A group of family offices and foundations has announced plans to provide $12.5m in funding to participants in the financial services industry who are looking to build new impact investing initiatives.

The Tipping Point Fund on Impact Investing is being launched with the involvement of family office Blue Haven Initiative, plus the Ford Foundation, MacArthur Foundation and Omidyar Network, which anchor the initial pool of capital. The fund will make grants with the aim of creating and developing infrastructure to fuel the growth and integrity of the impact investing market. The effort was brought together by the US Impact Investing Alliance.

In particular, the fund is aiming to prioritize areas of impact investing that are not likely to be funded naturally through market activity.