Today (Oct 16th, 2023), being the ‘World Food Day’ and the theme of this year is “Water is life, Water is food. Leave no one behind”, Incofin’s Water Access Acceleration Fund (W2AF) announces its first investment of in Rite Water Solutions (India) Pvt. Ltd. for EUR 7.5 m.
With this, W2AF marches into the next step of success and impacting the world by providing access to safe and affordable drinking water to millions through its investment. The fund’s overarching goal is to bring safe drinking water to 30 million people in water-scarce areas by 2030.
W2AF is an impact-first blended fund that invests in safe drinking water enterprises, primarily in Africa and Asia. W2AF’s investors include Danone, BNP Paribas, U.S. International Development Finance Corporation (DFC), the Danish development finance institution IFU, Norfund, Aqua for All, and the U.S. Agency for International Development.
Incofin is a leading global impact investment firm headquartered in Belgium with EUR 1.4 billion Assets under Management. Incofin has a vintage of 22 years globally and primarily focuses on sectors being agri-food, financial services, water. It has made investment across 65 countries and has 100+ global team members based out of 7 global offices.
Rite Water is India’s rural affordable drinking water and tech backed company providing comprehensive, cost effective and sustainable solutions for safe drinking water to habitations across India where water sources are chemically & biologically contaminated. With this investment in Rite Water, Incofin’s W2AF is steadfast in common ambition to provide 50 million litres of drinking water everyday by 2028 through this investment.