A powerhouse coalition of impact investors hopes to build out the field through a donor collaborative launched last week with an initial $12.5 million in philanthropic capital. The mission of the new Tipping Point Fund on Impact Investing (TPF) is creating and scaling a high-functioning market that operates with integrity.

The U.S. Impact Investing Alliance will manage the work. Fran Seegull, its executive director, said that the fund comes at a time when impact investing is “tipping from margins to the mainstream,” growing by “leaps and bounds” in the last couple of years as even conventional money managers move to generate positive social and environmental impact alongside financial returns. Mike Kubzansky, CEO of the Omidyar Network, a major player in this space, said, “Impact investing has experienced remarkable growth over the past decade, but further scale requires continued investment in public goods that provide a foundation for all market players.”

The Global Impact Investing Network (GIIN) puts the size of the market at $502 billion across a diversity of asset classes, sectors, regions and investor types. Despite steep growth, Seegull acknowledges that the scale of capital in play “pales in comparison” to what’s needed to solve the world’s most pressing problems.