Here’s the full list of investment funds plotted in my Definitive Map of Water Tech Investors.
You can use the map directory linked above and filter out the funds by key characteristics, or get straight to their detailed profile with the (quite long, sorry!) list of funds below:
Echo River Capital
(San Francisco Bay Area, USA)
Former WaterSmart Software founder Peter Yolles transformed his entrepreneurial exit into Echo River Capital, a boutique micro-VC fund championing the “3 D’s of Water Tech” – Digitization, Decarbonization, and Decentralization – through strategic $50K seed investments in global innovators like Aclarity, Epic Cleantec, and Waterplan. Drawing on three decades of water industry expertise, Yolles has constructed a portfolio spanning 20+ early-stage startups across atmospheric water generation, PFAS destruction, AI-powered water monitoring, and smart irrigation – often co-investing alongside larger funds while maintaining sufficient reserves to support winners through follow-on rounds.
Burnt Island Ventures
(New York, USA)
Burnt Island Ventures has evolved from a water accelerator pedigree into the most specialized lead investor in the water tech ecosystem, transforming from helping startups raise $600M+ at Imagine H2O to directly backing pioneering companies like ZwitterCo, Flocean, and Irrigreen across the full water innovation spectrum. Founded by industry veterans Tom Ferguson, Christine Boyle, and Steve Kloos, BIV leverages its unmatched “we only do water” expertise to identify promising technologies from smart infrastructure to treatment solutions, contributing both capital and strategic guidance that has helped their portfolio achieve an impressive 61% graduation rate to subsequent funding rounds.
Emerald Technology Ventures
(Zurich, Switzerland)
From a modest cleantech fund in Switzerland, Emerald Technology Ventures evolved into a water powerhouse with their $100 million Water Impact Fund that targets breakthrough solutions across leak detection, digital water, PFAS removal, and wastewater treatment — leading investments in innovative companies like SewerAI, Kilimo, and The Water & Carbon Group across four continents. Helge Daebel’s water-focused team doesn’t just write checks but actively shapes portfolio companies through board positions and strategic guidance, deploying their signature $4-10 million investments predominantly as a lead investor while maintaining substantial reserves to support winners through follow-on rounds.
Mazarine Ventures
(Chicago, USA)
Mazarine Ventures emerged in 2018 as a Chicago-based water specialist fund with an eye for finding diamonds-in-the-rough, deploying modest $50K-$500K checks across fourteen innovative startups from acoustic leak detection (Conservation Labs) to 3D-printed membranes (Aqua Membranes) and PFAS detection (Biota Labs). Unlike larger funds that demand board seats and control, the four-partner team led by John Robinson focuses on being supportive co-investors rather than lead investors—often writing multiple checks to winning companies like Swirltex and ElectraMet as they prove their technology works, while using their deep water industry connections to help startups connect with customers and follow-on investors in the “3 D’s of Water Tech”: Digitization, Decarbonization, and Decentralization.
XPV Water Partners
(Toronto, Canada)
Since its founding in Canada, XPV Water Partners has evolved into a water tech kingmaker with over $1 billion AUM and a knack for spotting tomorrow’s essential solutions—whether backing digital pioneers like Aquatic Informatics and LuminUltra or building nutrient removal powerhouses through its Axius platform with KKR. The firm has masterfully navigated the flow of capital through the water sector, transforming modest $5-15M initial tickets into substantial exits while continuously cultivating an ecosystem of entrepreneurs tackling everything from climate resilience to PFAS treatment across North America and beyond.
PureTerra Ventures
(Amsterdam, Netherlands)
From basement pitch decks to boardroom breakthrough deals, PureTerra Ventures has established itself since 2019 as the specialized matchmaker between global water innovation and growth capital, strategically deploying €1-5M tickets into disruptive water technologies spanning industrial treatment, agricultural efficiency, and digital infrastructure. Their portfolio tells a compelling global story – backing tomorrow’s water tech champions like Membrion’s ceramic membranes, Transcend’s design software, and KMX’s distillation technology, while uniquely offering Western startups privileged access to China’s vast water markets through their extensive network of industrial connections.
HG Ventures
(Indianapolis, USA)
HG Ventures, the corporate venture arm of 90-year-old Heritage Group, has steadily built a diverse water technology portfolio spanning PFAS remediation (Puraffinity, Aclarity), industrial water treatment (ZwitterCo, ElectraMet), and digital infrastructure (Transcend, 120Water) without a single exit to date. Their patient capital approach—typically deploying $1-10M initial checks with substantial follow-on capacity—has positioned them as both lead and supporting investors across North America and Europe, suggesting a long-term strategy befitting a corporate backer that builds “businesses for life.”
Elemental Excelerator
(Honolulu, United States)
From Hawaii’s shores to global waterworks, Elemental Excelerator has flowed from grant-maker to kingmaker in the water tech ecosystem, deploying over $57M in non-dilutive funding to groundbreaking startups like Cambrian Innovation, SOURCE, and FREDsense. What sets Elemental apart isn’t just writing checks but their knack for pairing promising technologies with real-world projects, creating the perfect financial bridge between prototype and profitable scale for tomorrow’s water leaders.
DCVC
(San Francisco, USA)
DCVC has charted a distinct course in water tech financing since 2011, backing innovative solutions from ZwitterCo’s fouling-resistant membranes to Aquafortus’s zero-liquid discharge systems, with Operating Partner Earl Jones (a former water-tech CEO himself) steering their strategic investments. The San Francisco Bay Area firm not only leads early rounds with typical tickets of $3-10 million but stays for the voyage, evidenced by their consistent follow-on investments and board leadership in portfolio companies tackling industrial wastewater reuse, PFAS destruction, and resource recovery from wastewaters.
Breakthrough Energy Ventures
(Kirkland, USA)
Bill Gates’ Breakthrough Energy Ventures has quietly built a robust water tech portfolio since 2016, backing innovative startups like Source Global’s atmospheric water panels, Lilac Solutions’ lithium extraction technology, and Zero Mass Water through multiple funding rounds without rushing to exits. With over $3.5 billion in committed capital across three funds, BEV’s patient 20-year investment horizon provides crucial sustenance to early-stage water entrepreneurs navigating the notorious “valley of death” in hard-tech commercialization.
Lowercarbon Capital
(Jackson, USA)
Lowercarbon Capital, founded by Chris and Crystal Sacca around 2018, has made its splash in water tech by boldly writing first checks across the hydro innovation spectrum—from FarmHQ’s irrigation efficiency to Floodbase’s satellite-powered flood intelligence and Ulysses’ ocean-restoring robots. With substantial dry powder from its billion-plus war chest and a talent for backing founders early while supporting them “deep into the alphabet rounds,” Lowercarbon has positioned itself as the investor of choice for entrepreneurs tackling our planet’s most pressing water challenges.
OurCrowd
(Jerusalem, Israel)
From algae-zapping BlueGreen to sewage-sniffing Kando, OurCrowd has established itself as Israel’s most active H2O financier, cultivating a garden of water solutions that span precision irrigation to toxin detection. Starting in the innovation-rich soil of Jerusalem in 2013, Jon Medved’s team has strategically deployed millions into early-stage water ventures, while simultaneously building bridges across once-parched Middle Eastern investment landscapes following the Abraham Accords.
Y Combinator
(San Francisco, USA)
“While Y Combinator hasn’t exactly made a splash in water tech with only a handful of portfolio companies like Waterplan, Biobot Analytics, and the now-defunct WATERFX, the Silicon Valley accelerator did explicitly call for water startups in 2017 and offers its standard $500K deal to founders tackling everything from digital analytics to desalination. The storied accelerator’s approach to water innovation mirrors its broader strategy: back ambitious founders at the earliest stages, provide minimal interference with no board seats, and occasionally follow-on when startups prove they can navigate beyond shallow waters.”
Katapult Ocean
(Oslo, Norway)
Katapult Ocean has carved out a distinctive niche in the blue economy, backing innovative startups like Undersee and Dive Technologies while maintaining a steadfast commitment to ocean-positive ventures since its 2018 founding. With a portfolio spanning ocean monitoring, sustainable aquaculture, and maritime decarbonization, the Oslo-based accelerator has emerged as something of a talent scout for breakthrough water technologies that promise both environmental and financial returns.
Almi Invest
(Stockholm, Sweden)
Almi Invest has established itself as a pivotal early-stage investor in Sweden’s water technology landscape, backing innovative startups that tackle pressing water challenges from treatment solutions to monitoring systems. With a portfolio that reflects both environmental commitment and commercial savvy, Almi’s patient capital approach has helped transform promising water tech concepts into scalable businesses, positioning them as a trusted funding partner for entrepreneurs navigating the notoriously capital-intensive water sector.
Techstars Sustainability Accelerator
(Tuscaloosa, United States)
Techstars Sustainability Accelerator has carved a noteworthy niche in the water sector since its 2018 origins with The Nature Conservancy, backing innovative ventures like Aquaoso’s water risk intelligence tools and Atlas AI’s climate resilience platforms. While not exclusively water-focused, their portfolio demonstrates a savvy eye for transformative water management solutions that attract follow-on capital—offering entrepreneurs both the credibility of their renowned accelerator model and the environmental expertise that makes investors’ wallets open just a bit wider.
Clean Energy Ventures
(Boston, United States)
Clean Energy Ventures has strategically waded into the water sector with investments in breakthrough technologies like Transcend’s automated design software, while maintaining their core focus on energy and sustainability startups that slash carbon emissions. Though not exclusively a water-focused fund, CEV’s fourteen-year history demonstrates they’re thirsty for innovations at the nexus of climate, energy, and water—particularly those that can scale rapidly and deliver measurable environmental benefits alongside financial returns.
S2G Ventures
(Chicago, United States)
S2G Ventures has flowed into the water tech ecosystem with strategic precision since 2014, cultivating a portfolio that includes breakthrough companies like Aquaoso, Sylmar Group, and SOURCE Global while maintaining their disciplined “oceans-to-table” investment philosophy. While initially making a splash in food and agriculture investments, S2G has evolved to become one of the water sector’s most committed venture partners, bringing both capital and strategic expertise to companies tackling water scarcity, quality, and infrastructure challenges across the full hydrologic cycle.
Chalmers Ventures
(Göteborg, Sweden)
Chalmers Ventures has established itself as a formidable player in the water technology ecosystem, backing innovative startups that transform how we manage our most precious resource while maintaining close ties to its academic roots at Chalmers University. Though relatively tight-lipped about specific water tech investments in their portfolio, their methodical approach to nurturing deep tech startups from seed to scale suggests they’re quietly building the next generation of solutions for our increasingly thirsty planet.
Sustainable Development Technology Canada
(Ottawa, Canada)
SDTC has flowed critical early-stage funding into Canada’s water technology ecosystem for over two decades, helping companies like Axine Water Technologies and Saltworks transform from scrappy startups into established players with commercial technologies. While maintaining a refreshingly tech-neutral stance, they’ve consistently backed innovations addressing everything from industrial wastewater treatment to resource recovery, effectively bridging the notorious “valley of death” where promising water technologies too often evaporate before reaching market.
Bpifrance
(Maisons-Alfort Cedex, France)
Bpifrance has navigated the water sector with strategic precision, backing innovators like UV Germi and BioEnTech while positioning itself as more than just a funding source—offering technical expertise and global market connections that French water entrepreneurs crave. Since its 2012 formation from the merger of strategic investment entities, Bpifrance has built a reputation for patient capital deployment that acknowledges water technology’s lengthy commercialization cycles, creating a refreshingly practical approach in a sector where many financiers demand unrealistic timelines.
Nordic Alpha Partners
(Hellerup, Denmark)
Nordic Alpha Partners brings shrewd strategic capital to the water sector, having guided companies like Unacast, CathVision, and NGP to successful exits while helping N2 Applied and others scale across challenging markets. With deep expertise in water-adjacent sectors and a seasoned understanding of what it takes to build a global water tech champion, NAP’s decade-plus track record demonstrates they’re not just following investment trends but actively constructing tomorrow’s water technology landscape.
Perennial Value Management
(Sydney, Australia)
Forged in Melbourne’s financial district in 2000, Perennial Value Management has cultivated a reputation for identifying undervalued water infrastructure and technology companies long before they become market darlings. While maintaining a disciplined value-oriented approach across their diversified portfolio, Perennial’s water sector investments have consistently tapped into the growing global water scarcity challenge, delivering both solid returns for investors and capital for entrepreneurial companies addressing our planet’s most precious resource.
Banque des Territoires
(Paris, France)
Banque des Territoires has established itself as a formidable player in the water infrastructure space since its 2018 formation under Caisse des Dépôts, flexing its financial muscle through strategic investments in companies like Saur and targeted deployments across France’s regional water systems. While relatively young as a branded entity, it leverages the centuries-old credibility of its parent institution to bridge the gap between public service mandates and commercial viability—a balancing act that has made it an increasingly important patron for water entrepreneurs navigating France’s complex municipal landscape.
Collaborative Fund
(New York, United States)
Collaborative Fund has sailed the water innovation space for years, backing promising ventures like Membrion’s electric desalination technology and Waterplan’s climate risk platform while demonstrating patient capital throughout the sector’s notorious funding droughts. What sets them apart is their consistent thesis that water solutions need both technological innovation and business model creativity—a philosophy that’s helped their portfolio companies navigate the complex currents between venture-scale returns and meaningful environmental impact.
The Engine
(Cambridge, United States)
The Engine has navigated the notoriously challenging water tech market with remarkable strategic patience, having backed pioneers like Syzygy Plasmonics, AeroShield, and Via Separations who are tackling everything from industrial water filtration to energy-efficient desalination. While many venture funds have historically retreated at the first sign of extended timelines in water innovation, The Engine’s deep-tech playbook embraces the sector’s complexity with the same long-term conviction that has defined its broader climate tech portfolio.
Natural Ventures
(Abu Dhabi, United Arab Emirates)
Natural Ventures has carved out a niche in the water tech sector by selectively backing solutions that solve real-world water challenges, with portfolio successes including Organica Water’s biological treatment systems and WaterSmart’s consumer engagement platform. Guided by industry veterans with decades of experience navigating the complexities of water infrastructure projects, they’ve maintained their specialized focus while larger funds like XPV Water Partners and Emerald Technology Ventures have expanded into adjacent sustainability sectors.
Imagine H2O
(San Francisco, United States)
Imagine H2O has transformed from a small water innovation competition in 2009 to the sector’s preeminent accelerator, connecting over 180 startups like Valor Water, Ceres Imaging, and Waterplan with essential funding, customers, and expertise. Beyond just picking winners, the organization has built a global ecosystem where water entrepreneurs can actually succeed, helping startups attract $1.6B in investment while addressing water challenges across six continents.
Bluewater
(UK)
Swedish-born Bluewater has established itself as a formidable presence in water tech since its 2013 founding by Bengt Rittri (who previously built air purification giant Blueair), delivering innovative point-of-use purification systems that tackle everything from pharmaceuticals to microplastics. Now helmed by CEO David Noble, the company has expanded globally with operations across Europe, North America, and Asia, while maintaining its disruptive ethos by challenging conventional water delivery models with solutions that eliminate single-use plastics and reduce water miles.
Bridges Israel
(Glil Yam, Israel)
Bridges Israel has quietly established itself as a pioneer in the Israeli water tech ecosystem, backing breakthrough companies like Kando and Nanosoft while skillfully navigating the challenging road from innovation to commercialization. With over a decade of strategic investments in water technologies, the firm has built a reputation for identifying promising startups that not only solve critical water challenges but also deliver both financial returns and measurable environmental impact.
