On February 5 and 6, 2006, ACCION International, Corporación Andina de Fomento (CAF) and Deutsche Bank, together with partner Developing World Markets hosted a conference in New York - “Who Will Buy Our Paper: Microfinance Cracking the Capital Markets?” More than 225 bankers, investors, money managers, investment funds and MFIs looked at recently completed local and international debt instruments, experiences of mainstream rating agencies with microfinance evaluations, the role of equity investment, and the challenges that remain to make microfinance investment an asset class. This InSight discusses the main themes of the conference. It describes successful cases of debt and equity financing in microfinance, at local and international levels, as well as exploring constraints and opportunities for the microfinance industry as it continues to seek more financing from the capital markets.