“At one time, the very idea of doing ESG—or double/triple bottom line-investing—could be considered catalytic,” says Rebekah Saul Butler, co-executive director and chief investment officer with The Grove Foundation. “Now, impact investing is becoming mainstream, enjoying increasing participation by governments, corporates, institutions, family offices, and individuals. In turn, the opportunity for catalytic capital is expanding.” She points to four key dimensions of catalytic capital: financial return targets, risk tolerance, timing and ecosystem. “Charitable institutions, in particular, are uniquely positioned to work creatively across these dimensions but doing so requires intentional policies and processes,” she writes in a blog for Impact Alpha. It is one of a series of Seeding Impact commentaries penned by seasoned impact investors participating in C3 Learning Labs.