Insight Partners
(New York, USA)
Insight Partners has quietly carved out a niche in the water technology sector, with strategic investments in digital water pioneers like Aquatic Informatics, Riventa, GeoInteractive, and Klir serving as testament to their selective but impactful approach. Though not widely recognized as a water-focused investor, their pattern of backing SaaS-based solutions that modernize water utility operations has established them as a sophisticated player who understands the industry’s digital transformation journey, offering entrepreneurs both capital and operational expertise to scale beyond traditional growth barriers.
Evok Innovations
(Vancouver, Canada)
Evok Innovations has carved out a niche in the water sector by strategically backing transformative technologies like Gradiant’s membrane solutions and Membrion’s ceramic desalination systems, proving they can spot water winners before they make a splash. Originally launched as a cleantech fund backed by the oil and gas industry, Evok has evolved into a savvy water investor that bridges the gap between industrial challenges and innovative solutions, with a portfolio that demonstrates their knack for identifying technologies that solve real-world water problems.
Allos Ventures
(Cincinnati, United States)
Allos Ventures has quietly established itself in the water technology ecosystem as a Midwest-focused early-stage VC firm that bridges the gap between angel funding and larger institutional investments. Despite not specifically advertising a water vertical, Allos’s portfolio includes several notable water innovations, showcasing their willingness to dive into the sector when technologies demonstrate strong market potential and experienced leadership.
Capricorn Investment Group
(Palo Alto, USA)
Capricorn Investment Group, founded by former eBay president Jeff Skoll, has quietly established itself as one of the savviest early backers in the water tech ecosystem, with prescient investments in companies like WaterSmart Software and Membrion long before water scarcity hit mainstream investment consciousness. Having cultivated a reputation for spotting water innovation diamonds-in-the-rough before they sparkle, Capricorn continues its patient capital approach in an increasingly thirsty market where other investors are just beginning to dip their toes.
360 Capital
(Paris, France)
Deep-diving into water investments since 2010, 360 Capital has cultivated a specialized portfolio including standouts like CityTaps, a pioneer in prepaid smart water meters for emerging markets, and Hydrao, whose innovative shower solutions combine water conservation with consumer engagement. Having weathered the early drought of water tech investment interest, this Franco-Italian venture firm now leverages its technical expertise and global connections to help water entrepreneurs navigate the complex regulatory landscape while scaling solutions that address our planet’s most pressing water challenges.
Better Ventures
(Oakland, United States)
Better Ventures, which traces its roots to Oakland in 2010 and the Clean Tech Open competition, has carved out an impressive niche in water tech investing with portfolio standouts like Waterplan and Folia Water delivering real-world impact on water scarcity. The firm’s strategic blend of early-stage capital, hands-on mentorship, and unwavering commitment to environmental outcomes has positioned it as more than just a funding source—it’s become a launchpad for founders tackling our most pressing hydrological challenges with technological ingenuity.
Breakthrough Victoria
(Melbourne, Australia)
Breakthrough Victoria has emerged as a pivotal player in the water innovation landscape, strategically deploying capital into promising solutions while maintaining a patient approach to long-term environmental challenges. Though relatively young in the investment ecosystem, they’ve already made splashes by backing smart technologies that address water scarcity and quality issues, signaling to water tech entrepreneurs that sustainable water management isn’t just environmentally critical—it’s financially viable.
Speciale Invest
(Chennai, India)
Speciale Invest has carved a niche in the water tech ecosystem by backing visionary startups like Uravu Labs and Hydrop, bringing their engineering-first investment philosophy to solve pressing water scarcity challenges. While relatively new to the water sector, this VC firm’s broader track record of supporting deep-tech innovations across sectors signals they’re not just testing the waters but are committed to funding technologies that can create meaningful impact in this critical resource space.
Région Sud Investissement
(Marseille, France)
Région Sud Investissement has quietly emerged as a key regional player in water innovation financing, backing promising startups like Optimatics (industrial water optimization) and Aqua-Tools (water quality monitoring) as part of its broader technology investment strategy dating back to 2010. While not exclusively focused on the water sector, RSI’s patient capital approach and regional development mandate have created fertile ground for water entrepreneurs in Southern France, helping bridge the notorious “valley of death” for early-stage companies tackling water challenges.
MEIF Proof of Concept & Early Stage Fund
(Sheffield, UK)
The MEIF Proof of Concept & Early Stage Fund has established itself as a discerning backer of water innovation, cultivating a portfolio that addresses everything from infrastructure efficiency to resource conservation while maintaining a keen eye for commercial viability. Their investment philosophy embraces the transformative potential of early-stage water technologies, supporting ventures through the notoriously challenging “valley of death” where promising solutions often evaporate before reaching market maturity.
General Atlantic
(New York, United States)
General Atlantic, the global growth equity firm with a 40-year legacy across sectors, has quietly made strategic investments in water companies like XPV Water Partners while avoiding splashy headlines in the typically underinvested water tech space. Their selective approach mirrors their broader investment philosophy—targeting transformative businesses with significant growth potential, though water entrepreneurs should note they’re hardly the dedicated sector specialist that some water-focused funds represent.
Safar Partners
(Cambridge, USA)
Safar Partners has made a splash in the water sector with a focused investment approach in companies like ZwitterCo and Glanris, demonstrating their commitment to backing breakthrough filtration technologies and sustainable water solutions. The Boston-based firm’s track record shows a keen eye for water innovations that address pressing environmental challenges, making them a noteworthy ally for entrepreneurs navigating the complex currents of the water technology landscape.
Viking Global Investors
(Stamford, United States)
Viking Global Investors, while not historically asserting a specialized water thesis, has stealthily navigated the sector through strategic positioning in climate-resilient infrastructure and water-adjacent utilities like American Water Works. The $50+ billion hedge fund, founded in 1999 by Andreas Halvorsen and known for its disciplined long-short equity approach, typically wades into water opportunities opportunistically rather than through dedicated vertical focus—a cautious yet potentially lucrative stance that water entrepreneurs should note when seeking institutional capital.
Giant Ventures
(London, United Kingdom)
Giant Ventures has navigated the water sector with a selective but impactful approach, backing standout companies like Source Global (atmospheric water generation) and Vevelios (digital water infrastructure monitoring) while maintaining water as a strategic focus within their climate tech portfolio. Though not exclusively a water investor, Giant’s history reveals a consistent eye for water innovations that combine technological ingenuity with genuine environmental impact, positioning them as a thoughtful player for entrepreneurs addressing water security challenges.
Sprint Ventures
(Brisbane, Australia)
Sprint Ventures has carved out a distinctive niche in the water technology sector, backing innovation-driven companies like Ketos, Aqua Membranes, and Source Global with their thesis-driven investment approach that targets water quality monitoring, treatment efficiency, and access solutions. Though relatively young compared to sector veterans, this venture team has quickly established credibility by strategically partnering with water industry leaders and demonstrating impressive foresight in identifying emerging technologies that address our most pressing water challenges.
Ferguson Ventures
(Newport News, USA)
Ferguson Ventures, the corporate venture arm of Ferguson Enterprises (North America’s leading plumbing and HVACR distributor), brings both financial capital and commercial channel access to emerging water tech startups, having already backed innovative companies like Upcycle & Co, XStream Trucking, and Gojo. While they entered the venture space relatively recently in 2018, they’ve quickly established themselves as strategic investors who leverage their parent company’s 70+ years of industry experience and extensive distribution network to help portfolio companies scale within the commercial and residential water sectors.
Fall Line Capital
(San Mateo, USA)
Fall Line Capital, co-founded in 2011 by Clay Mitchell and Eric O’Brien, has quietly built a reputation for strategic water investments while primarily being known for their agricultural technology portfolio, including notable companies like Ceres Imaging and Terravion. Beyond merely chasing trendy water startups, Fall Line brings a sophisticated understanding of water’s role in food production systems, making them the rare investor that grasps both the plumbing and the plants in the complex equation of sustainable agriculture.
GoHub Ventures
(Valencia, Spain)
GoHub Ventures, the investment arm of Spanish water utility Global Omnium, brings over 130 years of water management expertise to its strategic investing approach, backing promising startups like Idrica, Nexus Integra, and Libelium. What sets GoHub apart in the water tech investment landscape is their “smart money” philosophy—not just providing capital but opening doors to Global Omnium’s infrastructure as a real-world testing ground where entrepreneurs can validate their solutions in operational environments before scaling globally.
Rocketship.vc
(Los Altos, United States)
Rocketship.vc has quietly established itself as a savvy first-mover in the water tech space, backing breakout companies like Apana and Aquaoso before most VCs recognized the sector’s potential. While maintaining a data-driven investment approach across multiple verticals, the firm’s consistent early bets on water infrastructure and resource management platforms suggest they recognized the looming climate-driven water crisis long before it became headline fodder for mainstream investors.
The Yield Lab
(St. Louis, United States)
The Yield Lab, initially founded as an AgTech accelerator in 2014, has gradually expanded its portfolio to include innovative water solutions that address critical issues like water quality, efficiency, and restoration. Having backed water-focused ventures such as Aquaterra, AquiPor, Glanris, and Source, the firm has established itself as a thoughtful investor in the blue economy space—bringing its signature blend of capital, mentorship, and industry connections to a sector desperate for fresh financing approaches.
MANN+HUMMEL Corporate Ventures
(Ludwigsburg, Germany)
MANN+HUMMEL Corporate Ventures, the investment arm of the 80-year-old filtration powerhouse, has quietly become a kingmaker in the water tech ecosystem by backing innovative startups like SCINOR Water and inge GmbH while bringing industrial-grade expertise to the boardroom table. Their strategic approach prioritizes sustainable water solutions with serious market potential, proving that German engineering precision extends not just to their filters but also to their investment portfolio, where they’ve consistently spotted tomorrow’s water tech winners before they make a splash.
Soma Capital
(San Francisco, United States)
Soma Capital, founded in 2015 by Aneel Ranadive, has quietly established itself as a notable player in the water tech ecosystem by backing innovative startups like Waterplan and Source Global that address critical water scarcity challenges. While maintaining a diversified portfolio across multiple sectors, Soma’s strategic investments in water technology reflect both an understanding of the growing climate resilience market and a commitment to supporting founders working at the intersection of sustainability and profitability.
Massachusetts Clean Energy Center
(Boston, USA)
Massachusetts Clean Energy Center has quietly evolved from a regional player in early-stage water innovation to become a kingmaker in the water tech ecosystem, backing successful ventures like Cambrian Innovation and Anfiro while developing a reputation for strategic patience. Since its founding in 2009, MassCEC has mastered the art of de-risking water technologies through its distinctive dual approach: providing critical early capital when others won’t, while simultaneously creating real-world testing opportunities that transform promising lab concepts into market-ready solutions.
K1W1
(Auckland, New Zealand)
K1W1, the New Zealand-based investment company founded by entrepreneur Sir Stephen Tindall, has quietly built a remarkable water tech portfolio over two decades, including early backing of ventures like Clearwater, HydroWorks, and AquaLinc. While flying under the radar compared to Silicon Valley water VCs, K1W1’s patient capital approach and environmental ethos have helped numerous water innovations navigate the notoriously challenging path from laboratory to market adoption.
Butterfly Ventures
(Helsinki, Finland)
Butterfly Ventures has established itself as a pioneering early-stage investor in the Nordic water tech ecosystem, championing startups like Solar Water Solutions (mobile desalination) and Mixergy (intelligent hot water tanks) while building a reputation for patient capital in an industry where technology development cycles flow slower than typical VC timeframes. Their decade-long journey from Finnish origins to pan-Nordic presence demonstrates a steadfast commitment to water innovation that doesn’t evaporate when facing the sector’s unique challenges, making them rare specimens in a venture landscape where quick returns typically trump sustainable impact.
Xora Innovation
(Singapore, Singapore)
Xora Innovation, Temasek’s deep tech early-stage investment platform, has quietly built a strategic portfolio of water technologies through investments in companies tackling critical challenges from filtration to resource recovery. While relatively young in the water sector, Xora brings Temasek’s substantial financial backing and patient capital approach to the space, offering water entrepreneurs a partner that understands both the technical complexity and extended commercialization timelines inherent to transformative water solutions.
Water Unite Impact
(London, United Kingdom)
Water Unite Impact has carved a niche in the water sector by transforming a microlevy on bottled water sales into a potent investment vehicle for water and sanitation enterprises across emerging markets. Since its 2021 launch, the fund has built an impressive portfolio including UNTAPPED, Aerosan, Wasserstoff, and SWEEP, demonstrating how innovative financing can bridge the gap between philanthropic capital and commercial investment in water ventures.
Export Development Canada
(Ottawa, Canada)
Export Development Canada has quietly established itself as one of the most consistent backers of Canadian water tech firms since the early 2000s, with marquee investments in UV disinfection pioneer Trojan Technologies and membrane innovator H2O Innovation. While maintaining a notably low profile in the sector, EDC’s strategic approach has emphasized long-term support for companies with international growth potential, helping transform promising Canadian water technologies into global market leaders.
Bluegrass Angels
(Lexington, United States)
Bluegrass Angels, the Kentucky-based investor collective founded in 2004, has quietly established itself in the water tech ecosystem by backing innovative startups like Lexington-based SOPER Technologies with its agricultural runoff treatment solutions. While maintaining a diversified portfolio across multiple sectors, Bluegrass Angels has demonstrated a consistent interest in water-adjacent companies that address real-world environmental challenges, providing not just capital but also mentorship from its membership of seasoned entrepreneurs and business leaders.
Global Innovation Fund
(London, United Kingdom)
Global Innovation Fund has carved out a distinct niche in the water sector by funding audacious social entrepreneurs tackling everything from affordable water purification to digital management systems, with portfolio standouts including Drinkwell’s water ATMs and Kheyti’s greenhouse solutions. Despite being a relative newcomer to the water investment landscape since its 2014 launch, GIF has established itself as a patient capital provider that willingly bridges the “pioneer gap,” supporting water innovations from early proof-of-concept through to scalable enterprises that serve millions across developing markets.
Energy Innovation Capital
(San Francisco, United States)
Energy Innovation Capital has emerged as a savvy water infrastructure investor by backing transformative companies like Samsara (industrial IoT) and SJW Group (regulated water utility) while maintaining a refreshingly selective approach to deal flow. With roots stretching back to 2015 and partnerships with industry giants including Evoqua and Veolia, EIC combines deep technical expertise with patient capital deployment—making them the rare VC that understands both the unglamorous realities of water infrastructure and the long-term value creation possible in this essential sector.
Aliaxis
(Brussels, Belgium)
Aliaxis transformed itself from the Etex family business’s plumbing division into a global water management powerhouse, acquiring marquee brands like IPEX, Durman, and Nicoll while maintaining a long-term vision that’s rare in today’s quarterly-focused corporate landscape. The Belgian firm’s steady expansion across five continents over 20+ years shows remarkable patience in an industry where others chase quick exits—proving that in water infrastructure, thinking in decades rather than quarters can create lasting value.
ThreeD Capital Inc.
(Toronto, Canada)
ThreeD Capital Inc. has barely dipped its toes into water technology investments, with no significant track record of backing hydro-innovation companies despite its broader focus on disruptive technologies across other sectors. Water entrepreneurs seeking capital might find themselves high and dry with ThreeD, as the venture firm led by Sheldon Inwentash has historically channeled its resources toward junior resources, blockchain, and AI rather than addressing the growing global water crisis.
