In its broadest sense, the field of impact investing can be defined as an investment strategy that seeks to generate financial returns while also creating a positive social or environmental impact. Impact investing is attracting growing numbers of organizations and increasing amounts of money. By some estimates there are nearly 200 registered impact investment funds, and many foundations, networks, and mainstream financial institutions are active in the field. Impact investing contains a range of expectations about appropriate financial and social returns. Some investors are drawn by the hope of earning substantial financial returns by investing in businesses that have a social mission, while others are drawn by the desire to achieve more sustainable impact than they could achieve through philanthropy alone. Although the growing interest in impact investing represents an opportunity for the social good sector and an important source of growth capital for social ventures, the excitement that surrounds the field is a growing source of concern. Exaggerated claims raise expectations about the ability of impact investing to provide both outsized financial and social returns, something that is not always possible. So, what should investors be considering when looking to have a positive impact in the world through their investments?