How can philanthropy catalyse systemic change in an era of global crisis? As the world grapples with escalating climate risks, widening inequality, and shifting global power dynamics, traditional approaches to development finance are becoming insufficient. This book explores how philanthropy, as risk capital, can de-risk investments, unlock private capital, and drive transformative, multi-sector partnerships to tackle the most pressing global challenges. Bringing together real-world case studies and expert insights, it highlights blended finance models, climate adaptation strategies, and innovative approaches to sustainable development. The authors reveal how emerging markets are leading in catalytic finance, how philanthropy can scale green investments, and why collaboration is the only path to meaningful impact. A must-read for philanthropists, investors, policymakers, and development leaders, Catalytic Capital offers practical frameworks to harness the power of finance for a more resilient, inclusive, and sustainable global economy. This title is also available as Open Access on Cambridge Core.

‘This book is a must-read for all those seeking to understand the role that philanthropy can and should play in an era of multiple, overlapping global crises. With highly respected editors and thirty expert contributors, this volume provides an essential guide for everyone interested in the tools and ideas needed to shape a better world.'

Beth Breeze - Director of the Centre for Philanthropy, University of Kent

‘Philanthropy's greatest potential lies in its ability to take risks, and catalytic capital is an effective way to scale solutions and drive real impact. True transformation comes from bold, high-risk moonshot bets that look to create disruptive impact. This is essential reading for anyone seeking to harness their resources as a force for social and economic transformation.'

James Chen - Philanthropist

‘This book is the needed wake-up call for philanthropic giving to look at how redefining philanthropy can drive resilience worldwide. Thanks to this kind of catalytic philanthropic giving our Center devised and implemented first-of-its-kind, pioneering solutions for climate resilience that directly benefit people and communities.'

Jorge Gastelumendi - Senior Director of the Atlantic Council's Climate Resilience Center

‘We are in an unprecedented period of instability and insecurity, which demands bold action. And philanthropy – specifically, catalytic capital – can help. Sharing the experiences of leading practioners around the world, this book offers tangible examples of how philanthropy can unlock the trillions needed to address our deepening climate crisis while keeping people at the centre. I hope these vignettes continue to inspire and activate more catalytic funders – donors, family offices, corporate social investors, and more – to step up.'

Leslie Anne Johnston - CEO, Laudes Foundation and Chair, Impact Europe