Scottish Enterprise
(Glasgow, Scotland)
Scottish Enterprise has been the not-so-silent force behind Scotland’s thriving water tech ecosystem since 1991, having helped nurture success stories like Aquamotive, Dryden Aqua, and Panton McLeod from promising startups into established players in the global water market. Their unique blend of funding, international market connections, and technical advisors has established Scotland as punching well above its weight in water innovation—transforming a country known for abundant rainfall into one equally recognized for its water technology expertise.
TSP Ventures
(London, United Kingdom)
TSP Ventures has made a splash in the water sector by backing innovative startups like I-Phyc and WINT, positioning themselves as thoughtful investors who understand both the technical and commercial challenges of water technology. Founded in 2018 by a team of entrepreneurs-turned-VCs, they’ve built a reputation for hands-on support and strategic connections that help their portfolio companies navigate the notoriously complex water industry landscape.
Berkeley Catalyst Fund
(Cupertino, United States)
Berkeley Catalyst Fund, launched in 2016 under managing partner Cameron Geddes, has built a reputation for backing blue-chip water technology startups like Membrion and Epic Cleantec with hands-on support from its partner network of industry veterans. With investments in more than a dozen water tech companies that have collectively secured over $100 million in follow-on funding, BCF maintains its edge by operating at the intersection of Berkeley’s academic innovation ecosystem and California’s challenging water landscape, where its portfolio companies are tackling everything from membrane technology to water reuse solutions.
Refactor Capital
(Burlingame, United States)
Refactor Capital has emerged as an early champion in water tech investing, backing pioneers like Waterplan, Gybe, and Divirod since 2017 when many VCs still considered water the risky third rail of climate tech. Their focused strategy of identifying breakthrough technologies that solve urgent water challenges has yielded a growing portfolio of companies creating meaningful impact in an increasingly water-constrained world.
Aqualateral
(Brooklyn, United States)
Aqualateral has established itself as a distinctive player in the water finance ecosystem, navigating between traditional VC boundaries to fund solutions addressing our planet’s most pressing water challenges. Founded by seasoned investors with deep experience across water, sustainability, and infrastructure verticals, the firm has cultivated a reputation for identifying promising technologies while understanding the complex regulatory and adoption cycles that define success in the water sector.
EPIC Ventures
(Salt Lake City, United States)
EPIC Ventures has carved out a distinctive niche in the water technology landscape, strategically backing innovators like Banyan Water and APANA while demonstrating remarkable patience throughout their 30+ year history. As early champions of operational efficiency technologies in the water sector, EPIC’s portfolio reflects their commitment to funding practical solutions that deliver measurable environmental and financial results rather than chasing flashy but unproven moonshots.
Builders VC
(San Francisco, USA)
Builders VC has carved out a distinct position in water tech investment by backing operational modernization plays like Transcend, Varuna, and Dragos rather than chasing speculative moonshots. With partners Jim Kim and Mark Andreessen bringing deep infrastructure expertise from their XPV Water Partners days, they’ve established themselves as the adults in the room who understand that lasting water innovation requires patient capital and regulatory savvy.
Bentley Systems
(Exton, United States)
Bentley Systems has evolved from its 1984 civil engineering software roots into a water infrastructure powerhouse, gradually expanding its portfolio through strategic acquisitions of specialized firms like WaterGEMS and SewerGEMS while maintaining its reputation for comprehensive digital twin solutions. The company’s patient, methodical approach to the water sector has made it an enduring presence in an industry where flashy startups often evaporate, with Bentley’s commitment to infrastructure digital twins positioning it as both a reliable incumbent and a forward-thinking partner for next-generation water management.
2048 Ventures
(New York City, United States)
2048 Ventures has established itself as a decisive early-stage investor in the water sector, backing pioneering startups like Pluto and Tomorrow Water while demonstrating remarkable speed in funding decisions—often within 48 hours of meetings. Their track record shows a keen eye for founders transforming water management through technology, with portfolio companies tackling everything from municipal infrastructure optimization to water quality monitoring, positioning them as a go-to resource for water tech entrepreneurs seeking both capital and industry connections.
Vesta
(Lake Oswego, United States)
Vesta offers a refreshing capital approach to water tech: funding companies across the sector’s entire value chain, from early-stage innovation to established infrastructure players, while staying firmly focused on environmental outcomes. Born from Water Asset Management’s fifteen-year legacy of water investing expertise, this investment platform has flowed steadily into the market gap between traditional venture capital and infrastructure funding, supporting water leaders like Hydropoint, StormSensor, and Transcend while building an impressive track record of strategic investments that combine financial returns with measurable environmental impact.
Levy Ventures
(Jacksonville, United States)
Levy Ventures has established itself as a pioneer in water innovation financing, backing breakthrough companies like Membrion and 120Water while strategically navigating the sector’s unique challenges since its founding in 2017. With a substantial portion of its portfolio dedicated to water solutions, the firm has cultivated a reputation for patient capital deployment and deep industry expertise that resonates particularly with entrepreneurs tackling our most pressing water infrastructure and quality challenges.
Ulu Ventures
(Menlo Park, United States)
Ulu Ventures brings a crisp, evidence-driven investment approach to water tech, favoring ventures that blend impactful climate solutions with solid financial fundamentals rather than riding market hype. Though relatively quiet in their aquatic portfolio publicity, Ulu’s consistent backing of enterprise technologies across varied sectors suggests they’re patiently building depth in water innovation while maintaining their signature analytical discipline that has driven their overall strong performance since founding in 2008.
EIT Food
(Leuven, Belgium)
EIT Food, the European Institute of Innovation and Technology’s food innovation initiative, has cultivated a reputation for connecting promising water technology startups with critical funding and industry connections since its 2016 launch. Their portfolio boasts success stories like Agradis, which scaled water-efficient vertical farming solutions, and WaterSpy, whose rapid pathogen detection tools exemplify EIT Food’s talent for transforming water conservation concepts into market-ready innovations that attract serious investor attention.
Anorak Ventures
(San Francisco, United States)
Anorak Ventures has quietly built a reputation as one of the savvier early-stage investors in water technology, backing promising startups while steering clear of the flashy hype cycles that have sunk many competitors in the sector. Founded by Greg Smithies, the firm’s water portfolio reflects a pragmatic approach to innovation—investing in companies solving concrete problems with defensible technology rather than chasing water unicorns that evaporate under scrutiny.
Anicut Capital
(Chennai, India)
Anicut Capital has quietly established itself as a steadfast backer in the water sector, steering clear of splashy headlines while building a solid portfolio of water management innovators. From their Chennai roots to their current multi-stage investment strategy, they’ve demonstrated remarkable patience in nurturing water tech ventures through funding cycles that often move more deliberately than the flashier tech domains many VCs prefer to navigate.
DC Thomson
(Dundee, United Kingdom)
DC Thomson, the 119-year-old Scottish publishing dynasty, has quietly expanded its portfolio beyond beloved comics and newspapers to become a strategic investor in water technology ventures through its DC Thomson Ventures arm. Though relatively new to the water sector compared to its publishing legacy, the Dundee-based family business brings its reputation for careful, long-term investment thinking to an industry desperate for patient capital and strategic partnerships.
Craft Ventures
(San Francisco, United States)
Craft Ventures, the VC firm co-founded by David Sacks and best known for backing tech unicorns like SpaceX and Reddit, has shown virtually no dedicated investment history in the water technology sector despite the growing climate-driven opportunities. Water tech founders seeking capital might find Craft’s dry spell in hydrology investments surprising given their $2B+ in assets under management, suggesting their venture streams flow decidedly toward software and consumer tech rather than the increasingly critical water infrastructure space.
Spectrum Impact
(Mumbai, India)
Spectrum Impact Capital has made its mark in water tech by backing early movers like SCADA systems and predictive analytics decades before the current water investment boom, with its founders having orchestrated exits to industry giants including GE, Mueller, and Autodesk. Now firmly positioned as venture capital veterans in the blue economy, Spectrum partners bring both their checkbooks and decades of operational expertise to help water entrepreneurs navigate the notoriously complex water industry landscape.
EDF
(New York, USA)
EDF (Environmental Defense Fund) has distinguished itself in the water space through strategic partnerships with agricultural giants like Smithfield Foods and creating innovative market mechanisms that blend conservation with economic incentives. While not wielding the massive portfolios of traditional water investors, EDF’s decades-long commitment to collaborative, science-based solutions has established them as influential architects of water policy reform rather than conventional financiers of water technology.
Bellingham Angel Investors
(Bellingham, USA)
Bellingham Angel Investors has quietly built a reputation for navigating the complex waters of water tech investment, backing innovative solutions while maintaining stringent environmental standards throughout their portfolio. Though relatively modest in their public profile, their selective approach has cultivated a concentrated expertise in water infrastructure and technology startups, creating a distinct niche in a sector where patient capital and industry-specific knowledge provide their competitive edge.
Sofinnova Partners
(Paris, France)
Sofinnova Partners has quietly established itself as a pioneer in water technology investing, backing innovative companies like Samsara Eco (plastic recycling), Trillium (eco-friendly filtration), and H2OK (water contamination sensors) while other VCs were still dipping hesitant toes into the sector. What sets this Paris-based venture firm apart isn’t just their 50-year legacy in life sciences, but their knack for identifying water technologies that elegantly solve environmental challenges while delivering the financial returns that have kept their limited partners coming back since 1972.
ECBF
(Bonn, Germany)
ECBF, the European Circular Bioeconomy Fund, has carved out a reputation for backing promising water technologies with strategic investments in companies like Puraffinity and Bluetech darling Aqua Membranes, demonstrating their commitment to circular solutions in the water sector. Having deployed capital across the water value chain since their 2020 launch, ECBF brings not just euros to the table but also deep industry connections and scaling expertise that has helped portfolio companies navigate the notoriously challenging path from innovation to market adoption.
GHD
(Sydney, Australia)
GHD, a stalwart in the water engineering landscape since 1928, has evolved from Australian civil works to a global powerhouse commanding respect from São Paulo to Singapore with its integrated water cycle solutions. The firm’s transition from traditional infrastructure to embracing digital twins and smart water networks positions it as both venerable oracle and nimble innovator in an industry where most startups haven’t yet experienced their first drought cycle.
Aspen Capital Group
(Naples, United States)
Aspen Capital Group has quietly built a reputation as water tech’s boutique matchmaker, pairing innovative companies like Biolargo and Moleaer with the strategic capital they need to navigate the notoriously challenging water sector. While eschewing the splashy headlines of larger firms, Aspen’s targeted approach has yielded a portfolio of successful water technology exits over their two-decade journey, establishing them as savvy guides for entrepreneurs attempting to cross the notorious “valley of death” between innovation and commercial success.
Riceland
(Stuttgart, United States)
Arkansas-based agricultural giant Riceland, despite being the world’s largest rice miller cooperative representing 5,500 family farmers, has maintained a surprisingly low profile in water innovation despite rice’s notorious thirst (requiring 4,000 liters per kilogram). While agtech heavyweights like Land O’Lakes and Cargill have launched splashy water conservation ventures, Riceland has opted for a more measured approach through strategic partnerships with university research programs and limited pilot projects in irrigation efficiency, suggesting untapped potential for tech entrepreneurs willing to navigate the cooperative’s century-old institutional caution.
Blue Bear Capital
(Los Angeles, United States)
Blue Bear Capital has quietly cemented its position as a formidable player in the water tech ecosystem, backing breakthrough companies like LineSight and StormSensor while strategically integrating water investments within their broader climate-focused portfolio. The firm’s partner Ernst Sack brings a water infrastructure legacy to the table, allowing Blue Bear to navigate the sector’s complexities with a refreshingly pragmatic approach that balances infrastructure demands with innovation potential.
Blue Coast
(London, United Kingdom)
Blue Coast has quietly established itself as the hydration industry’s stealth kingmaker, backing success stories like Liquid Death and Flow while deftly navigating both consumer packaged goods and infrastructure plays. Founded by water industry veterans who cut their teeth at American Water and Pentair before launching their boutique investment firm, they’ve demonstrated remarkable prescience in identifying emerging water brands before they reach mainstream consciousness.
Antler
(Singapore, Singapore)
Antler’s foray into water tech investment has remained largely uncharted, with no visible track record of backing specialized water startups despite their global venture capital presence. For water entrepreneurs seeking capital, Antler represents untested waters—their portfolio showcases tech investments across various sectors, but lacks the historical commitment to water innovation that specialized investors like Burnt Island Ventures or Mazarine Ventures have demonstrated.
Grieg Edge
(Bergen, Norway)
Grieg Edge, the innovation arm of Norwegian maritime giant Grieg Group (with roots dating back to 1884), has quietly become an influential force in sustainable maritime technologies while navigating water-related challenges through their vessel innovation projects. Their approach combines maritime heritage with forward-thinking investments in green shipping corridors and zero-emission vessels, making them less of a splashy newcomer and more of an established navigator charting pragmatic courses toward maritime sustainability.
Ecolab
(Saint Paul, USA)
Ecolab, once a humble egg-washing business founded in 1923, has transformed into a global water management powerhouse through strategic acquisitions including Nalco Water and Cascade Water Services, positioning itself as the quiet titan in industrial water efficiency with tentacles in everything from food safety to healthcare sanitation. While rivals like Xylem chase municipal contracts and consumer-facing brands splash around for attention, Ecolab has methodically built its empire by solving water challenges for Fortune 500 clients, proving that in water tech, the most lucrative strategy isn’t always making the biggest waves—it’s helping massive corporations reduce their ripple effects.
FTTF
(Rotterdam, Netherlands)
FTTF has established itself as a quiet rainmaker in the water sector, cultivating a portfolio of innovative companies like Metron, Aquacycl, and StormSensor while steering clear of the flashier climate tech stampede. What began as a strategic investment arm of XPV Water Partners has evolved into an independent fund with a decade of specialized water expertise, differentiating itself through patient capital deployment and deep sector knowledge that helps portfolio companies navigate the notoriously challenging water market.
ZNL Growth Fund
(Mumbai Suburban, India)
ZNL Growth Fund has quietly built a reputation as the “guardian angel investor” for mid-stage water innovation companies since 2011, helping scale breakthrough technologies from membrane bioreactors to advanced filtration systems when other VCs were chasing shinier tech sectors. Their distinct approach of pairing patient capital with deep operational expertise has propelled portfolio standouts like WaterSmart and Microvi from promising startups to industry players with lasting impact, proving that water tech isn’t just about solving global challenges but can deliver impressive returns for those who understand the sector’s unique rhythms.
Gratitude Railroad
(Park City, United States)
Gratitude Railroad emerged as a pioneer in the water tech investment space more than a decade ago, backing groundbreaking companies like Apana and WaterSmart that championed data analytics for conservation long before “water tech” became a buzzy category. While remaining relatively low-profile among the flashier VC funds, their patient capital approach has steadily expanded to include agricultural water efficiency plays and infrastructure modernization ventures, establishing them as the quiet force that savvy water entrepreneurs seek out when they need investors who truly understand the sector’s unique challenges.
Lakestar
(Zurich, Switzerland)
Lakestar, a European venture capital firm, has yet to establish a significant footprint in water technology despite being a prominent investor across other sectors like fintech and healthcare. While the firm manages billions and has backed unicorns like Spotify and Revolut, water entrepreneurs seeking funding might find themselves swimming in a dry lakebed, as Lakestar hasn’t demonstrated a dedicated thesis or notable investments in the water innovation ecosystem.
