WaterEquity, the first-ever impact investment manager with an exclusive focus on ending the global water crisis, announced the closing of its flagship fund at US$50 million in total commitments. Investors include Bank of America, the Overseas Private Investment Corporation Ceniarth LLC, Niagara Cares, as well as the Conrad N. Hilton, Skoll, and Osprey Foundations.
Founded by actor Matt Damon and social entrepreneur Gary White, WaterEquity’s funds invest in a portfolio of financial institutions and enterprises in emerging markets—enabling them to scale, meet increasing market demand, and deliver access to safe water and sanitation.
“We are extremely pleased at the response to our fund and appreciate the confidence our investors have placed in WaterEquity’s ability to drive positive social and financial impact,” said Alix Lebec, EVP, Investor Relations.
The fund’s investments target sustainable returns with high credit quality and are organized around three components: financial inclusion, gender-lens investing, and social enterprise financing. By investing in financial institutions and water and sanitation enterprises throughout India, Indonesia, Cambodia, and the Philippines, the fund aims to help 4.6 million people gain access to safe water or sanitation.
As of December, the fund made five investments totaling nearly US$17 million to financial institutions in India, Indonesia, and Cambodia to scale their water and sanitation lending portfolios. These investments enabled nearly 90,000 people to access safe water or sanitation. With gender equality and economic opportunity underpinning WaterEquity’s investment strategy—92% of these investments directly supported women and 81% of these women earn less than $4 a day.
“With nearly US$60 million in assets under management between two funds that address a more than $1 trillion market opportunity, WaterEquity is building momentum with a planned launch of a larger, global fund,” said Tom Light, Managing Director.
WaterEquity is the first-ever impact investment manager dedicated to ending the global water crisis, with an exclusive focus on raising and deploying capital to financial institutions and water and sanitation enterprises in emerging markets. Co-founded in 2017 by social entrepreneur Gary White and actor Matt Damon, WaterEquity combines decades of financial and in-market experience to provide investors a unique opportunity to drive positive social and financial impact.
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