Social finance in frontier and emerging markets requires distinct theoretical and practical approaches. This chapter examines how social finance initiatives navigate unique challenges and opportunities in these dynamic markets through institutional voids, adaptive innovation, and social-financial tension perspectives. Through analysis of four cases—Grameen Bank in Bangladesh, PRODEM and BancoSol in Bolivia, the Village Enterprise Development Impact Bond in Uganda and Kenya, and the Educate Girls Development Impact Bond in India—the chapter demonstrates how successful initiatives effectively bridge institutional gaps while balancing social impact with financial sustainability. This work contributes to theory and practice by developing an integrated framework for analyzing social finance in frontier markets, providing actionable insights for practitioners and policymakers working in challenging contexts.