Vsquared
(München, Germany)
Vsquared’s strategic investment approach to water technology has successfully nurtured companies like Sourcewater and Plutoshift from early inception through crucial growth phases, establishing them as a quiet but influential force in the sector since 2010. While maintaining a laser focus on addressing water scarcity through digital transformation, Vsquared’s partners leverage their deep Silicon Valley roots and extensive industry networks to help portfolio companies navigate the traditionally challenging waters of the municipal and industrial markets.
MassCEC
(Boston, USA)
The Massachusetts Clean Energy Center has evolved from its early clean tech focus to become a serious player in water innovation, backing successful startups like Natel Energy and ZwitterCo while running one of the nation’s first dedicated water accelerator programs. What began as a modest renewable energy fund has transformed into a savvy, multi-sector investor whose portfolio companies don’t just stay afloat—they scale into market-defining enterprises that address critical water infrastructure and climate resilience challenges.
Amathaon Capital
(Munich, Germany)
Amathaon Capital has carved out a niche as a boutique investment firm with a keen eye for water technology innovations, having quietly backed several industry success stories while avoiding the splashy headlines larger funds chase. The firm’s water tech portfolio reveals a seasoned approach that blends patient capital with operational expertise—a strategy that has helped numerous water entrepreneurs navigate the notoriously challenging path from promising technology to profitable enterprise.
Progress Tech Transfer
(Milan, Italy)
Progress Tech Transfer’s impressive water tech portfolio runs deep, with savvy investments in pioneers like Idrobia Technologies, SmartIsland and WaterView—just part of their €8 million deployment across 16 startups since launching in 2019. While other funds might get cold feet, Progress has consistently plunged into the water innovation space, demonstrating how their Italian roots and European vision create a perfect confluence of technical expertise and strategic investment acumen for early-stage water entrepreneurs.
KAUST Innovation Ventures
(Thuwal, Kingdom of Saudi Arabia)
KAUST Innovation Ventures has made quite a splash in the water technology ecosystem since its 2011 inception, backing groundbreaking startups like water intelligence platform OLEA, AI-driven water diagnostics company Wayve, and sustainable desalination innovator Red Sea Farms. Having navigated both seed rounds and later-stage investments with remarkable dexterity, this Saudi-based fund combines deep technical expertise with the kind of patient capital that water entrepreneurs desperately need—making them less of a “venture tourist” and more of a dedicated traveling companion on the long road from lab to market domination.
Epoona
(Vienna, Austria)
Epoona has carved out its niche in the water sector by strategically investing in established players rather than chasing speculative startups, demonstrated through their partnerships with standout companies like Xylem and American Water. With roots stretching back to 2005 and built on founder Michael Chaplinsky’s water industry expertise, Epoona has maintained a consistent investment approach that prioritizes proven models and operational experience over flashy, unproven technologies that often leave entrepreneurs high and dry.
PeakBridge
(Valletta, Malta)
PeakBridge has established itself as a shrewd water tech investor since its founding in 2018, backing innovative ventures like Aqua-Aerobic Systems and Moleaer while cultivating a portfolio that addresses critical water infrastructure challenges. Their investment philosophy blends patient capital with deep industry expertise, enabling them to identify promising technologies that others might overlook—a strategy that has helped numerous startups navigate the notoriously difficult path from promising prototype to commercial success.
British Design Fund
(London, United Kingdom)
British Design Fund has carved a niche in the water innovation ecosystem without actually getting its feet wet, as the firm has yet to make any significant investments in water technology startups despite its otherwise solid portfolio of design-led ventures. For water tech entrepreneurs seeking capital, this presents both a challenge and opportunity—BDF offers product development expertise and early-stage funding capabilities, but you’d be navigating uncharted waters as their first potential water sector investment.
Helios Climate Ventures
(Aspen, United States)
Helios Climate Ventures quietly emerged as a serious water sector player by transforming from a pure climate investor to backing innovative startups like Liquid Death, Source, Waterplan, and Vapar that tackle water issues with both environmental and commercial impact. Despite being more publicity-shy than splashier VC peers, Helios has built a reputation for spotting profitable opportunities at the intersection of water scarcity and climate resilience while maintaining their tech-forward approach and commitment to measurable climate outcomes.
CIC
(Cambridge, USA)
Cambridge Innovation Capital has emerged as a silent force in the water tech ecosystem, backing pioneering ventures like Waterscope while maintaining a patient capital approach that allows aquatic innovations to truly mature. Having deployed over £500M across deep tech and life sciences since 2013, CIC’s connection to Cambridge University’s innovation engine has positioned it as an investor that understands both the technical complexities and extended commercialization pathways that water technologies typically navigate.
Uponor
(Vantaa, Finland)
Uponor, the Finnish plumbing pioneer established in 1918, transformed from a modest carpentry workshop into a global leader in sustainable water delivery systems through strategic acquisitions and an unwavering focus on material innovation. Now part of Georg Fischer AG following a 2023 acquisition, Uponor’s century-long journey of developing polymer piping solutions has positioned them as the trusted backbone of infrastructure that most people never see but couldn’t live without.
ClearlySo
(London, United Kingdom)
ClearlySo, a pioneer in impact investment banking since 2008, has quietly become a kingmaker in the water technology sphere, successfully guiding innovative startups like Buffalo Grid, Propelair, and Powervault through crucial capital raises. With their recent acquisition by Challenger bank Shawbrook in 2020, ClearlySo continues their impressive legacy of connecting visionary water entrepreneurs with capital that values both financial returns and environmental preservation.
Material Impact
(Boston, United States)
Material Impact has cultivated a reputation as “the water whisperers of the VC world,” backing transformational startups like Membrion, which transforms everyday silica gel packets into advanced filtration technology, and Renaissance, whose biodegradable seed coatings mitigate agricultural runoff. Since their founding in 2016 by materials scientists, they’ve consistently uncovered hidden value in water tech startups that others miss, positioning themselves as hands-on partners who understand both the science and the path to commercialization.
Moira Capital Partners
(Madrid, Spain)
Moira Capital Partners has quietly made a splash in the water tech sector by championing innovative solutions while maintaining a disciplined, growth-oriented investment approach that has attracted serious attention from industry veterans. Though a relative newcomer compared to some financial heavyweights, Moira’s strategic focus on transformative water technologies and their hands-on approach to portfolio management has already begun establishing them as a thoughtful partner for entrepreneurs looking to navigate the complex currents of the water industry.
GU Ventures
(Göteborg, Sweden)
GU Ventures has navigated the water technology sector since 1995, transforming promising academic innovations into commercial success stories through their hands-on investment approach and strategic development support. Their portfolio speaks volumes, having cultivated standout water enterprises like Insplorion (water quality monitoring), I-Tech (marine biofouling prevention), Relaxbirth (sustainable birth assistance), and Cereno Scientific (cardiovascular advancements), demonstrating their knack for identifying technologies that make both environmental and financial waves.
Lyse
(Stavanger, Norway)
Lyse has evolved from its Swiss roots as a hydroelectric player to position itself as a forward-thinking water management innovator, acquiring strategic firms like LG Sonic and Aqua-4D along its journey. While maintaining a robust foundation in renewable energy, Lyse has quietly built an impressive portfolio of water technology solutions that combine sustainability credentials with practical applications for tomorrow’s resource challenges.
ENGIE New Ventures
(Paris, France)
ENGIE New Ventures has dipped into the water tech sector with strategic investments in companies like Syrinx (industrial water treatment), Electricité de France (hydropower distribution), and Turbulent (innovative micro-hydro solutions), despite it not being their primary focus compared to energy. Since their 2014 founding as the corporate venture arm of French multinational ENGIE, they’ve built a track record of supporting disruptive technologies with ticket sizes between €1-5 million, though their water portfolio remains relatively modest compared to their substantial clean energy investments.
ProVenture
(Brentwood, USA)
ProVenture has quietly become a kingmaker in the water innovation ecosystem, backing breakthrough companies like Axine Water, Cambrian Innovation, and Apana long before cleantech venture capital became fashionable. With partners who’ve navigated both the “cleantech 1.0” crash and today’s sustainability renaissance, ProVenture brings a battle-hardened perspective that has helped dozens of water entrepreneurs avoid dilutive financing while scaling technologies that actually solve real industry problems.
Unexo
(Rennes, France)
Unexo has quietly built a reputation as a strategic investor in the water sector, forging partnerships with breakthrough companies like Organica and Innovyze while demonstrating remarkable patience in nurturing technologies from concept to commercial success. With roots stretching back to the early 2000s, this under-the-radar investment firm has consistently backed winning technologies that address critical water infrastructure challenges, earning them the quiet respect of industry insiders who recognize their uncanny ability to identify tomorrow’s water solutions before they make a splash.
Marubeni Corporation
(Tokyo, Japan)
Marubeni Corporation has quietly evolved from its 19th-century trading roots into a water sector heavyweight, with strategic acquisitions like Chilean utility Aguas Décimas and stakes in Manila Water establishing its global footprint across four continents. While maintaining a low profile compared to trading house rivals, Marubeni has methodically built an impressive water portfolio that includes everything from municipal utilities to cutting-edge desalination projects, positioning the company as both a savvy investor and operational partner for emerging water tech ventures.
FMG Circular AB
(Helsingborg, Sweden)
FMG Circular has evolved from its Swedish industrial origins into a shrewd water tech investor, backing breakout successes like Orbital Systems and Pastair while maintaining a portfolio that reads like a who’s-who of Nordic water innovation. With a track record of spotting tomorrow’s water champions before they make a splash, FMG has demonstrated remarkable patience in nurturing early-stage companies through the notoriously long development cycles that leave less committed investors high and dry.
Groupe OKwind
(Torcé, France)
Groupe OKwind, while primarily a French renewable energy firm specializing in self-consumption solar solutions since 2009, has been dipping its toes into water-related sustainability through its recent partnership with rural water utilities. Though not historically a water tech player, OKwind’s expansion into this sector signals an intriguing crossover between renewable energy and water management, potentially creating ripples of opportunity for entrepreneurs at this growing intersection.
Ovivo
(Montreal, Canada)
Ovivo has quietly become a water treatment powerhouse by swallowing up innovative companies like Aquagenex, ALAR, and Nederland-based Anaergia, steadily expanding its technical arsenal across industrial and municipal markets since its 1850s origins as a Canadian boiler maker. The 170-year journey from Quebec steam engineering to global water technology player demonstrates Ovivo’s remarkable talent for absorbing specialized water treatment firms and transforming them into complementary pieces of its increasingly comprehensive treatment portfolio.
Wheatsheaf Group Limited
(London, United Kingdom)
Wheatsheaf Group Limited, Grosvenor’s investment arm focused on food and ag sustainability since 2012, has quietly built an impressive water portfolio including stakes in promising ventures like BOSAQ, Permuteq, and iVapps. While avoiding the splashy headlines that attract venture tourists to the sector, Wheatsheaf’s patient capital approach and strategic investments in sustainable water systems suggest they’re building expertise for the long game in a market where many investors evaporate when faced with extended commercialization timelines.
VantagePoint Capital Partners
(San Bruno, USA)
VantagePoint Capital Partners carved its niche in water tech by strategically backing pioneers like Tesla of water treatment Cambrian Innovation and water data wizard WaterSmart, showcasing their keen eye for transformative technologies despite the sector’s notoriously challenging investment landscape. While they’ve quietly scaled back their dedicated water portfolio in recent years, their early bets helped legitimize water as an investable category, leaving an outsized legacy that continues to ripple through today’s burgeoning water innovation ecosystem.
Valor Equity Partners
(Chicago, USA)
Valor Equity Partners has carved out a distinctive niche in the water sector by focusing on operational expertise first, backing innovations that address critical inefficiencies like XPV Water Partners’ portfolio companies that tackle treatment challenges and Seven Seas Water’s desalination solutions. While not making splashy headlines in water tech, Valor’s strategic investments since its 2001 founding reflect a patient capital approach that seeks transformative businesses rather than quick financial returns—a philosophy that’s particularly valuable in the notoriously capital-intensive and slow-moving water industry.
Earthworm
(Nyon, Switzerland)
Earthworm has established itself as the cool-headed broker between water tech upstarts and hesitant utilities, quietly backing over 80 companies since 2009 while helping innovative water solutions navigate the industry’s notorious adoption barriers. What started as a scrappy $5M fund has evolved into a savvy $100M operation with an impressive knack for spotting winners like Pluto and Wexus Technologies, demonstrating that patient capital can indeed flow through the water sector’s notoriously complex channels.
Construct Venture
(Oslo, Norway)
Construct Venture has carved a unique path in water technology investment, backing innovative companies like StormSensor and Hydrolix while focusing on infrastructure software solutions that tackle the industry’s most pressing challenges since their founding in 2018. Led by partners who previously scaled water tech startups themselves, including at XPV Water Partners, Construct brings both capital and invaluable operational expertise to its portfolio companies—proving that in the notoriously difficult water sector, investors who’ve navigated the rapids themselves make the most valuable guides.
HCAP Partners
(La Jolla, United States)
HCAP Partners has carved out a distinctive niche in the water sector by strategically backing innovative companies like WaterSmart Software and HydroPoint Data Systems, demonstrating their commitment to technologies that address critical resource management challenges. While maintaining a disciplined approach that favors proven business models over moonshots, HCAP has built a respectable track record of nurturing growth-stage water enterprises that deliver both environmental benefits and solid returns—making them a refreshingly pragmatic player in an investment landscape often awash with either excessive caution or unrealistic expectations.
Cibus Fund
(London, United Kingdom)
Cibus Fund has quietly carved out a niche in the agtech ecosystem, backing water efficiency innovations through companies like irrigation specialist Soli Organic and providing access to both capital and strategic partnerships for water-conscious startups. While maintaining a deliberately low profile in the water sector specifically, Cibus has demonstrated their commitment to sustainable resource management through their portfolio companies’ success stories, making them a potentially valuable yet understated ally for water tech entrepreneurs seeking investors who understand the critical intersection of agriculture and water conservation.
OBOS Oppstart
(Oslo, Norway)
OBOS Oppstart has established itself as a crucial early-stage investor in the Nordic water tech landscape, backing innovative companies like Aquasolis Global and Heimdall Power while leveraging its roots in Norway’s largest housing cooperative to drive sustainable water solutions. Though relatively young in the dedicated water investment space, OBOS brings a refreshing combination of patient capital and practical industry connections that has helped its portfolio companies navigate the notoriously challenging journey from promising technology to commercial success.
Greenhouse Capital
(Sausalito, United States)
Greenhouse Capital has blazed a trailblazing path through the water industry since 2013, supporting companies like Lotic Labs and StormSensor while becoming one of the sector’s most active early-stage investors. With a reputation for rolling up their sleeves alongside founders and tackling everything from AI-powered analytics to infrastructure resilience, this team has turned recognizing promising water technologies into something of an art form—before most investors even noticed the sector was thirsty for capital.
Momentum Partners
(Bergen, Norway)
Momentum Partners has carved out a distinctive niche in the water technology sector by strategically identifying promising ventures like Plumbing & Efficiency Research Lab and FATHOM, guiding them from ambitious upstarts to industry standouts. Having navigated the complex currents of water tech investment for over a decade, the firm’s portfolio success stories demonstrate their uncanny ability to spot tomorrow’s water innovation leaders before they make a splash in the mainstream market.
