The aim of the investors is to provide access to safe water and sanitation to 15 million people worldwide. Among them are Microsoft as the anchor investor through their Climate Innovation Fund, Starbucks, and Xylem as strategic investors.
September 10, 2024 (GLOBE NEWSWIRE) – Kansas City, MO Achieving a significant milestone in generating over $100 million for its Water & Climate Resilience Fund (the “Fund”), WaterEquity, an asset manager devoted to funding water and sanitation solutions in emerging and frontier markets, said today. Corporate, foundation, and institutional investors come together in this new private investment fund with the goal of promoting group action in the areas of water stewardship, sustainable development, and climate resilience.
A number of investors have contributed, including Starbucks and Xylem as strategic partners, Gap Inc., Ecolab, Reckitt, and Microsoft as an anchor Investment through their Climate Innovation Fund.
The Fund will invest both debt and equity capital in projects and growing companies that operate along the whole water value chain, including bulk water supply, water distribution, wastewater treatment, and water reuse. At its target fund size, the Fund expects to give 15 million people in Latin America, Asia, and Africa access to clean water and sanitary facilities. In order to satisfy the demand for household-level financing for water and sanitation, WaterEquity previously designed four impact funds.
This new Fund seeks to build on that foundation by financing the climate-resilient infrastructure needed by households to connect to essential services. The infrastructure strategy adds a new dimension: constructing climate resilience for populations at risk. Reaching this fundraising target has allowed the Fund more than half of its $200 million goal raised, which is a significant amount of money.