WaterEquity reached the $100 million mark for its Water and Climate Resilience Fund. The fund will make debt and equity investments in water supply and distribution and in wastewater treatment and reuse. Backers include Microsoft’s Climate Innovation Fund, Starbucks, Xylem, Gap Inc. and others.
The fund builds on WaterEquity’s four previous impact funds, which focused on household water access. WaterEquity is aiming to reach 15 million people.
The firm, which has $460 million in assets under management, was launched in 2016 by Gary White and actor Matt Damon to address underinvestment in water infrastructure.
Two billion people lack access to safe drinking water, and 3.6 billion don’t have access to sanitation services and facilities. Achieving universal water, sanitation and hygiene, or WASH, access will require a total of at least $6.7 trillion by 2030.
