A fund launched on Thursday by a group of foundations seeks to provide collective support for the type of field-building work that will allow impact investing to grow “with integrity.”

As impact investing expands, it needs clarity around metrics and new policies, especially as concerns mount over new entrants into the field claiming the label but not achieving impact, according to the fund’s creators.

The Tipping Point Fund, which launched with $12.5 million in funding from a group of nine organizations, will have two central focuses to start: public engagement and public policy to help grow the industry; and data, metrics, and measurement to provide clarity as it develops.