WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.” In particular, WaterEquity will seek to direct investments from the WaterCredit Investment Fund 3 to “enterprises that have significant capacity for scale, [and] a strong financial track record” in Cambodia, India, Indonesia, and the Philippines. Water.org Co-founder Gary White stated, “We’re hoping that more than 4.6 million people will get access to water and sanitation through this [newest fund].”
The fund, which is the third of its kind inaugurated by WaterEquity since its inception in 2016, has secured an interest-free loan of USD 5 million from US-based Bank of America. WaterEquity has invested in 69 microfinance institutions and other organizations.
Founded in 1990 by Matt Damon and Gary White, Water.org aims to provide access to safe water and sanitation in Africa, Central America and South Asia. Its WaterEquity arm connects investors to microfinance institutions (MFIs) and other implementation partners to work toward this goal. As of 2016, Water.org had USD 32 million in total assets and operations in 12 countries.
By Jacob O’Driscoll, Research Associate
Sources and Additional Information
WaterEquity Launches New $50M Social Impact Investment Fund
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.