Incofin announces final close of water fund
The Water Access Acceleration Fund has attracted €61 million in committed capital.
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Incofin Investment Management has announced the final close of its Water Access Acceleration Fund (W2AF) at approximately €61 million in committed capital, exceeding its original target of €50 million.
As a private equity fund dedicated to improving drinking water access, Incofin seeks to bridge critical financing gaps across the water value chain globally. The fund attracted a broad group of impact investors, including international development finance institutions, foundations, family offices, and private investors.
“As the anchor investor and sponsor of the fund, we value Incofin’s ability to bring together investors with different profiles into the emerging sector of access to safe drinking water for vulnerable populations. They have created a strong and impactful ownership structure for this impact-first fund, which is now ready to impact at scale safe drinking water access,” says David Grolleau, CFO of Danone Communities.
“We appreciate Incofin’s experience in local emerging markets and their ability to offer diversification across regions and small-scale products, which effectively mitigates risks. Furthermore, Incofin’s early engagement with technical assistance and the development of a robust pipeline of vetted projects enabled us to commit confidently at an early stage, thereby lowering entry barriers for new investors,” says Nadia Scharen-Guivel, investment director at the US International Development Finance Corporation.
“The final closing of the Water Access Acceleration Fund is emblematic for all of us, as it reinforces the European Investment Bank, the Government of Netherlands and Incofin’s joint support to the water sector, where innovative investment solutions are much needed in the global emerging markets. The catalytic role of EIB in this blended finance structure, which benefits from the great support of both private and public investors, is undeniable. We welcome this partnership and wish Incofin success in deploying the Water Access Acceleration Fund,” says Irina Gaman, private equity investment officer at the European Investment Bank.
Aparna Pittie, deputy fund manager at Incofin, commented, “Access to safe and affordable drinking water is one of the greatest challenges of our time. We are proud to partner with such a committed and diverse group of investors who share our vision that catalytic investments in scalable, sustainable water businesses are an essential first-step to solving this problem.”
Incofin has already made investments, including in Spouts International in Uganda, which is expanding access to safe drinking water to underserved communities.
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