has been happening for over a decade. What has been missing is not principles, frameworks, or ambition, but evidence – a concrete picture of what locally-led pooled funds actually look like: how many exist, where they operate, who governs them, and what they do. This briefing is based on research commissioned by NEAR and conducted by Themrise Khan, which identified 64 locally-led pooled funds operating across Africa, Asia and the Pacific, Latin America and the Caribbean, and the Middle East and North Africa. The mapping is not an exhaustive list. It is almost certainly a significant undercount. But it is, to our knowledge, the most focused picture of this landscape that currently exists. The research was conducted primarily to inform NEAR’s own strategic work on locally-led financing solutions – in particular, the development of a Networked Financing Mechanism that would connect locally-led pooled funds into a more coordinated and mutually reinforcing system. This briefing draws on that research, to speak to a separate but related question: what does this evidence mean for the funders and investors – bilateral donors, foundations, international intermediaries, as well as fund managers – who make decisions about where pooled funding flows? The findings point to a financing landscape that looks very different from how locally led pooled funds are often described.