Impact Investing, Social Enterprise and Global Development

Authored by: Dennis Stolz , Karen P.Y. Lai

The Routledge International Handbook of Financialization

Print publication date:  February  2020
Online publication date:  February  2020

Print ISBN: 9781138308213
eBook ISBN: 9781315142876
Adobe ISBN:


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Those who partake in philanthropic activities today make use of financial means to transform traditional ways of grant-making into a profit-oriented investment process called “impact investing.” Initially coming from the sphere of US philanthropy, impact investing developed into a vibrant financial market of global scale (Mudaliar, Bass, & Dithrich 2017). Over the last decade, the gradual shift of elite philanthropy into an immediate tool for profit-making had crucial consequences in practice: what was formerly a donation- or grant-based transfer of funds between a benefactor and a recipient now becomes an investment targeted at a problem. Resulting funds leverage upon what is called “social entrepreneurship.”

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