For water and sanitation enterprises, WaterEquity funding is close to a category of one: an asset manager dedicated to directing private investment into the water and sanitation sector — investing in financial institutions, businesses and infrastructure in emerging and frontier markets that deliver safe water and sanitation to low-income populations, while seeking financial returns for investors. Since 2016 it has raised more than $510M in committed investment capital across six funds, reaching 10+ million people with safe water or sanitation.
Thesis and focus areas
WaterEquity covers the full WASH value chain: household WASH microloans (via financial institutions), growth-stage water/sanitation companies (equity and mezzanine), and water supply & sanitation infrastructure projects (PPPs, municipal PPPs, commercial and industrial projects). Instruments: equity, mezzanine and debt; ticket size USD 2M–15M; minority equity stakes; 5–7 year investment periods. Priority markets: Brazil, India, Indonesia, Kenya, Mexico, Peru, the Philippines and South Africa.
Fund size and cheque size
$510M+ committed across six funds since 2016 (official site). Its infrastructure fund holds a USD 110 million pool for investment-ready infrastructure projects and growth companies. Tickets: $2M–$15M.
Portfolio and track record
Named investments: SunCulture (Kenya) — WaterEquity's first growth-equity investment, solar-powered water pumps for rural Africa; KCB Tanzania ($15M loan, 2024, to expand water access); Golomt Bank (Mongolia) ($5M for rural water and sanitation); ACLEDA Bank (Cambodia) ($9M, 2024, for water supply and sanitation lending); and Pahal Financial Services (Ahmedabad, India) — $5M of debt to the MFI to on-lend to women borrowers for water/sanitation loans.
People behind the firm
Gary White and Matt Damon — founders of Water.org — established WaterEquity; Dr. Paul O'Connell leads the asset manager; Sridhar Sampath is South Asia Regional Director.
How to apply for funding from WaterEquity
This is one of the rare impact funds with a published application route: "Qualified investment candidates can indicate their interest through our online application form" at waterequity.com/infrafunding/ (official site). Early-stage project developers can also seek co-development support via WaterConnect, linked from the same page, and Water.org provides capacity-building and project-development pipeline support alongside the funds.
Why it matters for founders
WaterEquity matters because it proved $510M of private capital can be raised for water and sanitation — a sector most investors call uninvestable. For Indian WASH startups and MFIs with water-loan books, the infrafunding application form is a real, published front door. Fit the $2M–$15M ticket and the priority-market list, and apply directly.