Impact investing, which integrates financial returns with positive social and environmental outcomes, is a key component of sustainable development in Ukraine. An analysis of the history of this investment approach within the Ukrainian context reveals stages of socio-economic transformations against the backdrop of post-Soviet transition, economic crises, and political instability. To fully understand the development of impact investing in Ukraine, it is essential to examine the key events and initiatives that have contributed to the formation of this sector, as well as the contemporary challenges and opportunities arising in the context of global changes and local reforms. The historical roots of impact investing in Ukraine are traced not only to recent history but also to much earlier periods, including the 16th century in the western Ukrainian lands. In the context of social and economic transformations across different eras, manifestations of business social responsibility evolved as part of broader societal initiatives.