Two social impact specialists have launched Madeira Global, a New York-based investment advisory firm specializing in impact investing.

Social impact investment professionals Christina Alfonso and Alexandra Cart have formed Madeira Global, a New York-based investment advisory firm specializing in impact investing for high net worth individuals and family offices.

Alfonso, founder and chief executive, is an international investment advisor whose experience spans the US, European, Latin American, Asian and African markets. She has previously served at financial services firms such as Smith Barney, Forex Capital Markets, AllianceBernstein, Grameen Bank in Bangladesh and World Wide Investments Group in São Paulo, Brazil.

Co-founder Cart has designed and managed philanthropic strategies for organizations such as the Tribeca Film Festival and Time 100, as well as for celebrity clientele. Her recent experience as the managing director of business development at G2 Investment Group in New York, includes working on comprehensive investment strategies.

Interest in impact investing has grown with the current market size estimated to be between $30 billion and $50 billion and the current renewable energy market to be roughly $250 billion, according to REN21, the Renewable Energy Policy Network. Both sectors are looking at sustained growth projection for the next decade, Madeira said.