The Global Impact Investing Network has announced that it is partnering with the Omidyar Network, the Rockefeller Foundation, and the United States Agency for International Development to promote and enhance the emerging field of impact investing.

The three-year collaboration seeks to increase the scale and effectiveness of the impact investing market and help sustain GIIN's leadership as a steward of the field. To that end, GIIN was awarded grants totaling $6.5 million by its partners to build out critical infrastructure and expand its educational and research efforts with an eye to attracting additional investment capital in support of poverty alleviation and environmental solutions.

Impact investments, which seek to generate positive, measurable social or environmental impact as well as a financial return, have been found to steer significant capital to market-based solutions in the areas of sustainable agriculture, affordable housing, health care access, "clean" technology, and financial services for the poor. Such investments typically are made in emerging and developed markets and target a range of returns, from below-market to market rates.

"The impact investing industry is at an inflection point as interest and practice broaden and offer new opportunities for coordinated market growth," said Luther Ragin, Jr., CEO at GIIN. "We are tremendously grateful for the support of Omidyar Network, the Rockefeller Foundation, and USAID as we work to expand the reach of impact investing."