The Fund has established an independent Advisory Board to advise the Fund's Board of Directors on applications submitted to the Fund, and which have already been filtered by the Fund's management. The Advisory Board is chaired by Russell Mittermeier (Primates and Chelonians) and its members are:
- Michael Maunder (Plants and Fungi)
- Olivier Langrand (Birds)
- Allison Alberts (Non-chelonian reptiles)
- Anders Rhodin (Chelonians)
- Gina Della Togna (Amphibians)
- Axel Hochkirch (Invertebrates)
- Jean-Christophe Vie (Non-felid mammals)
- Ian Harrison (Fish)
- Jim Sanderson (Cats)
The Advisory Board is supported by William Konstant (Non-felid mammals) as Secretary.
Starting in 2024 the Advisory Board has also included a representative from the Global Environment Facility (GEF) reflecting the partnership thorugh the Fonseca Leadership Program.