Theory of Change: #10: Is impact investing due for a reckoning?

Theory of Change: #10: Is impact investing due for a reckoning?

Twenty-five years ago, when Jacqueline Novogratz founded the impact investing nonprofit Acumen, she still had to prove that markets and entrepreneurship could work for people living in poverty — and help lift them out of it. In the years since, that has moved from a relatively fringe approach to fighting poverty, to the center of global development efforts. Development finance institutions, philanthropies, and asset managers are all looking for investable opportunities — and speaking the language of impact. But something else has happened to — or hasn’t happened — Novogratz said on Devex’s Theory of Change podcast. The institutions and individuals who could provide critical “patient capital” in the early, riskier phases when it is most effective, are not jumping in as needed. For Novogratz, it points to a needed reckoning for a social impact sector that has grown up, but still hasn’t realized its potential. “The capital that is available, and there's a lot of capital, is too expensive, it’s too risk averse, and as a result, we see a lot of talk and a lot of hand-wringing when we could be structuring that capital under the rubric of impact investing and really creating impact,” she says.

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Episoder(359)

This Week in Global Dev: #162: The Gates Foundation's latest AI pledge, and a look ahead to UNGA 81

This Week in Global Dev: #162: The Gates Foundation's latest AI pledge, and a look ahead to UNGA 81

This week, we report on the Gates Foundation’s 2026 Goalkeepers Report, which includes a $1 billion pledge to make AI more inclusive. The funding aims to expand access across health, education, agricu...

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Theory of Change: #14: Is the global humanitarian system collapsing?

Theory of Change: #14: Is the global humanitarian system collapsing?

In an interview on Devex's Theory of Change podcast, Alight CEO Jocelyn Wyatt warned that the traditional humanitarian business model is facing structural failure. Following the collapse of the U.S. ...

15 Sep 1h 9min

Special edition: The real funding gap isn't money

Special edition: The real funding gap isn't money

In this special episode of the This Week in Global Development podcast, sponsored by Rippleworks, Devex Senior Editor for Special Coverage Catherine Cheney sits down with Doug Galen, CEO of Ripplework...

15 Sep 32min

This Week in Global Dev: #161: Bypassing the traditional aid system: The big bet to end starvation

This Week in Global Dev: #161: Bypassing the traditional aid system: The big bet to end starvation

This week, we discuss our in-depth story on Operation End Starvation, a new initiative aiming to remake the global malnutrition supply chain. With a focus on cost-effectiveness, the project pairs publ...

10 Sep 35min

Theory of Change: #13: Is it OK to take 'tainted money'?

Theory of Change: #13: Is it OK to take 'tainted money'?

In the latest episode of the Theory of Change podcast, human rights activist Kavita Nandini Ramdas discussed the deep systemic contradictions of modern philanthropy, its uneasy relationship with grass...

8 Sep 1h 18min

The fight over $7.5B in expiring aid and a rejected State Department grant

The fight over $7.5B in expiring aid and a rejected State Department grant

We recently reported that roughly $7.5 billion in international affairs funding is set to expire by the end of this month. In a letter, more than 100 U.S. lawmakers have urged the State Department to ...

3 Sep 26min

Theory of Change: #11: Can communities help refugees where governments fail?

Theory of Change: #11: Can communities help refugees where governments fail?

In the latest episode of the Theory of Change podcast, Nazanin Ash, CEO of Welcome.US, discussed how community-driven sponsorship could revolutionize refugee resettlement, bypass political gridlock, a...

1 Sep 1h 16min

This Week in Global Dev: #159: The water sector’s funding challenge and Asia’s philanthropy push

This Week in Global Dev: #159: The water sector’s funding challenge and Asia’s philanthropy push

At World Water Week in Stockholm, financing took center stage ahead of the U.N. Water Conference in Abu Dhabi this December. The annual gathering saw around 2,000 participants discuss water governance...

27 Aug 30min

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