Water | March 20, 2023

Incofin secures €36 million to invest in access to safe drinking water

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, March 20 – Belgian impact investment firm Incofin has launched the Water Access Acceleration Fund with €36 million ($38.4 million) from development finance institutions, banks, nonprofits and other organizations. The blended-finance fund aims to derisk water access solutions in emerging markets and crowd in private capital.

Less than 2% of impact venture capital over the past five years has gone to startups in water and sanitation, a recent survey estimates.

Incofin’s private equity fund will back water kiosks and water technologies, as well as new piping. The fund’s purpose is “to prove that the drinking water sector is investment-ready, even when targeting low-income people,” said Incofin’s Dina Pons.

Incofin is looking to reach 30 million people in Africa and Asia with its investments.

Incofin’s private equity fund will back water kiosks and water technologies, as well as new piping. The fund’s purpose is “to prove that the drinking water sector is investment-ready, even when targeting low-income people,” said Incofin’s Dina Pons. Incofin is looking to reach 30 million people in Africa and Asia with its investments.

Danone, BNP Paribas, the U.S. International Development Finance Corp., Danish development finance institution IFU, and Dutch nonprofit Aqua for All backed the Water Access Acceleration Fund. USAID provided catalytic first-loss funding. Incofin is looking to close the fund at €70 million ($75 million).

Last week, British International Investment and Metito Utilities announced a partnership to invest in commercial water and sanitation projects in Africa.