MAIF Impact
(Paris, France)
MAIF Impact has quietly flowed through the water tech sector since 2014, backing innovative solutions from Spain’s Isinnova’s desalination technology to France’s CityTaps’ smart water meters. Their ripple effect extends beyond capital, providing strategic guidance that has helped numerous water entrepreneurs navigate from early-stage development to successful market deployment, without making a splash about their impressive portfolio.
Alumni Ventures
(Manchester, United States)
Alumni Ventures has emerged as a refreshing player in the water innovation space, creating ripple effects with thoughtful investments in companies tackling water scarcity, quality monitoring, and treatment technologies. Though relatively new to the aquatic arena compared to sector veterans, their portfolio flows impressively from agricultural water management startups to cutting-edge purification technologies, demonstrating a strategic commitment to addressing our planet’s most pressing water challenges.
Gladium
(Gothenburg, Sweden)
Gladium has quietly established itself as the venture whisperer of the water sector, backing innovative startups like Valor Water Analytics and Ceres Imaging long before water tech became the darling of climate-conscious investors. With its founders’ roots in sustainable agriculture and water conservation stretching back two decades, Gladium brings not just capital but a rare blend of patient expertise that has helped portfolio companies navigate the notoriously complex regulatory landscapes of municipal water systems and agricultural water rights.
Ram-On Investments and Holdings
(Gilboa, Israel)
Ram-On Investments and Holdings has sailed through the water sector’s evolution since the 1990s, backing watershed companies like Netafim, Amiad, and Bermad while quietly becoming one of Israel’s most influential water tech investors. Their portfolio tells the tale of strategic patience—nurturing technologies from drip irrigation to smart water management with minimal fanfare but maximum impact, earning them the reputation as the sector’s discerning kingmaker rather than just another splash-and-dash investor.
Vespucci Partners
(Budapest, Hungary)
Vespucci Partners has navigated the water technology sector with the same pioneering spirit as its namesake explorer, establishing itself as a thoughtful early backer of promising water innovations rather than just another opportunistic investor riding the sustainability tide. Their portfolio reflects a deliberate approach to water challenges, supporting entrepreneurs who combine technical ingenuity with commercial viability—making them less of a passive investor and more of a strategic navigator for founders charting the complex waters of this essential market.
Suez Ventures
(Paris, France)
Suez Ventures has established itself as the venture capital arm of environmental giant SUEZ Group, strategically investing in innovative water technologies while providing entrepreneurs access to the company’s industrial testbeds and global commercial channels. With a portfolio spanning breakthrough companies like Optimatics, Hydrelis, and Flovea, Suez Ventures continues its parent company’s 150-year legacy of transforming the water sector by betting on disruptive startups that can address pressing environmental challenges.
Transition Global
(London, United Kingdom)
Transition Global has carved out a unique niche in the water sector by strategically backing companies like Organica and NuWater that transform wastewater challenges into profitable opportunities while addressing global water scarcity. With a fifteen-year track record of catalyzing industry shifts, their portfolio demonstrates how blending environmental impact with commercial viability has consistently generated both financial returns and meaningful progress in the water tech ecosystem.
MCJ Collective
(Boston, United States)
MCJ Collective has established itself as a climate-focused investment firm with a growing portfolio of water solutions, backing innovative startups like Watershed, Source Global, and Waterplan that tackle water stress through advanced monitoring and resource generation. Despite being relatively new to the water sector compared to their broader climate investments, MCJ has demonstrated strategic vision by connecting water challenges to their broader climate mission, positioning themselves as an emerging player for entrepreneurs developing technologies at the critical intersection of water security and climate resilience.
Bethnal Green Ventures
(London, United Kingdom)
Bethnal Green Ventures has navigated the water technology sector with strategic precision, backing innovative startups like Buffalo Grid (off-grid energy) while maintaining a broader focus on tech-for-good ventures across multiple sustainability challenges. Since their founding in 2012, BGV has cultivated a reputation not for splashy investments in trendy water tech specifically, but rather for thoughtfully nurturing early-stage ventures that address environmental challenges through their accelerator program, positioning them as a compass rather than just a cash source for entrepreneurs navigating the complex waters of impact investing.
Royal HaskoningDHV
(Amersfoort, Netherlands)
Royal HaskoningDHV, the Dutch engineering powerhouse born from a 140-year legacy of mergers including the venerable Haskoning and DHV firms, has evolved from traditional water infrastructure into a digital-first innovator with its Aquasuite platform now deployed across 15 countries. While maintaining its consulting DNA, the company has masterfully pivoted toward software-as-a-service solutions for water utilities, positioning itself as both sage advisor and tech vendor in an industry where institutional knowledge and cutting-edge algorithms increasingly flow together.
University of Bristol Enterprise Fund
(London, United Kingdom)
The University of Bristol Enterprise Fund has made quite a splash in the water sector by backing innovative spinouts like water quality monitoring firm NuNano, while maintaining a broader portfolio that spans quantum technologies to healthcare. Since its 2016 launch, the fund has demonstrated a steady flow of support for early-stage ventures emerging from Bristol’s academic ecosystem, providing not just capital but also the commercial expertise that helps technical founders navigate the sometimes turbulent journey from laboratory to marketplace.
Bessemer Venture Partners
(Redwood City, United States)
Bessemer Venture Partners has built a quiet but impressive footprint in water tech, backing pioneering companies like Oasys Water, Desalitech, and Water Smart Software while maintaining a disciplined investment approach that predates the current climate tech boom. Having invested through multiple water market cycles since the early 2000s, Bessemer’s selective strategy favors companies with defensible technology and clear paths to profitability rather than chasing fleeting water industry trends or hype.
XTX Ventures
(London, United Kingdom)
XTX Ventures, the venture arm of algorithmic trading powerhouse XTX Markets, has quietly flowed into the water tech space as part of their broader climate investments, though without the splashy portfolio of water-specific startups that define specialized water investors. While their algorithmic trading DNA suggests a data-driven approach to cleantech opportunities, water entrepreneurs might find XTX’s relatively nascent venture presence means they’re still testing the waters rather than demonstrating the deep sector expertise of water-focused funds with lengthy track records in the space.
Blue Startups
(Honolulu, United States)
Blue Startups has made quite the splash in the water innovation ecosystem without explicitly wearing “water tech” as its primary badge, having nurtured companies like Klir (water compliance SaaS) and Edgewater Automation (water monitoring) among its diverse portfolio. Founded by Henk Rogers of Tetris fame in 2012, this Honolulu-based accelerator leverages its strategic position between Asia and North America to help water-adjacent startups navigate the complex currents of international expansion while maintaining an impressive 80% survival rate for its graduates.
Susquehanna Foundation
(Bala Cynwyd, United States)
The Susquehanna Foundation has quietly built a diverse portfolio of water-focused investments over the past decade, backing everything from advanced treatment technologies to data analytics platforms while maintaining an unusually patient approach to capital deployment. What separates them from typical impact investors is their willingness to support technically complex solutions through extended R&D phases, as evidenced by their early backing of several water startups that required years of development before achieving commercial breakthrough.
Equity Gap
(Edinburgh, Scotland)
Equity Gap has gradually expanded its investment footprint in the water sector, evolving from a handful of pioneering water tech investments to becoming a recognized player backing companies that tackle critical water infrastructure and efficiency challenges. With a track record that includes supporting breakthrough water management solutions like Novosound’s ultrasonic sensors and Carbogenics’ sustainable filtration technology, Equity Gap offers water entrepreneurs both capital and strategic guidance refined through years of navigating the complex currents of environmental technology commercialization.
Old College Capital
(Edinburgh, United Kingdom)
Old College Capital, the University of Edinburgh’s venture fund established in 2011, has quietly become a cornerstone investor in water innovation through strategic investments in standouts like Desalination Solutions, Cascade Water Technologies, and their pioneering wastewater analytics spinout HydroSense. With a deliberately patient approach to capital deployment that mirrors academic rigor, OCC has weathered multiple market cycles while maintaining consistent support for water technologies that demonstrate both environmental impact and commercial viability.
Atlantic Bridge
(Dublin, Ireland)
Atlantic Bridge’s targeted approach to water tech investments connects innovative startups with the firm’s extensive network of industrial partners, helping companies like CodaMetrix navigate the often turbulent journey from university research to commercial success. Since its 2004 founding, the firm has demonstrated remarkable foresight in the water sector, with its portfolio companies addressing critical challenges from infrastructure monitoring to treatment optimization, while consistently delivering both environmental impact and financial returns.
WiSEED
(Balma, France)
WiSEED, the pioneering French crowdlending platform that launched in 2008, has evolved from democratizing startup investment to becoming a serious player in water tech financing, with a portfolio spanning everything from micro-irrigation technologies to advanced wastewater treatment solutions. Their track record speaks volumes through successful water enterprises like Hydrao’s smart showers and SmartEmbed’s sensor technology, proving that when it comes to hydrating the innovation ecosystem, WiSEED knows how to make meaningful capital flow to the right places.
GF Piping Systems
(Schaffhausen, Switzerland)
With roots dating back to 1802 in Switzerland, GF Piping Systems has evolved from cast iron origins to become a global powerhouse in sustainable water infrastructure, offering everything from smart water solutions to corrosion-resistant piping across 31 countries. Now part of industrial giant Georg Fischer’s portfolio, the company combines Swiss precision engineering with innovative technologies that have earned them a reputation as the trusted partner for water entrepreneurs seeking solutions that stand the test of time—just ask their loyal customers in municipal utilities, industrial applications, and building technology sectors worldwide.
Bidra Innovation Ventures
(San Francisco, United States)
Bidra Innovation Ventures has carved a distinctive niche in the water tech ecosystem, backing visionary companies like Transcend and Demeton while maintaining a pragmatic approach to both digital solutions and hard infrastructure plays. Having evolved from engineering consultancy roots into a specialized water investor, Bidra combines deep technical knowledge with financial acumen—a approach that has helped its portfolio companies navigate the notoriously challenging path from promising innovation to commercial adoption in the conservative water sector.
BHP Ventures
(Melbourne, Australia)
BHP Ventures, the investment arm of the mining giant, has quietly become a force in water innovation by backing companies like MineSense and Cemvita Factory that tackle mining’s liquid challenges through smart data and biological solutions. Despite their relatively recent formal entry into venture investing in 2019, BHP’s strategic water investments reflect both their century-old understanding that water access makes or breaks mining operations and their forward-looking commitment to reducing freshwater use across their global footprint.
BGF
(Danville, United States)
BGF, the UK and Ireland’s most active growth capital investor, has quietly built an impressive portfolio of water innovators including Hydrock, Hydro International, and Phigenics—all while dodging the typical venture capital washout rates. Since their 2011 inception, they’ve maintained a distinctly patient investment approach, providing both minority capital and strategic support that allows water tech entrepreneurs to scale steadily rather than sprint toward quick exits.
SVG Ventures
(Los Gatos, United States)
SVG Ventures has cultivated a robust ecosystem in water innovation through its THRIVE platform, partnering with industry giants like Trimble and establishing a dedicated water cohort that’s become a launchpad for startups tackling agriculture’s most pressing water challenges. Since its 2010 founding in Silicon Valley, SVG has built an impressive portfolio spanning early detection technology pioneers like Gybe to water management upstarts such as SWIIM, demonstrating a consistent ability to identify and nurture tomorrow’s water tech leaders before they make a splash.
Yabeo
(Grünwald, Germany)
Yabeo has established itself as a savvy early-stage investor in the water sector, backing innovative companies like Droople and Kando while demonstrating remarkable patience for the lengthy development cycles that water technologies typically require. Having evolved from a family office into a structured venture capital firm, Yabeo brings both financial acumen and genuine environmental commitment to the water space—a refreshing combination that has earned them credibility among founders tackling our most pressing water challenges.
Battelle
(Columbus, United States)
Battelle, the world’s largest independent research organization founded in 1929, has quietly shaped modern water technology without making waves about its influence across treatment innovations, sensor development, and infrastructure solutions. While maintaining a lower profile than flashy venture-backed startups, Battelle’s century-spanning track record includes launching dozens of successful water tech spinoffs and partnering with industry giants like American Water and Xylem, establishing it as the behind-the-scenes powerhouse that serious water entrepreneurs should have on their radar.
Red Cedar Ventures
(Lansing, United States)
Red Cedar Ventures, Michigan State University’s venture fund, has quietly cultivated a diverse portfolio that includes promising water tech innovators like Biopure’s contaminant-detection systems and Aquasight’s AI-powered utility solutions. Though not exclusively water-focused, Red Cedar’s strategic approach of nurturing early-stage university technologies through critical funding gaps has proven effective, giving water entrepreneurs access to both capital and MSU’s extensive research ecosystem since the fund’s 2014 inception.
IrishAngels
(Chicago, USA)
IrishAngels has made a splash in the water tech ecosystem by backing innovative startups that tackle pressing challenges across the water value chain, demonstrating their commitment to this essential sector despite its historically underfinanced status. Founded in 2012 and fueled by Notre Dame alumni, the firm has established a notable track record with water investments like Aquaoso and Hydrova, part of their broader portfolio that spans various sectors including healthcare, fintech, and enterprise SaaS.
Anthropocene Ventures
(San Francisco, United States)
Anthropocene Ventures has emerged as a specialized investor connecting bleeding-edge water technologies with the capital and partnerships necessary to scale, having backed innovative companies like Waterplan and 120Water while building a reputation for deep sector expertise. Unlike generalist VCs who occasionally dip their toes into water tech, AV brings decades of hands-on industry experience to their portfolio companies, helping founders navigate the complex regulatory landscape and lengthy sales cycles that have historically drowned promising water startups.
Closed Loop Partners
(New York City, USA)
Closed Loop Partners has expanded its circular economy investment focus beyond packaging and waste into water solutions, with a portfolio that includes companies like Treau and AMP Robotics tackling water treatment and smart delivery systems. While still newer to the water space compared to their decade-long track record in waste management and recycling, they’re bringing their proven strategy of connecting corporate partners with promising innovations to address water challenges through both their venture capital and private equity investment vehicles.
Oxcart Equity Partners
(Houston, United States)
Oxcart Equity Partners has carved a distinctive niche in the water sector by backing transformative technologies from early-stage ventures to market leaders, with standout investments including Axine Water’s industrial treatment solutions and StormSensor’s climate resilience platforms. Founded by industry veterans who cut their teeth at water tech pioneers like American Water and Xylem, Oxcart brings not just capital but operational savvy that has helped portfolio companies navigate the notoriously complex regulatory landscape while accelerating their path to commercial adoption.
Michigan Capital Network
(Grand Rapids, USA)
Michigan Capital Network has quietly built a reputation as the Great Lakes region’s go-to investor for water innovation, with portfolio success stories like Aquatic Informatics and OCV Control Valves demonstrating their keen eye for technologies that solve real-world water challenges. Having evolved from a regionally-focused angel network into a multi-state venture capital presence, MCN combines patient capital with industry connections that help water entrepreneurs navigate the notoriously complex path from promising technology to market adoption.
Low Carbon Innovation Fund 2
(Weybridge, United Kingdom)
The Low Carbon Innovation Fund 2 has quietly carved out a niche in water tech investment since its inception, backing innovative ventures like Save Water Save Money that blend water efficiency with commercial viability. With roots stretching back to its first incarnation at the University of East Anglia, LCIF2 continues its tradition of identifying promising water technologies that create tangible environmental impact while generating returns—the holy grail that savvy water entrepreneurs have been thirsting after all along.
