This InSight analyzes ACCION’s experience with its guarantee fund, the Latin American Bridge Fund. It addresses the factors that helped or hindered its success and discusses the factors that led ACCION to revise the original Bridge Fund concept and create the new Global Bridge Fund in 2005. Among the questions this report addresses are: how well the Bridge Funds helped microfinance institutions access commercial capital, the sustainability of the Fund itself and the returns the Fund has provided to its investors.