ABSTRACT
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.”
