Four corporates have signed on so far as LPs for Emerald Technology Ventures’ new water fund.
Water analytics and treatment company Veralto Corporation and water hygiene services provider Ecolab are anchoring the €60m ($69m) first close of Swiss VC firm Emerald Technology Ventures’ Global Water Fund II.
SKion Water and Occidental Petroleum, the latter through its corporate VC Oxy Technology Ventures, also made commitments to the new vehicle.
The fund is targeting between €150m-180m ($173m-208m) by final close and will look for investments in early to growth-stage startups focused on enhanced water monitoring and prediction, automation, advanced treatment, infrastructure and business resilience, and emerging contaminants.
Ecolab and SKion water are both following on from Emerald Technology Ventures’ first global water fund, which closed in 2020 with $100m and also saw investments from corporates such as Microsoft.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
