Key investors and philanthropic supporters of impact investing have joined forces to announce a new grant-making vehicle intended to strengthen the integrity of investing practices for social and environmental good, and to scale the movement to reach a broader array of investors.

The Tipping Point Fund on Impact Investing was founded with $12.5 million in grant funding provided by nine inaugural donors, seven of which incubated the idea with assistance from the U.S. Impact Investing Alliance, an awareness-raising group of investors and impact investing networks. The founding donors also include Ian Simmons and Liesel Pritzker Simmons ’ family office, Blue Haven Initiative, and a corporate member, the Visa Foundation.

By the TPF’s definition, impact investing spans an array of capital stakes made in public and private companies, and includes environmental, social, and governance approaches as well as responsible and sustainable investing.