Without attractive financial returns, there are no “good stories” about positive social and environmental impact. And there are no follow-on funds. In the late nineties, there was a current of social minded investors who thought that heavily subsidizing the industry and accepting non-attractive returns would still render a successful story in development. The opposite happened. Today, the investors looking for impact consider that attractive financial returns are part of such impact. And they are pushing to consider impact investments (those looking for a triple bottom line of financial, social and environmental returns) as a new asset class.