WaterEquity invests in solar-powered irrigation company
WaterEquity has made the first investment from its Water & Climate Resilience Fund.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
WaterEquity, the global asset manager focused on mobilising private capital for water and sanitation, has made the first investment from its Water & Climate Resilience Fund, committing $5 million to Savant Group, the parent company of SunCulture.
SunCulture’s solar-powered water pumps offer an affordable alternative to diesel and manual water pumps in Africa. Designed for irrigation, the pumps are also used by more than 90% of customers to access groundwater for drinking, cooking, and cleaning.
The deal marks the launch of WaterEquity’s new private equity and infrastructure strategy, aimed at scaling growth-stage companies and infrastructure projects across the water value chain.
“This investment reflects a milestone in our new strategy to support projects and companies that address critical infrastructure gaps and also build long-term resilience against increasing water stress,” said Aleem Remtula, head of private equity and infrastructure investments at WaterEquity.
Samir Ibrahim, CEO and co-founder of SunCulture said, “WaterEquity understands that water investments don’t fall into a single box – scaling water infrastructure can deliver both incredible impact and strong commercial returns. We’re proud to be the first investment from their new fund and look forward to growing our business together.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now