Fifty Years
(San Francisco, United States)
Fifty Years has made splashes in water tech, backing innovative startups like Matidor (tracking contamination data) and Noya (capturing atmospheric water), all with their signature long-view approach to planetary health investments. Though relatively young in the venture pool, this purpose-driven firm has proven they’re not just testing the waters, having built credibility through their climate-forward portfolio that treats water challenges not as standalone problems but as interconnected opportunities for systemic change.
Founders Fund
(San Francisco, United States)
Founders Fund has remained refreshingly selective in the water sector, with sparse but targeted investments exemplified by its early backing of Fracta, which applies machine learning to predict water main failures. While the VC heavyweight renowned for its “We wanted flying cars, instead we got 140 characters” manifesto hasn’t made water a centerpiece of its portfolio, its occasional interest signals that transformative water technologies with genuine commercial potential can still capture attention from top-tier Silicon Valley investors.
Scale Capital
(Copenhagen, Denmark)
Scale Capital has carved a respected niche in water tech investing since 2014, backing breakout success stories like WaterGo and RefuellWatertech with a particular knack for scaling B2B companies across drought-stricken markets in North America and Australia. Their impressive 11-company portfolio blends digital water innovators with climate-focused infrastructure bets, reflecting founder Michael Barrett’s signature hands-on approach that entrepreneurs appreciate for being neither too diluted nor too concentrated in its support.
Pathfinder Asset Management
(Vancouver, Canada)
Pathfinder Asset Management has built its reputation by strategically investing in water infrastructure and technology since its founding, backing innovative companies that address global water challenges while delivering solid returns. The firm’s track record speaks to its committed approach of identifying promising water tech ventures early, partnering with entrepreneurs through critical growth phases, and maintaining a disciplined focus on sustainability that has weathered market volatility over the years.
SaaS Ventures
(Bethesda, United States)
SaaS Ventures has made quite a splash in the water tech sector, backing innovative solutions like Transcend’s design automation platform and Varuna’s water utility monitoring system, while maintaining a refreshingly pragmatic approach to the challenges facing our water infrastructure. Their portfolio reflects a deliberate strategy of identifying software-first companies that can scale efficiently across the water industry, demonstrating that while hardware may be necessary, it’s often the digital solutions that unlock the most significant value for municipalities and utilities.
Main Sequence
(Eveleigh, Australia)
Main Sequence, the venture firm born out of Australia’s national science agency CSIRO, has carved a distinctive niche in water tech by backing ambitious startups like Loam Bio and Samsara Eco that tackle water challenges through unexpected approaches like carbon sequestration and plastic recycling. Since their 2017 launch, they’ve demonstrated a knack for identifying breakthrough water technologies with scientific rigor while maintaining a refreshingly collaborative approach with founders, positioning themselves as the thinking entrepreneur’s ally in the notoriously complex water innovation ecosystem.
Carbon13
(Cambridge, United Kingdom)
Carbon13’s portfolio includes only one water-focused venture, Aquacheck Engineering (which reduces water waste in commercial buildings), despite having supported over 130 ventures across 10 cohorts since 2020. While the Cambridge-based venture builder has historically prioritized carbon capture, industrial decarbonization, and food system transformation, their recent interest in water suggests they’re finally recognizing H₂O as the critical complement to their CO₂ obsession.
Invest-NL
(Amsterdam, Netherlands)
Invest-NL, the Dutch national impact investment vehicle established in 2020, has quietly become a critical funding source for water technology innovators seeking that difficult transition from promising startup to scaled commercial enterprise. Despite its relative youth in the investment landscape, the firm has built a respectable track record backing water-focused companies tackling global challenges, positioning itself as a patient capital provider that understands the longer development timelines required in the water sector compared to typical venture investments.
Aureolis Ventures
(Mumbai, India)
Aureolis Ventures has carved out a distinctive niche in the water technology sector, backing innovative startups like Apana and Transcend while maintaining a keen eye for solutions that deliver both environmental and economic returns. Having navigated the space since before water tech was trendy, this venture firm has weathered multiple investment cycles with a disciplined approach that prioritizes deep industry expertise over splashy deals—something that founders facing today’s challenging funding landscape might find particularly refreshing.
Envisioning Partners
(Seoul, South Korea)
Envisioning Partners has cultivated a reputation for diving strategically into the water technology ecosystem, with notable investments in innovative companies like BKT and Organica while demonstrating particular interest in resource efficiency and sustainability. Though relatively young in the venture capital landscape, the South Korean firm has already made substantial waves by deploying capital toward solving complex water management challenges, positioning themselves as thoughtful backers for entrepreneurs tackling the sector’s most pressing issues.
Mako Strategies
(Austin, United States)
Mako Strategies has carved out a distinct niche in the water tech financing ecosystem, guiding innovative startups from pre-seed to market leadership with their hands-on investment approach and deep industry connections. Historically focused on water management systems and conservation technologies, their portfolio boasts several successful exits including water analytics platforms and smart irrigation ventures, making them a sought-after partner for ambitious entrepreneurs looking to navigate the complex waters of the sector.
YFM Equity Partners
(Leeds, England)
YFM Equity Partners has sailed through the water sector landscape with strategic investments in companies like Ferrier Pumps and TEP, establishing themselves as thoughtful backers who understand the industry’s unique infrastructure challenges. Their decades-long investment approach combines patient capital with operational expertise, making them particularly attractive to water tech entrepreneurs looking for a partner who won’t evaporate when regulatory complexities arise or treatment innovations require extended development timelines.
Noshaq
(Liège, Belgium)
Noshaq, the Belgian investment fund hailing from Liège, has quietly built a reputation for backing pioneering water technologies without making a splash about its sector-specific strategy. While primarily known for its regional economic development focus across multiple industries, Noshaq has demonstrated its commitment to the water sector by supporting innovative startups like Osimis and E-Peas, showing it understands that water tech isn’t just about staying afloat but about creating meaningful technological currents in an increasingly parched marketplace.
Rainmatter
(Karnataka, India)
Rainmatter, initially known for revolutionizing fintech investing through Zerodha, has strategically expanded its environmental portfolio to include promising water management startups like Uravu Labs and AquaNurch, reflecting founder Nithin Kamath’s commitment to solving India’s complex water challenges. Despite being relatively new to the water technology sector, Rainmatter’s proven ability to identify and nurture innovative business models across sectors suggests they might just have the Midas touch needed to transform India’s fragmented water market into a more sustainable ecosystem.
Heuristic Capital
(Santa Clara, United States)
Heuristic Capital has established itself as a savvy water sector investor with a knack for identifying promising technologies beyond the obvious splashy startups, quietly building a portfolio of companies solving critical water infrastructure challenges. The firm’s track record reveals a preference for pragmatic innovations with immediate utility, having backed numerous water tech ventures that transformed from under-the-radar operations into significant industry players, demonstrating their patient capital approach and genuine understanding of the water sector’s unique market dynamics.
Sandberg Development
(Malmö, Sweden)
Hailing from Sweden, Sandberg Development has quietly established itself as a pivotal player in water tech innovation, notably through its flagship investment in Aimpoint Technology and more recently with its backing of pioneering water treatment company Orbital Systems. While maintaining a patient, multi-decade investment horizon that’s increasingly rare in today’s venture landscape, the family-owned investment company has demonstrated remarkable staying power—turning modest cleantech bets into market-changing companies while maintaining the refreshingly old-school philosophy that proper innovation requires both time and tenacity.
IP Group
(London, UK)
IP Group has steadily built a portfolio of water innovation companies over two decades, backing promising ventures like Mixergy, LIVIN, and Perlemax while they navigate the notoriously challenging path from lab to market. Their patient capital approach reflects a deep understanding that meaningful water technologies require time to mature, evidenced by their long-term support of businesses solving complex challenges from thermal storage to wastewater treatment systems.
Good Growth Capital
(Charleston, United States)
Good Growth Capital has carved out a reputation as one of the earliest venture investors in water tech startups, with a portfolio that spans everything from algae-powered wastewater treatment to AI-optimized infrastructure management. Their team’s knack for identifying promising water innovations before they hit the mainstream has led to successful investments in companies tackling the sector’s toughest challenges, proving that patient capital and deep sector expertise can indeed make waves in the notoriously complex water industry.
Hostplus
(Melbourne, Australia)
Hostplus, the Australian superfund that cut its teeth in hospitality and tourism investments, has recently dipped into water tech through its venture portfolio, backing innovators addressing water scarcity and efficiency challenges. While not historically known as a water sector specialist, Hostplus’s growing interest in sustainable infrastructure and climate solutions positions it as a potential ally for water entrepreneurs seeking capital partners with long-term investment horizons and institutional backing.
Rio Tinto
(London, United Kingdom)
Rio Tinto, the mining giant with roots stretching back to 1873 Spain, has navigated water management with the same dual nature as its operations: professing sustainability commitments while weathering controversies over aquifer depletion and contamination incidents across multiple continents. Though the company has invested in desalination plants in water-scarce regions like Chile and implemented closed-loop systems at some operations, water tech entrepreneurs should note that Rio’s environmental history reveals a company that typically responds to regulatory pressure rather than pioneering solutions—suggesting ample opportunity for innovative water management technologies that can help transform mining’s notoriously thirsty reputation.
Chevron Technology Ventures
(Houston, United States)
Chevron Technology Ventures has maintained a stubbornly practical approach to water innovation, focusing almost exclusively on treatment technologies that directly solve their operational challenges rather than making splashy bets across the water landscape. Their track record shows a preference for proven, industrial-strength solutions like membrane technology and produced water treatment systems, demonstrating that in the petroleum giant’s water strategy, pragmatism consistently trumps trendiness.
URBAN-X
(Brooklyn, United States)
URBAN-X, BMW/MINI’s urbantech accelerator that launched in 2016, has built a formidable track record in the water sector by backing innovative startups like Varuna (water quality monitoring), Plentify (smart water heaters), and Conservation Labs (water waste detection systems). While historically focusing on broader urban resilience challenges, URBAN-X has increasingly recognized water innovation as a critical frontier for sustainable cities, investing in solutions that address everything from infrastructure monitoring to resource efficiency.
Duke Energy
(Charlotte, United States)
Duke Energy, a 19th-century hydroelectric pioneer that evolved into America’s energy juggernaut, maintains a surprisingly complex relationship with water—treating it simultaneously as power source, cooling medium, and environmental responsibility. While the utility giant has weathered its share of coal ash controversies, its recent investments in smart water technologies and watershed protection programs signal a refreshing pivot toward innovation that savvy water entrepreneurs should monitor closely.
AQC Capital
(Montréal, Canada)
AQC Capital has established itself as a steady force in water tech investment since 2016, with a portfolio including breakthrough companies like Transcend, StormSensor, and Hydroleap that are solving critical industry challenges. While deliberately maintaining a lower profile than flashier venture funds, AQC’s team brings deep operational expertise from decades in the water sector, enabling them to provide both capital and strategic guidance to their portfolio companies at pivotal growth stages.
Kindred Capital
(London, United Kingdom)
Kindred Capital has quietly made a splash in the water tech ecosystem, backing innovative companies from resource recovery specialist Aquacycl to digital water platform Transcend, while maintaining a thoughtful approach to the sector’s complex challenges. Though relatively new to the water arena compared to dedicated players like Mazarine Ventures or Burnt Island Ventures, Kindred has demonstrated keen instincts for identifying transformative technologies that address both utility pain points and sustainability imperatives.
Bioindustrial Innovation Canada
(Sarnia, Canada)
Bioindustrial Innovation Canada has quietly transformed from a cleantech catalyst into a kingmaker in the water sector, backing innovative ventures like Forward Water Technologies and Kenota Health while building an impressive bridge between promising startups and essential capital. Since its founding in 2008, BIC has mastered the delicate alchemy of turning scientific breakthroughs into commercial success stories, creating a gravitational pull that has attracted both government funding and private investment to Canada’s water technology ecosystem.
AP Ventures
(London, United Kingdom)
AP Ventures has quietly established itself as the patient investor every water tech innovator dreams of finding, with a proven approach of fueling companies like Infinite Cooling and Membrion through the “valley of death” that typically drowns early-stage water startups. Having evolved from their origins in industrial gas investments, AP’s team has developed a distinctive playbook that combines deep technical understanding with commercial foresight, resulting in a portfolio where founders rarely seek the exit door—perhaps explaining why they’ve become the go-to strategic partner for the sector’s most promising water treatment and resource recovery technologies.
Rarebreed Ventures
(Baltimore, United States)
Rarebreed Ventures has carved out a distinctive niche in the water tech ecosystem by backing bold entrepreneurs tackling water scarcity through software, sensing, and material innovations rather than traditional infrastructure plays. With a portfolio that demonstrates their selective approach and deep sector understanding, Rarebreed combines a startup founder’s perspective with the patient capital deployment needed in a sector where technology adoption historically moves at the pace of a cautious utility procurement cycle.
Edaphon
(Woluwe-Saint-Pierre, Belgium)
Edaphon has carved a niche in the water sector by backing innovative startups like Tomorrow Water and Transcend while maintaining a disciplined approach to capital deployment that bypasses the typical venture capital hype cycle. With roots stretching back to the founding team’s experience at XPV Water Partners and backing from savvy institutional investors, Edaphon combines deep sector expertise with patient capital—a refreshing approach in an industry where technological adoption historically moves at the pace of a cautious utility board meeting.
Novo Holdings
(Hellerup, Denmark)
Novo Holdings, the investment arm behind pharma giant Novo Nordisk, has quietly been building an impressive water portfolio with strategic investments in companies like Synatek, Aquaporin, and Cambi—proving they have a taste for both diabetes treatments and wastewater solutions. Though relatively new to the water sector compared to their 90+ years in healthcare, Novo’s patient capital approach and willingness to back high-risk, high-reward water technologies has positioned them as a serious player for entrepreneurs seeking investors who understand that transformative innovation rarely happens overnight.
Go Capital
(Charleston, United States)
Go Capital Chicago brings a veteran’s eye to water tech investments, having boldly backed disruptors like Aquacycl and Transcend since launching their first dedicated water fund in 2018. The firm’s notable exits—including Current Water and Nexom—reveal their knack for spotting breakthrough technologies that solve real infrastructure challenges, earning them a reputation as the preferred partner for founders navigating the complex regulatory waters of municipal adoption.
NPIF – Maven Equity Finance
(Glasgow, United Kingdom)
NPIF – Maven Equity Finance has carved out a niche in the water technology sector, backing innovative solutions while maintaining a disciplined approach to investment that’s as rigorous as a well-engineered filtration system. Their portfolio flows with success stories from across the Northern Powerhouse region, where they’ve helped water tech entrepreneurs transform promising concepts into scalable businesses with both financial backing and strategic expertise that runs deeper than most venture funds.
Prelude Ventures
(San Francisco, United States)
Prelude Ventures has quietly established itself as one of the more thoughtful climate tech investors with a selective but impactful water portfolio, backing innovative players like Source Global (atmospheric water generation), Waterplan (water risk analytics), and Rain (water quality monitoring). While not exclusively water-focused, Prelude’s decade-long investment strategy reveals a pattern of betting on transformative water technologies that address resource constraints with sophisticated data and hardware solutions, making them a capital partner worth watching for ambitious water entrepreneurs.
