The notion of “impact investing” has been taking up the imagination of many investors and social entrepreneurs who are eager to create tangible social and environmental benefits while also generating financial returns. Looking at Brazil’s emerging impact investing sector, this exploratory project examines what it takes to take these markets off the ground. Specifically, we focus on the work of intermediary impact investing organizations who play a crucial role in connecting investors to impact enterprises or shaping the values and practices that define “impact.” We seek to understand their organizational trajectories, strategies, and struggles, their market-building efforts, as well as examine their various interfaces both with finance and with grassroots groups that are seeking to tap into financial circuits to advance various socio-ecological projects.

This collaborative project has been co-designed with researcher-practitioner Paula Pompeu (É Circular, Brazil), and constitutes a partnership between me, Paula, and Daniel Sanfelici (Universidade Federal Fluminense, Brazil).