Incofin Launches Water Access Acceleration Fund (W2AF) with $36m to Invest in Africa, Asia
MICROCAPITAL BRIEF: Incofin Launches Water Access Acceleration Fund (W2AF) with $36m to Invest in Africa, Asia
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 toward its goal of EUR 70 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 (USAID) is funding a first-loss tranche.