Switzerland-based venture capital firm Emerald Technology Ventures closed its water innovation impact fund at $100m on Wednesday with backing from corporate limited partners SKion Water, Ecolab and Microsoft.
Water and hygiene technology manufacturer Ecolab, software provider Microsoft and water and wastewater equipment and infrastructure producer SKion Water joined Singaporean state-owned investment firm Temasek, the fund’s cornerstone investor.
Emerald has now formed five funds and backed 67 industrial technology providers in addition to managing investments for third parties such as the Singaporean and Swiss governments.
The latest vehicle will invest in developers of technologies that can help conserve water, strengthen urban sustainability, improve the efficiency of resource use, cut health risks and assist in adaptation to climate change.
Brandon Middaugh, director of Microsoft Climate Innovation Fund, said: “Addressing water challenges around the world will require transforming the way water systems are managed and advancing new technologies to reduce water consumption and increase water quality and replenishment.
“Emerald has long led the way on identifying and investing in industrial technologies that change the market. We look forward to partnering with them and the other LPs on this new fund to accelerate global water innovation.”
