DWM’s long and successful history in impact investing reflects the values and priorities that define our mission and underlie our organizational structure, the way we’ve built our team, and how we interact with our investors, investees, partners, and other stakeholders.


Founders Peter Johnson and Judy Kirst-Kolkman recognized the promise and value in emerging and frontier markets nearly 30 years ago and founded Developing World Markets in 1994. By the end of that decade, they had fully committed to impact investing in these markets. Since then, DWM has been a leader in proving that institutional-quality investing and sustained impact can go hand in hand.


DWM promotes an impact investing industry with high standards of measurability and transparency. We believe that the term “impact investing” should be used only when accountability is present. We proactively disclose our impact methodology and welcome outside review.

ImpactAssets Global 50 Impact Investing Firm

Eight-time designee

A+ for Strategy
and Governance

A+ for Strategy and Governance

UNPRI Assessment Report 2020, 2019, 2018, 2017

A+ for Direct
Inclusive Finance

A+ for Direct Inclusive Finance

UNPRI Inclusive Finance Assessment 2020, 2019

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