Investment in microfinance, particularly cross-border investment, is booming. Where is this investment coming from? How is it being absorbed? What types of advances need to occur to build a healthy infrastructure for debt and equity investments into microfinance? How do we manage the risks investors face? These questions were discussed as part of the second annual Microfinance Cracking the Capital Markets conference, hosted by ACCION International and sponsored by Credit Suisse. The conference highlighted the growth in microfinance investment, recent innovations in structured deals, and ways in which microfinance institutions (MFIs) need to develop to integrate more fully into the capital markets.