Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

WaterEquity’s third fund reaches $33 million first close



ImpactAlpha, September 21 – WaterEquity, a subsidiary of Matt Damon’s Water.org, announced it has reached a $33 million first close for its WaterCredit Investment Fund 3 (WCIF3) almost 18 months after it raised the first slug of capital from Bank of America. 

The fund backs microfinance institutions and water and sanitation-based ventures like micro-utilities, toilet manufacturers, and water kiosks to improve access to clean water worldwide. Thirty percent of the world’s population lacks access to safe water and 60% lack adequate sanitation services, according to the World Health Organization.

The company’s first fund, which focused on lending to microfinance organizations, leveraged the $11 million raised to support improved access to safe water and sanitation for 320,000 people in India. It also returned 3.6% to investors annually.

The third fund is looking to reach 4.6 million people and return 3.5% to investors.

In addition to the $5 million in interest-free debt BofA committed last April, WCIF3 is backed by $20 million from OPIC, which was raised last September. The remainder has been committed by Ceniarth, Niagara Bottling, and the Conrad N. Hilton, Skoll, and Osprey Foundations. 

WaterEquity expects to announce a second close later this year.

You might also like...