The search for new money is reshaping impact investing
With governments pulling back from development finance, impact investors are eyeing new markets and models — but the capital gap remains far beyond what private money can cover.
When aid plummeted last year, the development landscape started looking everywhere for funds: Europe, Asia, the Gulf, philanthropies, and impact investing. But no individual donor or industry looked able to fill the gap left by the drastic cuts.
“When USAID was disintegrated there was a lot of conversation among impact investors and particularly foundations, those that work in development finance,” Fran Seegull, president of U.S. Impact Investing Alliance, told Devex. “The sheer magnitude of the withdrawal, there would be no way, unless they were highly coordinated vehicles at scale, to really plug the gap.”
That’s still the case. As of the end of 2024, a Global Impact Investing Network survey of 368 investors showed that $448.2 billion out of a total of $13.1 trillion across all investment strategies was allocated to impact investing — just 3%.

This week, we’re sharing data from Devex’s job board, showing an overall hiring slowdown across the sector. Where opportunities do exist, they are often short-term assignments and mid-career roles.

Despite this, agriculture remains a hiring spot — and this week, we examine exactly where those openings are and highlight the latest new roles from the Aga Khan Foundation, the Global Green Growth Institute, and the World Food Programme.

For more insights and tips to help you navigate a highly competitive job market, tune into Devex Career Week, which kicks off Monday, Sept. 7. We’ll be bringing you exclusive reporting and events throughout the week — starting with a briefing with experts from ForAfrika and Catholic Relief Services on Tuesday. We’ll discuss the shifting development job landscape in Africa, where opportunities are emerging, and which roles and skills are in demand. Register now for this event.

Over the years, the foundation has increasingly relied on one major donor, the Hans Wilsdorf Foundation. But the funder tells Devex its support runs through 2026.
The WHO Foundation, which was created to raise additional funding for the World Health Organization, could be at risk of running out of money itself.
The foundation has ramped up its fundraising over the past two years and is expected to transfer over $100 million to the U.N. agency from 2026-2030 with over $42 million slated for 2026. But donor funding for its own operations, has not seen similar growth.
The WHO Foundation is not funded by WHO, and instead fundraises for its own operations. It also collects a percentage of the grants it receives for programs.