My favorite books on investing for impact

Why am I passionate about this?

I am a Partner at Dalberg Global Development Advisors, where I lead a lot of our finance and investment advisory work with development finance institutions, family offices, and impact investors. I also serve on several impact investment and field-building organization advisory boards and regularly contribute to the ecosystem through thought leadership and speaking engagements at leading conferences. Over the course of my 20+ year career, I have played the role of advisor, investor, and technical assistance provider on more than 200 individual projects across the globe.   


I wrote...

Scaling Impact: Finance and Investment for a Better World

By Kusi Hornberger,

Book cover of Scaling Impact: Finance and Investment for a Better World

What is my book about?

The global challenges confronting us—climate change, poverty, inequality—can feel overwhelming. Those who believe in market-based solutions to these challenges get even more disheartened when we regularly see our existing capitalist system failing us. Many examples show how approaches like blended finance and impact investing can help accelerate progress against the world’s biggest remaining collective challenges. Yet, the use of these approaches remains far too subscale.

This book looks at how we can start scaling these necessary changes using strategies, structures, and practices that take advantage of capitalism's strengths. Its goal is to demonstrate how a reimagined financial system can shift away from extractive, short-term practices toward a system that creates long-term value for all stakeholders. 

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The books I picked & why

Book cover of Adventure Finance: How to Create a Funding Journey That Blends Profit and Purpose

Kusi Hornberger Why did I love this book?

This is a great practical read loaded with examples of all the innovative financing approaches that can be used to finance impact and social enterprises in emerging markets.

I had a chance to read and review the book before it was published, and I particularly appreciate how Aunnie is able to distill complex concepts into easy-to-understand prose. The structure of the book, which is organized around different innovative approaches and an extensive glossary of terms, is also very useful.

It is a great read for anyone interested in learning about and deploying alternative financing models. 

By Aunnie Patton Power,

Why should I read it?

1 author picked Adventure Finance as one of their favorite books, and they share why you should read it.

What is this book about?

The venture capital model doesn't work-at least not for 99% of startups and small businesses. In this 99% are a lot of companies with incredible potential: businesses headed by female founders and those from diverse racial backgrounds, organizations headquartered outside of venture capital hubs, and purpose-driven enterprises that are creating social and environmental impact alongside financial success.

Counter to what the press-savvy venture capital world would have you believe, there are a lot of funding options out there for startups and small businesses. Adventure Finance is designed to help you understand some of these options, and walk you through real…


Book cover of Viva the Entrepreneur: Founding, Scaling, and Raising Venture Capital in Latin America

Kusi Hornberger Why did I love this book?

This book is an excellent read for any entrepreneur who is looking for a firsthand account of the ups and downs of starting and growing a business in emerging markets.

I got to know Brian during my time living in Brazil and truly admire his story, as well as the candor and honesty that he brings to this book. Brian shares tons of funny and useful anecdotes, particularly as they relate to raising funding and negotiating with venture capital and private equity investors.

Filled with insight, this is a must-read for anyone starting a business or investing in startups that they hope to see scale and change the world. 

By Brian Requarth,

Why should I read it?

1 author picked Viva the Entrepreneur as one of their favorite books, and they share why you should read it.

What is this book about?

The entrepreneurial journey is lonely—especially if you’re looking to start a business in Latin America, where opportunities are ripe but resources are scarce. Brian Requarth is well acquainted with the challenges unique to this part of the world, having grown Viva Real from two people to over 500 employees, and tens of millions in dollars of revenue.

Now, Brian wants to help demystify the obstacles you’ll face, teach what you won’t learn in business school, and offer you inspiration and encouragement on your journey.

Viva the Entrepreneur shares the lessons Brian learned while building his company. He shows how to…


Book cover of Real Impact: The New Economics of Social Change

Kusi Hornberger Why did I love this book?

This is an inspiring read from a real changemaker.

Morgan is also someone I have had the pleasure of getting to know through the impact investing conference circuit, and I enjoyed reading her firsthand account of how she combined her social activist desires with the practical tools of finance and investment to create ‘real impact.’

One of my favorite sections of the book was on her early days and successes with shareholder activism. This book and her story are ones that many impact-minded leaders can learn from. 

By Morgan Simon,

Why should I read it?

1 author picked Real Impact as one of their favorite books, and they share why you should read it.

What is this book about?

