In an era of globalization, public-private partnerships often tip too easily toward privatization, where global processes of consumption, production, and migration complicate the conditions and consequences of engagement in public life. Like the logic of service, the logic of activist capitalism underlying social entrepreneurship and microlending can threaten the ideal of a deep democracy where the goal is not to bring people from the margins to the center but instead to "destabilize" the hegemonic core. In this piece, the author interrogates the "new morality" of activist capitalism that universities are embracing in response to the "new work order" of fast capitalism, globalization, and neoliberalism. Drawing on an eighteen-month study with the Sudanese diaspora in Phoenix and focusing on a partnership with Sudanese refugee women in Phoenix who encountered microlending rhetorics and social-entrepreneurial practices in consultation with a Yale-based student-run microcredit initiative, this article suggests tools for feminist teachers and college students to democratize partnerships and to rewrite "doer/done-to" scripts of social entrepreneurship. In particular, this article makes the case for developing "critical transnational literacies" alongside "performative public literacies" and illustrates the intense need to recast community-university partnerships as "feminist collaboratives" that interrogate rhetorics and practices of activist capitalism "and" invent viable alternatives to them.