Former SAS soldiers are appealing for the funds to erect a statue in memory of their fallen comrades.
They want to place it in the special forces section of the National Memorial Arboretum at Alrewas near Lichfield in Staffordshire.
It would depict a Fijian and stand for all special forces soldiers who have lost their lives in combat.
SAS and SBS troops are already being honoured with their own section of the arboretum, a plot of 110 trees due to be planted this winter.
The soldier was called Laba and was killed in 1972 at the Battle of Mirbat in the Middle East.
He was mentioned in dispatches and some of his former comrades have campaigned for him to be posthumously awarded with the Victoria Cross.
The National Memorial Arboretum is dedicated to Armed Forces personnel and civilians who served in conflicts across the world.