Social impact investment specialists Christina Alfonso and Alexandra Cart have established an investment advisory firm called Madeira Global in New York to serve the high-net-worth individuals and family offices engage in impact investing.

Alfonso, founder and CEO of Madeira, is an international investment advisor and has several years of experience working the US, European, Latin American, Asian and African markets, according to Financial Advisor Magazine.

Alfonso has previously held several roles at Smith Barney, Forex Capital Markets, AllianceBernstein, Grameen Bank in Bangladesh and World Wide Investments Group in São Paulo, Brazil.

Madeira co-founder Cart has designed and managed philanthropic programs for organizations including the Tribeca Film Festival and Time 100, as well as for celebrity clientele.

Cart currently serves as a managing director of business development at G2 Investment Group in New York.

"There is growing interest in, but also a great deal of confusion surrounding, impact investing. We’ve found that many investors face similar challenges when it comes to impact, whether it’s defining one’s social or environmental objectives, making informed investment decisions within the impact universe, or simply understanding and accounting for associated risks," said Alfonso.

"Our goal is to help clients overcome these respective hurdles by developing investment strategies that fit within the framework of their values-based philosophies and overall asset allocations," she added.

The new firm provides measurement and reporting of social impact variables using the firm’s proprietary impact.