WaterEquity Announces Final Close of $150 Million Global Access Fund IV Addressing the Global Water Crisis
WaterEquity's Latest Investment Fund Will Deploy Mission-Driven Capital to Deliver Water and Sanitation Solutions for Millions of Low-Income Families Around the World
KANSAS CITY, Mo., September 15, 2023 (Newswire.com) - WaterEquity, an asset manager focused on solving the global water and sanitation crisis, today announced the final close of its latest $150 million impact investment fund, the Global Access Fund IV ("Fund IV").
The water and sanitation crisis remains a stark challenge for vulnerable communities in low- and middle-income countries, where millions still lack access to safely managed water and proper sanitation facilities. WaterEquity's Fund IV aims to deliver impact by channeling private investment capital to financial institutions and local enterprises that offer affordable water and sanitation products and services. The investments will pursue measurable social impact in the areas of water and sanitation access, gender equality, and financial inclusion while seeking a competitive return for investors.
"WaterEquity is proud to mark a significant milestone with the final close of the Global Access Fund IV," said Paul O'Connell, President of WaterEquity. "It solidifies our commitment to address the global water crisis through innovative financing and funding vehicles, building a bridge from capital providers to water and sanitation needs."
With a final close in July 2023, just four months after its initial close, Fund IV highlights the growing appetite of investors to allocate their capital in an impactful way. In this fund, five member companies of the Water Resilience Coalition — Starbucks (the fund's anchor investor), Ecolab, Gap Inc., Reckitt, and DuPont — have come together to invest alongside a $100 million commitment from the U.S. International Development Finance Corporation, the United States government's development finance institution. The fund also includes investments from wealth management firms such as Lazarus Financial Planning and impact investors Mary Estill Buchanan, Lynn White, clients of Align Impact, ImpactAssets, among others.
"Our investors help us to expand access to life-saving safe water at scale by mobilizing private capital to take collective action and put the needs of the most vulnerable front and center in their investment strategies. Through increasing access to water and sanitation, we can end the cycle of poverty once and for all," said Gary White, CEO and co-founder of WaterEquity and Water.org.
At its core, Fund IV directly contributes towards achieving UN Sustainable Development Goal 6, which seeks to ensure the availability and sustainable management of water and sanitation for all. Moreover, Fund IV is aligned with broader developmental objectives, including improved health, enhanced economic security, promotion of gender equality, and heightened climate resilience. Over the span of its anticipated seven-year term, Fund IV aims to improve access to safe water and sanitation for five million individuals across Asia, Latin America, and Africa. The fund will direct the majority of its capital to low-income families and women.
"Water underpins every major global challenge. Addressing the global water and sanitation crisis is one of the best ways to build resilience to climate change, achieve global gender equality, and improve health and education," said Matt Damon, co-founder of WaterEquity and Water.org.
WaterEquity is an asset manager exclusively focused on solving one of the most urgent issues of our time — the global water and sanitation crisis. Founded by engineer Gary White and actor/writer Matt Damon of Water.org, the success of WaterEquity is built on decades of experience investing in water and sanitation in emerging markets, seeking social and financial returns. Since 2016, WaterEquity has raised $350 million in committed capital across four funds, reaching more than 4.5 million people with access to safe water or sanitation. https://waterequity.com