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1
Committed Beyond Investment
Water Access Acceleration Fund
(W2AF)
11th Round Table on Financing Water
May 30th and 31st 2024
2
We invest for impact to drive inclusive progress
and sustainable transitions
3
Introduction – Incofin Invesment Management
European AIFM licensed asset manager, we have 20+ years of experience investing emerging markets for impact
210
1,111
115
AUM (USD Million)
1,436
Financial Inclusion Debt
Private Equity Agri Debt
16%
AUM CAGR in the
last decade
USD 4bn
invested since
inception
financial inclusion
agri-food
access to water
Sector Focus
Asset Under Management (Q4 2022) Highlights
USD 9m 159
TA projects
investments
TA projects
completed
2k
number of
transactions
186
Active
investees
65
Active
Countries
> 90
Employees
2001
Founded
5
Offices
4
We have built long lasting relationships with a wide range of investors*
DFIs
Institutional investors, family offices and corporates
Banks
Advisor to top 10 Microfinance Investment Funds
*The names listed here include previous and existing investors in various Incofin funds
5
THE PROBLEM (1):Today, over 2 billion people globally lack access to safe
and clean drinking water.This implies that…
…for every 3 people with access to safely
managed drinking water…
…there is 1 person without access to it
6
Source: 1) Water.org, Financing SDG 6
THE PROBLEM (2):Today, many water businesses have a proven business
model. But, when they look for funding to scale, there is a lack of adequate
capital solutions available….
The funding ecosystem for PRIVATE PLAYERS looks like that…
Incubation
Grant
Project donation
Innovation
Piloting
Seed Capital
Venture Capital
Pre-Series A-
Series A
Scaling
Equity
Series B-C
Financing gap
New Idea
Proof of
concept
Ready for
investment
Scale up
7
THE PROBLEM (3): Meanwhile, capital is available, but the ecosystem is fragmented
As a corporation, we
have a CSR budget but
I dont know how to
select the right water
businesses, i dont
have enough « on the
ground » knowledge
As a public funder, we
can offer de-risking
capital but it needs to
catalyze private
investors financing.
As a foundation, we
are used to grant
funding, I dont see
how I could invest into
a vehicle which is not
a grant facility?
As a bank, we have a
water investment
strategy, but cannot
take too high risk and
the water sector is
seen risky
8
THE SOLUTION (1): W2AF is the first global impact investment fund focused on
access to drinking water to low income population !
Impact Objectives
Financial Objectives
The Fund wants to provide at least 20 billion
litres of safe drinking water to 30 million people,
a majority of them, living below USD 8/day
The Fund has ambitious Gender and Climate
strategies
The Fund provides equity and quasi equity
financing to water businesses globally, we
support market based solutions!
The Fund wants to prove the investment
readiness of the sector
9
THE SOLUTION (2):W2AF is an innovative blended finance structure…
USD 16.3 m
EUR 19.1 m
EUR 32.1m
EUR 51.4 m
EUR
0.4m
• W2AF pools together a diverse
group of investors, private,
public, institutional, individual,
foundations, bank, etc
• A unique first loss cushion
maintained at > 20% for de-
risking the fund and attract
private investors (family office +
bank)
10
Headquarters Regional offices
Investments
How do we do it: W2AF already has a global reputation !
11
2500+ water treatment plants
installed cover 12 Indian states
Community Water Plants
Power pump / Solar pump
based / Hand pump based
Operation & Maintenance
Water Supply Schemes
Rural Water Supply Schemes
Mini Water Supply Shemes
(solar based)
Water Treatment Plants
High capacity up to 200
m3/hr
Key Solutions Offered Key Metrics
Footprint
Our results so far (1): First Investment: RiteWater Solutions (India)
31% | 22%
EBITDA margin | Net
profit margin
EUR 16.7 m
Revenue
*December 2023 Figures
1.5bn
Drinking water liters
provided
2.3m
People where 50% are
female
12
Business Model Key Metrics
Footprint
100 mn+
liters water filtered
Sustainable sourcing
Factory strategically located
close to main raw material - clay
Carbons Credits Generation
Significant additional income
through partnerships with
companies, development
programmes, etc.
Distribution
B2C & B2B though 40 sales
agents
Local production
10,000 filters produced per
month to be increased to 70.000
with the expansion of the factory
150,000
Carbon credits generated
USD 2.6 m
Revenue*
120k+ water filters sold in East
Africa
*December 2023 Figures
Current markets: Uganda
& Rwanda
Next market: Kenya
Our Results so far (2): Second planned investment: “Project Cascade” (June 2024)
2.1m
People where 50% are
female
13
InConclusion (1): Useful learnings…
How to channel funding in countries
which need it the most ?
What projects/ entities are likely to have
the biggest impact and are in need of
funding?
• Where the public sector stops, there are
competent and like-minded water businesses
ready to play their part in the water value
chain.
• Let’s fund them so they can scale!
• Use a blended finance structure to pool
public and private funding together
• De-risk !
Where ?
• Geographic diversification is key
• Water policies conducive to private sector
(license, tariff, ease of doing business, etc)
With which
money ?
How to convince investors to invest in
the water sector in emerging
countries?
What to do ?