Impact investment, the support of social and environmental projects with a financial return, has become a hot topic in the world's philanthropy and development circles, and is growing exponentially: in the next decade, it is poised to eclipse traditional aid by ten times. Yet for all the excitement, there is work to do to ensure it actually realizes its potential. Will impact investment empower millions of people worldwide, or will it just replicate the same failures that have plagued the aid and antipoverty industry?

Enter Morgan Simon. When she was a twenty-year-old college student at Swarthmore, Simon compelled Lockheed Martin…


Book cover of Crazy Is a Compliment: The Power of Zigging When Everyone Else Zags

Kusi Hornberger Why did I love this book?

I love the title of this book–it is thought-provoking in the right kind of way.

The book, which is more about Linda’s story of founding and building Endeavor, a community of entrepreneurs in emerging markets, and less about finance, is on my list because of the lessons it offers about what it takes to be successful in doing something difficult.

In the book, Linda encourages readers to embrace risk and unconventional thinking to achieve success. Not to be afraid if others think what you are doing doesn’t make sense if you believe in your purpose, have a strong network of support, and are willing to adapt and learn along the way. It's a great read for any impact finance leader. 

By Linda Rottenberg,

Why should I read it?

1 author picked Crazy Is a Compliment as one of their favorite books, and they share why you should read it.

What is this book about?

'Some books on entrepreneurship are of little practical use. Rottenberg's new book is different. Sober, convincing and offers the best ways to build new business ventures' Financial Times

'Linda has tapped into something important - that we all need to be more entrepreneurial these days. With her impressive track record and inspiring story, she shows us all how to overcome our fears and take smart, achievable steps to improve our organisations' Sheryl Sandberg

'Buy it. Read it. Live it' Seth Godin

These days everybody needs to think and act like an entrepreneur. We all need to be nimble, adaptive, daring…


Book cover of Manifesto for a Moral Revolution: Practices to Build a Better World

Kusi Hornberger Why did I love this book?

I recommend this book for any leader seeking to better understand their ‘why’. I have long admired Jacqueline Novogratz and Acumen and while not her most famous book, this one really gets deep into the inside of what motivates Jacqueline and the work she does at Acumen.

As someone who considers themselves to be values-led, I deeply admire how Jacqueline doesn’t shy away from the ethics of financing social and impact enterprises and instead leans in to explain her thinking in this book and to challenge our collective moral imagination about what is right.

It is also filled with useful examples and interviews with changemakers across the globe, which helps bring her work and the concepts in the book to life. A must-read for anyone interested in impact-first investing. 

By Jacqueline Novogratz,

Why should I read it?

2 authors picked Manifesto for a Moral Revolution as one of their favorite books, and they share why you should read it.

What is this book about?

"An instant classic." ―Arianna Huffington
"Will inspire people from across the political spectrum." ―Jonathan Haidt

Longlisted for the Porchlight Business Book of the Year Award, an essential shortlist of leadership ideas for everyone who wants to do good in this world, from Jacqueline Novogratz, author of the New York Times bestseller The Blue Sweater and founder and CEO of Acumen.

In 2001, when Jacqueline Novogratz founded Acumen, a global community of socially and environmentally responsible partners dedicated to changing the way the world tackles poverty, few had heard of impact investing―Acumen’s practice of “doing well by doing good.” Nineteen years…


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The Truth About Unringing Phones

By Lara Lillibridge,

Book cover of The Truth About Unringing Phones

Lara Lillibridge

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What is my book about?

When Lara was four years old, her father moved from Rochester, New York, to Anchorage, Alaska, a distance of over 4,000 miles. She spent her childhood chasing after him, flying a quarter of the way around the world to tug at the hem of his jacket.

Now that he is in his eighties, she contemplates her obligation to an absentee father. The Truth About Unringing Phones is an exploration of responsibility and culpability told in experimental and fragmented essays.

The Truth About Unringing Phones

By Lara Lillibridge,

What is this book about?

When Lara was four years old, her father moved from Rochester, New York, to Anchorage, Alaska, a distance of over 4,000 miles. She spent her childhood chasing after him, flying a quarter of the way around the world to tug at the hem of his jacket. Now that he is in his eighties, she contemplates her obligation to an absentee father.




The Truth About Unringing Phones: Essays on Yearning is an exploration of responsibility and culpability told in experimental and fragmented essays.


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