It may come as a surprise that impact investing has grown, not retreated, in the past two years. In its biannual state of the market report, the Global Impact Investing Network estimated today’s impact investments under management at $1.76 trillion – a $200 billion gain since 2024. That’s despite geopolitical headwinds, largely in the US, and market uncertainty that has made fundraising and exits a slog for many impact allocators and fund managers.