£20,000 is needed to restore the gravestone of Captain William Le Lacheur in London's Highgate Cemetery.
The Guernsey Society, which connects islanders around the globe, is behind the move to repair the grave in London's famous Highgate Cemetery.
They say it needs an estimated £20,000 of work to prevent it from collapse.
Captain William Le Lacheur was a trader whose Guernsey built ships opened up commerce between London and Costa Rica in central America.
He is well known in the central American country where there is a memorial to him and he is honoured with plaques in both Guernsey and at St Katherine's docks in London.
Keith Le Page is chair of the Guernsey Society and says Captain Le Lacheur is one of Guernsey’s great figures:
"Someone whose vision, compassion, and enterprise helped shape the future of another nation.
"His story deserves to be remembered, and his memorial preserved for future generations."
The head of Guernsey Museums, Helen Glencross, says they will support the initiative:
"Guernsey Museums recognises William Le Lacheur as an important islander who had an impact far beyond our island shores.
"With this in mind, Guernsey Museums are actively supporting the restoration of his headstone in Highgate Cemetery, and to encourage others to also support this important conservation."

User pays when Guernsey roads have to close
Channel Islander abandons Bordeaux as the flames 'arrive at the city's gates'
Annual Guernsey Scarecrow Festival set to raise thousands for charity
Channel Islands face 'physical' Poland test
Baby born on Guernsey's Marine Ambulance
New interim leader for Guernsey's healthcare system
Guernsey's reservoir levels falling after prolonged dry spell
Guernsey's Commonwealth flag carrier in early Games win