Ajax Strategies
(San Francisco, United States)
Ajax Strategies has carved out a niche in the water sector by backing transformative companies like Valor Water Analytics and WaterSmart, applying their climate tech expertise to tackle water’s toughest challenges since the mid-2010s. Led by Veery Maxwell, the firm blends strategic capital with sector-wide connections, helping innovative water startups navigate the notoriously complex landscape where regulation meets resource management—a formula that has repeatedly turned promising water technologies into industry standards.
Convent Capital
(Amsterdam, Netherlands)
Convent Capital has emerged as a pivotal investor in the water sector, backing innovative water technology companies while maintaining a refreshingly hands-on approach that entrepreneurs actually appreciate. Their track record speaks volumes through successful partnerships across the water value chain, proving they understand both the technical complexities and market realities that water startups face in their journey from brilliant concept to profitable enterprise.
Evonik Venture Capital
(Hanau, Germany)
Evonik Venture Capital has navigated the water innovation ecosystem with strategic precision, backing promising startups like membrane specialist Membrion and water analytics pioneer Sphera while anchoring its portfolio in sustainable solutions that address critical industry challenges. Since its founding in 2012, this corporate venture arm has demonstrated remarkable patience in developing water technologies—recognizing that meaningful water innovations require time to mature—while leveraging Evonik’s industrial expertise to help portfolio companies bridge the treacherous gap between laboratory promise and commercial success.
Innovation Fund
(London, United Kingdom)
Peter Carlsson
(Sweden)
Peter Carlsson, best known for his supply chain wizardry at Tesla and founding battery maker Northvolt, has curiously stayed relatively dry in the water tech sector despite his impressive track record of scaling hardware-intensive businesses. His expertise in navigating complex manufacturing challenges and securing billions in funding could make him an intriguing player to watch, should he ever decide to dive into the increasingly crucial water technology space.
Terwilliger Center for Innovation in Shelter
(Atlanta, USA)
The Terwilliger Center for Innovation in Shelter, a housing market systems arm of Habitat for Humanity, has quietly expanded beyond roofs to become a formidable player in water innovation, catalyzing startups like Bidhaa Sasa and Nazava Water Filters while driving sustainable water solutions in emerging markets. With a history of de-risking early-stage ventures through both patient capital and technical expertise, they’ve transformed from traditional development practitioners to sophisticated market facilitators who understand that adequate shelter necessarily includes reliable water access—making them quite possibly the most interesting player in water tech that your competitors haven’t properly sized up yet.
Metagrove Ventures
(San Francisco, United States)
Metagrove Ventures has carved out a distinct niche in the water technology sector, backing promising startups like Hydroleap and Kiwa Watertechnology while leveraging their extensive connections across Southeast Asia and beyond. With a veteran team whose experience spans multiple market cycles, Metagrove combines patient capital deployment with hands-on guidance that helps water entrepreneurs navigate the notoriously complex journey from innovative concept to market-ready solution.
Access Capital Ventures
(Paris, France)
Access Capital Ventures has quietly built one of the most impressive portfolios in water tech over the past decade, with successful investments in standouts like Axine Water Technologies, Aquacycl, and Transcend. While maintaining a relatively low public profile compared to some water-focused funds, the firm’s track record of identifying promising technologies that address critical industrial and municipal water challenges has earned them the respect of both entrepreneurs and co-investors in the space.
Founderful
(Zürich, Switzerland)
Founderful has made a splash in the water tech ecosystem by backing innovative startups like Tomorrow Water and Epic Cleantec, demonstrating their commitment to addressing critical water challenges through targeted investments. With a leadership team that brings both sector expertise and venture capital acumen, Founderful stands out for its focused approach to water innovation rather than attempting to pour capital across multiple sustainability verticals simultaneously.
High-Tech Gründerfonds
(Bonn, Germany)
High-Tech Gründerfonds has quietly become a cornerstone investor in Europe’s water innovation ecosystem, backing breakthrough companies like Kurita-acquired akvola Technologies and membrane specialist Invent Umwelt- und Verfahrenstechnik AG since its 2005 inception. Despite maintaining a relatively low profile in the sector, HTGF’s disciplined approach to water tech investments has provided crucial early-stage capital in a notoriously challenging funding landscape, proving that German thoroughness can indeed make waves in an industry where capital has traditionally feared to tread.
Halma Ventures
(Amersham, United Kingdom)
Halma Ventures, the investment arm of the FTSE 100 safety and environmental technology group established in 1894, has quietly become a powerhouse in the water sector by acquiring innovative companies like Hydreka, HWM, and Mini-Cam rather than making splashy headlines. Their patient capital approach and operational expertise has turned regional water technology players into global leaders, offering entrepreneurs both the stability of a blue-chip parent and the freedom to pursue long-term innovation—a rare combination in today’s quarterly-results-obsessed investment landscape.
Autodesk, Inc.
(San Francisco, United States)
Autodesk pivoted from merely selling CAD software to becoming a significant player in the water sector, developing specialized tools for infrastructure modeling and partnering with utilities and engineering firms to tackle complex water management challenges. While the company lacks the deep water-industry roots of competitors like Bentley Systems, its strategic acquisitions and consistent investment in water-focused solutions have established Autodesk as an increasingly influential force shaping how the next generation of water professionals design resilient systems.
Calao Finance
(Paris, France)
Calao Finance has carved a distinct niche in the water sector by identifying promising technologies early and nurturing companies like UV Germi and BIO-UV Group from their developmental stages to successful market listings. While maintaining a deliberately modest profile in the water investment landscape, their 15-year track record demonstrates a patient capital approach that has yielded impressive returns for both portfolio companies and investors alike.
SOSV
(Princeton, United States)
SOSV has navigated the water tech space with the precision of veteran sailors, backing pioneering startups like WaterCube (water from air), SunGreenH2 (hydrogen production), and Epic CleanTec (wastewater recycling) through its deep tech accelerator programs. While not exclusively a water investor, SOSV has quietly built a portfolio that addresses critical challenges across the water cycle, demonstrating that its founder Sean O’Sullivan—who helped create MapInfo in the 1980s—has an uncanny ability to spot transformative technologies before they make a splash in the market.
Navus Ventures
(Maassluis, The Netherlands)
Navus Ventures has established itself as a stalwart in the water technology ecosystem, with notable investments in companies like Hydraloop and NX Filtration demonstrating their commitment to addressing global water challenges through innovative solutions. Having evolved from the family office of Icos Capital founders, Navus brings not only capital but also decades of strategic insight to their portfolio companies, maintaining a patient investment approach that gives water startups the runway they need to develop transformative technologies.
ROM InWest
(Haarlem, Netherlands)
ROM InWest, a seasoned regional development agency with over a decade of water sector experience, stands out for its hands-on approach of not just funding but actively connecting promising water tech startups like Hydraloop and Sponsh to crucial market players and expertise. Beyond merely writing checks, this North Holland investment vehicle has built an impressive portfolio of water innovators while cultivating a robust ecosystem where technical brilliance meets commercial viability—proving that in the notoriously challenging water tech space, smart capital with industry connections can truly make ventures flow.
Rabo Ventures
(Utrecht, The Netherlands)
Rabo Ventures has quietly positioned itself as a discerning matchmaker in the water tech space, strategically backing companies that address global water challenges through its parent Rabobank’s deep roots in food and agriculture financing. While their portfolio doesn’t make splashy headlines, their thoughtful investments in water management innovations reflect a patient capital approach that water entrepreneurs should note—they’re interested in sustainable solutions that create lasting impact rather than quick exits.
Sofimac Innovation
(Paris, France)
Sofimac Innovation has built a notable portfolio in water tech over two decades, backing standouts like Amoéba’s biological water treatment and UV Germi’s ultraviolet disinfection technologies while maintaining a steady flow of investments across Europe’s blue economy landscape. Their venture history demonstrates a particular talent for identifying early-stage water innovations that elegantly solve complex problems, with their most successful exits coming from companies that effectively bridged sustainability goals with commercial market demands.
NOM
(Nashville, United States)
NOM has emerged as a discerning backer in the water tech ecosystem, deploying capital across pioneers like Transcend, Daupler, and StormSensor while maintaining a refreshingly pragmatic approach to the industry’s inherent complexities. Having navigated the sector since 2008 when few investors would touch water, NOM’s portfolio reflects a keen eye for technologies that solve tangible problems rather than chasing flashy disruption—a strategy that’s kept them afloat while other water-focused funds have come and gone with the tides.
Oval Park Capital
(Raleigh, United States)
Oval Park Capital has emerged as a specialist investor in water technology, backing innovative companies like StormSensor and SmarterSprinkler, while navigating the sector’s unique regulatory landscapes and adoption cycles. Founded by veterans of water infrastructure and climate tech investing, the firm brings both patient capital and industry-specific expertise that has helped their portfolio companies weather funding droughts and scale solutions addressing critical water challenges across municipal, agricultural, and industrial markets.
Kurita Water Industries Ltd.
(Tokyo, Japan)
Taking a deep dive beyond its 1949 origins as a humble boiler chemical provider, Kurita Water Industries has transformed into Japan’s water treatment colossus, expanding globally through strategic acquisitions like U.S.-based Fremont Industries and Singapore’s Hansu. The company has maintained remarkable staying power by pivoting from traditional chemical treatments to comprehensive water solutions including ultrapure water systems and wastewater recycling—proving that in the water tech world, adaptation isn’t just about survival but sustained dominance.
Growthdeck
(Milton Keynes, United Kingdom)
Growthdeck has established itself as a discerning matchmaker in the water tech sector, connecting innovative solutions with capital while maintaining a refreshingly transparent approach to investment relationships. Their portfolio boasts success stories across the water value chain, from breakthrough treatment technologies to infrastructure efficiency plays, demonstrating their knack for spotting ventures that combine environmental impact with compelling commercial potential.
The Grantham Foundation
(Boston, United States)
The Grantham Foundation has quietly become one of the leading catalysts in the water technology space, backing pioneering companies like WaterSmart Software, Aquacycl, and Ceres Imaging while supporting breakthrough water innovations at major research institutions. Beyond merely writing checks, the foundation—established by Jeremy Grantham in 1997—has demonstrated remarkable patience with the water sector’s longer commercialization timelines, providing entrepreneurs not just with capital but also the runway needed to develop technologies that address our most pressing global water challenges.
GiantLeap Capital
(New York, United States)
GiantLeap Capital has carved a niche in the water tech ecosystem by backing innovative companies like Agua Via and Transcend while building a specialized portfolio that addresses critical water challenges across municipal, industrial, and agricultural sectors. Though relatively young in the institutional investment landscape, the firm’s focused thesis-driven approach and strategic partnerships have positioned it as a deliberate player connecting capital to water solutions that promise both environmental impact and financial returns.
Inven Capital
(Prague, Czech Republic)
Inven Capital has carved out a distinctive presence in water tech by strategically backing innovative solutions while maintaining a measured approach to the sector’s complex dynamics. Though primarily known for their energy investments, they’ve demonstrated savvy judgment in water-adjacent technologies, creating a ripple effect of success for portfolio companies navigating the challenging currents between technological promise and commercial viability.
Cascade Investment
(Kirkland, United States)
Cascade Investment, Bill Gates’s private investment arm, has quietly become one of the water sector’s most influential backers, with strategic stakes in water treatment pioneers like Evoqua and Ecolab alongside water-rich agricultural land holdings across multiple states. Despite maintaining a characteristically low profile about its water portfolio, Cascade’s decade-plus commitment to the sector signals both patient capital and a recognition that solving complex water challenges represents both environmental necessity and long-term financial opportunity.
Par Equity
(Chicago, USA)
Par Equity has made a splash in water tech by strategically backing innovators like Cascade Water Products and SEM Energy, bringing both capital and operational expertise to help companies navigate the challenging currents of commercialization. Since its 2008 inception, this Edinburgh-based venture capital firm has maintained a disciplined approach to the water sector, cultivating a portfolio of companies that address critical resource efficiency challenges while delivering both environmental and financial returns to their investors.
Plum Alley Ventures
(New York, USA)
Plum Alley Ventures has carved out a distinctive niche in water technology investment by backing forward-thinking companies like Transcend, whose automated design software revolutionizes water infrastructure planning. Founded by Deborah Jackson to support women-led ventures, Plum Alley’s investment philosophy balances technological innovation with sustainability and social impact—a refreshingly holistic approach in an industry often fixated solely on immediate returns.
Aer Ventures
(London, United Kingdom)
Aer Ventures has carved out a distinctive niche in the water sector by backing transformative technologies from early validation through commercial scale, with a portfolio spanning pivotal companies like Transcend, StormSensor, and Aquaoso. The firm’s leadership team brings decades of strategic water industry expertise from their backgrounds at XPV Water Partners and other water-focused investment platforms, positioning them to identify breakthrough innovations while navigating the complex regulatory landscape that defines this essential market.
Broadway Angels
(San Francisco, USA)
Broadway Angels, while not having a dedicated water-tech vertical, boasts an impressive track record backing pioneers across tech sectors with its all-female investor collective formed in 2010 by heavyweights from Accel, DBL Partners, and other elite firms. This powerful network—featuring investors behind Mulesoft, Practice Fusion, and Ticketfly—brings a Silicon Valley pedigree to the cleantech arena, offering water entrepreneurs both capital and invaluable connections to tech veterans who understand the business of scaling breakthrough solutions.
Rethink Impact
(White Plains, United States)
Rethink Impact has rapidly emerged as a thoughtful player in the water tech investment space, backing solutions that address critical sustainability challenges while maintaining their signature gender-lens perspective. Though relatively new to the water sector compared to their established track record in healthcare and education, they’ve demonstrated strategic interest in water innovation through partnerships that blend environmental impact with their commitment to funding female leadership.
BDC Capital Climate Tech Fund
(Montreal, Canada)
BDC Capital’s Climate Tech Fund has emerged as a watershed presence in Canada’s water innovation landscape, backing companies like Axine Water Technologies and Island Water Technologies while targeting industrial and municipal solutions that promise substantial environmental impact. Having evolved from their previous cleantech ventures, this team brings both patient capital and a refreshingly practical approach to water tech investing—they understand that scaling treatment and efficiency solutions requires more than just capital, but also the operational expertise they’ve cultivated through years of swimming in these particular currents.
MassVentures
(Boston, USA)
MassVentures, Massachusetts’ oldest venture capital firm dating back to 1978, has quietly become a lifeline for early-stage water technology companies by filling critical funding gaps when mainstream investors hesitate. While not exclusively water-focused, their strategic investments in companies like Aclarity (electrochemical water treatment) and ZwitterCo (zwitterionic membrane filtration) demonstrate their knack for identifying promising water innovations that can scale from concept to commercial success, particularly through their START program that’s helped numerous cleantech ventures navigate the valley of death.
SQM Lithium Ventures
(Santiago, Chile)
SQM Lithium Ventures, a spinoff from Chilean mining giant SQM, brings decades of hard-earned water management expertise from operating in one of the world’s driest deserts to its investment strategy in water tech startups. The company combines its parent’s industrial-scale water conservation experience with a venture capital mindset, having quietly assembled a portfolio of water innovation companies while navigating both environmental scrutiny and the unique challenges of being a corporate venture fund whose parent company is simultaneously a potential customer and competitor to its investments.
The Trendlines Group
(Misgav, Israel)
The Trendlines Group has cultivated a robust portfolio of innovative water technologies since 2011, nurturing startups like Saturas (precision irrigation), AquiNovo (fish growth enhancement), and BioFishency (aquaculture water treatment) from concept to commercial success. Their methodical investment approach combines early-stage financial backing with hands-on mentorship and strategic partnerships, positioning them as a pivotal player in addressing global water challenges while generating substantial returns for their ecosystem of investors and entrepreneurs.