14
Dina Pons
Fund Manager W2AF
dina.pons@incofin.com
Want to Learn more ?

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Incofin’s Water Access Acceleration Fund.pdf

  • 1. 1 Committed Beyond Investment Water Access Acceleration Fund (W2AF) 11th Round Table on Financing Water May 30th and 31st 2024
  • 2. 2 We invest for impact to drive inclusive progress and sustainable transitions
  • 3. 3 Introduction – Incofin Invesment Management European AIFM licensed asset manager, we have 20+ years of experience investing emerging markets for impact 210 1,111 115 AUM (USD Million) 1,436 Financial Inclusion Debt Private Equity Agri Debt 16% AUM CAGR in the last decade USD 4bn invested since inception financial inclusion agri-food access to water Sector Focus Asset Under Management (Q4 2022) Highlights USD 9m 159 TA projects investments TA projects completed 2k number of transactions 186 Active investees 65 Active Countries > 90 Employees 2001 Founded 5 Offices
  • 4. 4 We have built long lasting relationships with a wide range of investors* DFIs Institutional investors, family offices and corporates Banks Advisor to top 10 Microfinance Investment Funds *The names listed here include previous and existing investors in various Incofin funds
  • 5. 5 THE PROBLEM (1):Today, over 2 billion people globally lack access to safe and clean drinking water.This implies that… …for every 3 people with access to safely managed drinking water… …there is 1 person without access to it
  • 6. 6 Source: 1) Water.org, Financing SDG 6 THE PROBLEM (2):Today, many water businesses have a proven business model. But, when they look for funding to scale, there is a lack of adequate capital solutions available…. The funding ecosystem for PRIVATE PLAYERS looks like that… Incubation Grant Project donation Innovation Piloting Seed Capital Venture Capital Pre-Series A- Series A Scaling Equity Series B-C Financing gap New Idea Proof of concept Ready for investment Scale up
  • 7. 7 THE PROBLEM (3): Meanwhile, capital is available, but the ecosystem is fragmented As a corporation, we have a CSR budget but I dont know how to select the right water businesses, i dont have enough « on the ground » knowledge As a public funder, we can offer de-risking capital but it needs to catalyze private investors financing. As a foundation, we are used to grant funding, I dont see how I could invest into a vehicle which is not a grant facility? As a bank, we have a water investment strategy, but cannot take too high risk and the water sector is seen risky
  • 8. 8 THE SOLUTION (1): W2AF is the first global impact investment fund focused on access to drinking water to low income population ! Impact Objectives Financial Objectives The Fund wants to provide at least 20 billion litres of safe drinking water to 30 million people, a majority of them, living below USD 8/day The Fund has ambitious Gender and Climate strategies The Fund provides equity and quasi equity financing to water businesses globally, we support market based solutions! The Fund wants to prove the investment readiness of the sector
  • 9. 9 THE SOLUTION (2):W2AF is an innovative blended finance structure… USD 16.3 m EUR 19.1 m EUR 32.1m EUR 51.4 m EUR 0.4m • W2AF pools together a diverse group of investors, private, public, institutional, individual, foundations, bank, etc • A unique first loss cushion maintained at > 20% for de- risking the fund and attract private investors (family office + bank)
  • 10. 10 Headquarters Regional offices Investments How do we do it: W2AF already has a global reputation !
  • 11. 11 2500+ water treatment plants installed cover 12 Indian states Community Water Plants Power pump / Solar pump based / Hand pump based Operation & Maintenance Water Supply Schemes Rural Water Supply Schemes Mini Water Supply Shemes (solar based) Water Treatment Plants High capacity up to 200 m3/hr Key Solutions Offered Key Metrics Footprint Our results so far (1): First Investment: RiteWater Solutions (India) 31% | 22% EBITDA margin | Net profit margin EUR 16.7 m Revenue *December 2023 Figures 1.5bn Drinking water liters provided 2.3m People where 50% are female
  • 12. 12 Business Model Key Metrics Footprint 100 mn+ liters water filtered Sustainable sourcing Factory strategically located close to main raw material - clay Carbons Credits Generation Significant additional income through partnerships with companies, development programmes, etc. Distribution B2C & B2B though 40 sales agents Local production 10,000 filters produced per month to be increased to 70.000 with the expansion of the factory 150,000 Carbon credits generated USD 2.6 m Revenue* 120k+ water filters sold in East Africa *December 2023 Figures Current markets: Uganda & Rwanda Next market: Kenya Our Results so far (2): Second planned investment: “Project Cascade” (June 2024) 2.1m People where 50% are female
  • 13. 13 InConclusion (1): Useful learnings… How to channel funding in countries which need it the most ? What projects/ entities are likely to have the biggest impact and are in need of funding? • Where the public sector stops, there are competent and like-minded water businesses ready to play their part in the water value chain. • Let’s fund them so they can scale! • Use a blended finance structure to pool public and private funding together • De-risk ! Where ? • Geographic diversification is key • Water policies conducive to private sector (license, tariff, ease of doing business, etc) With which money ? How to convince investors to invest in the water sector in emerging countries? What to do ?
  • 14. 14 Dina Pons Fund Manager W2AF dina.pons@incofin.com Want to Learn more ?