Delaware-based MGF will fund early- and growth-stage businesses in the social sector, while meeting the rising interest of high net worth individuals and philanthropists in the field of impact investing, Madeira said.

“A grant to a for-profit social enterprise is an alternative to traditional philanthropy that can provide a more transparent and quantifiable gauge of effectiveness. It can also be an interim step for those considering impact investing,” said Madeira Global's founder and chief executive, Christina Alfonso.   

MGF said its mission is to fund for-profit social enterprises in sectors including basic resources, environment, renewable energy, education and arts, and health.

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