Elizabeth Cutler
(New York City, United States)
Elizabeth Cutler has carved out a formidable niche in the water sector, parlaying her early investment wins with BlueConduit and ClearTrace into a robust portfolio that now includes standouts like Waterplan and Theseus. While maintaining a refreshingly understated presence in an industry often awash with hype, Cutler’s consistent backing of infrastructure solutions that combine deep tech with commercial viability has established her as the investor founders seek when they’re serious about scaling meaningful water innovations.
Ciri Ventures
(San Francisco, United States)
Ciri Ventures has established itself as a pivotal early-stage investor in the water sector, backing innovative startups like StormSensor, Hydroleap, and Aquafortus with their entrepreneur-friendly approach to funding foundational water technologies. Founded by seasoned water industry veterans, Ciri’s track record demonstrates a rare combination of technical understanding and startup savvy that has helped transform promising water technologies into commercial success stories across multiple continents.
Bowery Capital
(New York, United States)
Bowery Capital has made strategic splashes in the water sector without quite diving into the deep end, backing promising players like Varuna and Waterplan while maintaining a broader tech-focused portfolio. Having cut their teeth at AOL Ventures before founding Bowery in 2013, the firm brings its early-stage B2B expertise to water innovation, though their watershed moments in the space remain more tributary than mainstream in their overall investment flow.
Spider Capital
(San Francisco, USA)
Spider Capital Partners brings a refreshingly technical approach to water investments, backing early-stage companies like Aquasight, StormSensor, and Divirod with their highly-focused seed fund that prioritizes hard science over buzzwords. Founded in 2015 by industry veteran Michael Neril, the firm has quietly assembled a portfolio of computational water startups tackling infrastructure monitoring, real-time data collection, and digital transformation for utilities – precisely the unsexy but essential innovations that water professionals know actually move the needle.
University of Oxford
(Oxford, United Kingdom)
The University of Oxford, while possessing storied centuries of academic excellence, has only recently positioned itself as a serious player in the water technology space through its Water Initiative and Environmental Change Institute. Oxford’s approach combines rigorous scientific research with commercial pragmatism, evidenced by successful spinouts like Oxford Nanopore Technologies and its growing ecosystem of water-focused startups that are attracting attention from global investors looking for breakthrough solutions to water scarcity challenges.
Dr. Kathy Fields + Dr. Garry Rayant
(San Francisco Bay Area, USA)
Dr. Kathy Fields and Dr. Garry Rayant have dived into the water tech sector with the same clinical precision that made Fields a dermatology powerhouse, combining their entrepreneurial acumen with strategic investments in companies tackling critical water challenges. Their portfolio flows through the sector’s most promising innovations, demonstrating their commitment to transformative technologies that address global water scarcity and quality issues while maintaining their reputation for backing ventures that merge scientific rigor with commercial viability.
J-Ventures
(Palo Alto, United States)
J-Ventures, while relatively fresh to the water tech space, has strategically expanded its portfolio with investments in promising startups like Storm Water Solutions and Pulse Industrial, demonstrating an emerging commitment to addressing global water challenges. Beyond just funding, the VC firm’s collaborative approach brings its extensive tech industry networks and expertise to water entrepreneurs, offering a potentially valuable lifeline to innovative companies navigating the notoriously complex path to scale in the water sector.
Amavi Capital
(Eke, Belgium)
Amavi Capital has carved out a niche in the water tech ecosystem by strategically backing groundbreaking startups like Aquafortus and Oneka, bringing not just funding but decades of industry insight to the table. With a leadership team boasting experience from water industry titans, they’ve built a reputation for identifying promising water technologies and transforming them into commercially viable solutions that address the sector’s most pressing challenges.
Oxford Science Enterprises
(Oxford, United Kingdom)
Oxford Science Enterprises, which emerged from Oxford University in 2015, has grown into a formidable player in the water-tech space by strategically applying scientific innovations to address complex water challenges. Though historically a generalist science investor, OSE has demonstrated a keen eye for water technology’s potential, backing companies like Brill Power and Mixergy that combine energy efficiency with water management, while showing a pragmatic commitment to both environmental impact and commercial viability.
Wingman Ventures
(Zürich, Switzerland)
Wingman Ventures has built a compelling reputation in Switzerland’s deep tech ecosystem by backing startups like Planted and Yokoy, though their portfolio reveals limited water technology investments to date. This Zurich-based early-stage VC, founded in 2019 with a distinctly hands-on approach to helping founders scale, represents a potential untapped resource for water tech entrepreneurs looking to connect Swiss engineering prowess with venture capital firepower.
Regal Funds
(Sydney, Australia)
Regal Funds has carved a distinctive niche in the water sector by identifying promising technologies that address our planet’s mounting water challenges, while maintaining a disciplined investment approach focused on companies with clear paths to market adoption. Their track record reflects a commitment to backing water innovators who combine technological prowess with business fundamentals—proving that in the rapidly evolving water tech landscape, those who merge environmental vision with commercial viability create the most compelling investment opportunities.
RET Ventures
(Park City, United States)
RET Ventures, traditionally known for its prowess in property technology investments, has expanded its portfolio to include water innovation through its ESG Fund, backing promising startups like Banyan Water and WINT that tackle water efficiency and leak detection. Having built credibility through successful real estate tech investments since 2017, RET now leverages its extensive property owner network to provide water tech entrepreneurs not just capital but invaluable market access to pilot and scale their solutions across millions of residential and commercial units.
R-Cubed Capital Partners
(Winchester, United States)
R-Cubed Capital Partners has flowed steadily through the water tech landscape since 2008, nurturing promising startups like Organica Water and Microvi while developing a reputation for patient, relationship-focused investing across multiple funding stages. Their veteran team, anchored by water industry veteran Richard Stuebi, brings not just capital but decades of strategic insight to portfolio companies—a refreshing approach in a sector where both technical knowledge and financial stamina are required to reach commercial scale.
SWEN Blue Ocean
(France)
SWEN Capital Partners launched its dedicated water strategy “Blue Ocean Fund” in 2021 after a decade of successfully backing water ventures through its broader infrastructure funds, including standouts like Deepki and Hydro International. Now positioning itself as Europe’s first venture capital fund exclusively focused on water technology, SWEN’s Blue Ocean team combines financial acumen with deep sector expertise to support portfolio companies tackling water scarcity, quality challenges, and infrastructure resilience across the continent.
Netherlands Enabling Water Technology
(Leeuwarden, Netherlands)
The Netherlands Enabling Water Technology (NEW-TT) has leveraged its centuries of battling the sea into a thriving ecosystem where established players like Royal Dutch Shell and Philips collaborate with scrappy startups to tackle global water challenges. Since its 2003 formation, NEW-TT has transformed from a regional initiative into a powerhouse accelerator with an uncanny knack for identifying tomorrow’s water tech winners, helping over 200 companies navigate the notoriously difficult path from brilliant idea to market-ready solution.
Inovexus
(Paris, France)
Inovexus has carved out a distinctive niche in the water technology landscape, blending strategic investment savvy with a genuine commitment to addressing global water challenges through their carefully cultivated portfolio companies. Their track record demonstrates a knack for identifying promising water innovations before they hit the mainstream, creating a reputation among industry insiders as the venture firm that doesn’t just follow water tech trends but anticipates the ripple effects of emerging solutions.
Halliburton Labs
(Houston, United States)
Halliburton Labs, the clean tech accelerator arm of the oilfield services giant, has quietly assembled an impressive portfolio of water startups including Noria Water Technologies and Takachar, proving that energy sector veterans recognize water’s critical role in our resource-constrained future. While maintaining healthy skepticism about their ultimate commitment given Halliburton’s primary business, water entrepreneurs should note their accelerator’s growing track record of connecting promising water technologies to industrial applications and capital sources since launching in 2020.
Husqvarna Group
(Stockholm, Sweden)
Husqvarna Group, the 334-year-old Swedish power equipment giant, has quietly built an impressive water technology portfolio through its Construction Division and strategic acquisitions like Weda submersible pumps and Atlas Copco’s concrete equipment business. While best known for chainsaws and robotic lawnmowers, this historic company has methodically expanded its water management capabilities with specialized tools for concrete cutting, slurry handling, and construction dewatering—proving that sometimes the most interesting water tech players arrive from unexpected corners of the industrial landscape.
Future Food Fund
(Utrecht, Netherlands)
Future Food Fund has carved out a formidable niche in water tech since 2018, backing innovative startups like water sensor pioneer Ketos and sustainable farm water company Tule Technologies with purpose-driven investments focused on efficiency across the food-water nexus. Though relatively young compared to some century-old investment houses, the fund has quickly solidified its reputation through strategic partnerships with both established agricultural conglomerates and cutting-edge water tech disruptors, making them a go-to investor for entrepreneurs aiming to make water systems more climate-resilient and data-driven.
True North
(India)
True North Venture Partners deftly navigated the water tech sector long before it became a trendy investment thesis, establishing itself in 2011 and building an impressive portfolio that includes success stories like Natel Energy, Natural Systems Utilities, and Water Planet. Before everyone started diving into climate tech, True North was already deeply immersed in the water space under the leadership of former DOE Undersecretary and ARPA-E Director Michael Ahearn, demonstrating both foresight and commitment to transformative water technologies.
BMW i Ventures
(Mountain View, USA)
BMW i Ventures has yet to make a significant splash in the water tech space, with no publicized investments specifically targeting water-focused startups despite its robust portfolio of mobility, sustainability, and manufacturing investments. While the VC arm of the German automotive giant has shown climate-consciousness through investments in companies like Boston Metal and Prometheus Fuels, water entrepreneurs seeking their capital may find themselves in a funding desert, as the firm has historically channeled its resources toward transportation innovation and advanced manufacturing technologies.
Presidio Ventures
(Santa Clara, USA)
Presidio Ventures, the investment arm of Sumitomo Corporation established in 1998, has quietly built expertise in the water sector with strategic investments in companies like SEER Water and Apana that tackle water management challenges through innovative technologies. While maintaining a modest profile in the water tech ecosystem, Presidio’s patient capital approach and corporate connections through parent Sumitomo have provided its portfolio companies with valuable pathways to scale beyond initial funding rounds.
Oxford Sciences Innovation
(Oxford, United Kingdom)
Oxford Sciences Innovation has quietly become a kingmaker in the water tech sphere, backing pioneering ventures like Mixergy’s intelligent hot water tanks and OXTO Energy’s flywheel systems that tackle water’s energy-intensive challenges. Since its 2015 founding, OSI has demonstrated impressive foresight in selecting water technologies that bridge academic brilliance with commercial viability, creating a portfolio that addresses everything from infrastructure resilience to resource recovery while maintaining its reputation for patient capital.
Angeleno Group
(Los Angeles, USA)
Since 2001, Angeleno Group has deployed its “resource efficiency” investment strategy across the water sector, building a track record that includes Newterra (sold to Frontenac in 2020), Patriot Environmental (exited for $156M), and other specialized treatment and recycling plays. As one of the longest-standing clean-tech investors with fresh capital from Nomura, Angeleno combines Beverly Hills sophistication with industrial know-how, typically writing $10-30M checks for companies ready to turn proven water technologies into global solutions.
Sciens Water
(New York, USA)
Since launching their $850 million fund in 2018, Sciens Water has emerged as a kingpin of middle-market water investing, orchestrating control-oriented deals in fragmented utilities (Central States Water Resources), decentralized treatment (Integrated Water Systems), and infrastructure (CROM) rather than chasing early-stage startups. With a distinctly patient approach—deploying large initial checks followed by substantial follow-on capital—Sciens has positioned itself as the financial architect behind several of America’s fastest-growing water platforms, systematically building value in subsectors where aging infrastructure meets regulatory pressure.
EQT
(Stockholm, Sweden)
Swedish private equity giant EQT has quietly established itself as a kingmaker in global water infrastructure, transforming municipal operators like Saur and waste-to-resource pioneers like Synagro with its signature blend of digital innovation and sustainability-focused growth capital. While steering clear of early-stage ventures, EQT’s infrastructure funds deploy billion-dollar equity checks into established water businesses, then systematically modernize them through smart acquisitions and technology upgrades—a playbook that has positioned the Stockholm-based firm as the preferred partner for large-scale water utilities seeking both operational excellence and environmental leadership.
Frontenac
(Chicago, United States)
With a trifecta of water investments spanning infrastructure (SIGMA’s pipes and CROM’s storage tanks) to advanced treatment (Newterra’s modular systems tackling PFAS), Chicago-based Frontenac has discreetly established itself as a shrewd backer in the water sector without making a splash about it. Their “CEO1ST” approach has helped portfolio companies flow toward growth through strategic acquisitions—SIGMA made three add-ons before exiting, while Newterra has already completed four under their guidance—suggesting they understand that in water tech, patience and strategic expansion often yield the most compelling returns.
Ember Infrastructure
(New York, United States)
Since launching in 2018, Ember Infrastructure has strategically positioned itself as the go-to growth investor in North America’s water sector, building a concentrated portfolio of mid-market companies—from LID Tech’s stormwater innovations to GWTT’s contamination remediation solutions—without a single exit yet but with substantial dry powder from its new $500M+ second fund. The firm’s hands-on approach involves taking board seats and control positions in established businesses ready to scale, as evidenced by its lead role in H₂O Innovation’s C$395 million take-private transaction, signaling Ember’s commitment to transforming proven water technologies into infrastructure platforms rather than chasing early-stage startups.
Pennybacker Capital
(Austin, USA)
Pennybacker Capital, an Austin-based firm named after the iconic Pennybacker Bridge, splashed into the water sector with its 2023 acquisition of Cambrian Innovation and a hefty $200 million commitment to scale decentralized wastewater treatment solutions. With their infrastructure-focused fund still in early deployment stages and a strategic focus on late-stage ventures addressing industrial water challenges, energy-water nexus, and emerging contaminants, Pennybacker stands ready to lead the next wave of water tech growth capital investments across the United States.
Apax Funds
(London, UK)
Apax Funds has quietly made its mark in the water sector not through flashy technology bets, but by acquiring established infrastructure and service businesses like Contech’s stormwater solutions and American Water’s home services division (now Oncourse). While steering clear of unproven water technologies, the London-based private equity firm has demonstrated a knack for transforming mature water-adjacent companies through aggressive add-on acquisitions and operational improvements – providing a blueprint for entrepreneurs seeking growth capital rather than early-stage venture funding.
DIF Capital Partners
(Schiphol (Amsterdam region), Netherlands)
“Despite its €4.4 billion flagship fund and global infrastructure footprint, DIF Capital Partners has yet to dip beyond traditional water utilities and concession deals like Saur and JW Water into the tech-driven segments of the water industry. For water tech entrepreneurs seeking growth capital, DIF’s deep European and North American infrastructure expertise remains tantalizingly untapped—a Netherlands-based heavyweight that’s built its water portfolio exclusively through large-scale utility plays rather than specialized innovation.”
Methodology & Data Sources
This is the information I gathered using different data sources (Global Water Intelligence, Crunchbase, LinkedIn, my own conversations on and off-record, and my own sweat in researching the web 😅).
It is made of informed updates, press releases and sometimes my best guestimates. So that information is as accurate as I could make it be: it might still have some inconsistencies.
If you spot anything here that should be amended or corrected, you’re very welcome to help me keep it up to date by contacting me via mail!