The Belgium-based investment firm Incofin recently launched the Water Access Acceleration Fund (W2AF), a private equity fund with the objective of reaching 30 million people with access to safe drinking water, primarily in Africa and Asia. In particular, the fund will support companies providing services such as pipe infrastructure, water kiosks and clean-water technology.
W2AF has garnered EUR 36 million (USD 39 million) toward its goal of EUR 70 million (USD 75 million) in total commitments from a blend of investors including the Netherland-based foundation Aqua for All; France-based banking group BNP Paribas; France-based food company Danone; and development finance institutions affiliated with the governments of Denmark, Norway and the US. To encourage private investment in the fund, the US Agency for International Development (AID) is funding a first-loss tranche.
Incofin Managing Partner Dina Pons, commented, “…there are talented water company owners who know how to solve this problem [of access to safe drinking water] but can’t find an investor who aligns with their vision to help them scale up. That’s why Incofin created the Water Access Acceleration Fund (W2AF), to address the growth capital needs of these entrepreneurs, and to prove that the drinking water sector is investment ready, even when targeting low-income people.”
Founded in 2001, Incofin is a for-profit firm that seeks “to promote inclusive progress.” As of 2022, it had 350 investees in 65 countries, mostly active in financial inclusion and agriculture. Incofin has offices in Belgium, Colombia, Cambodia, India and Kenya. The firm’s portfolio is valued at USD 1.2 billion and comprises funds affiliated with organizations such as the Belgian cooperative BRS, the German firm Invest in Visions and Belgium’s vdk bank.
By Vaughn Rajah, Research Associate
Sources and Additional Resources
Incofin homepage
https://incofin.com
Incofin portfolio
https://incofin.com/portfolio
Aqua for All homepage
https://aquaforall.org
BNP Paribas homepage
https://www.bnpparibas.com
Danone homepage
https://www.danone.com
International Development Finance Corporation homepage
https://www.dfc.gov
Investment Fund for Developing Countries homepage
https://www.ifu.dk
Norfund homepage
https://www.norfund.no
USAID homepage
https://www.usaid.gov
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