Waterfund committed 50 million dollars of capital to the OurCrowd managed portfolio, with an initial investment completed in Plenty, a vertical farming leader.
FREMONT, CA: OurCrowd, a global venture investment platform and Waterfund, a leading water investment and trading firm announced that they would collaborate to create a dedicated investment portfolio of 15 leading water and agricultural technology companies. Waterfund committed 50 million dollars of capital to the OurCrowd managed portfolio, with an initial investment completed in Plenty, a vertical farming leader.
Scott Rickards, CEO, Waterfund, said, “We are working to issue Blue Bonds that can be both climate bonds-certified and backed by sovereign or sub-sovereign borrowers. This new financial tool and others are being designed to enable water projects in the Middle East to acquire leading technologies to address water scarcity in a fundamentally new way.”
The firms also announced that they are collaborating on Aquantos, an innovative water-focused platform. Aquantos will be a financial product platform that will be the first to issue Blue Bonds and other water investment products.
Sustainable investing assets now total more than 30 trillion dollars globally, according to Morgan Stanley Institute for Sustainable Investing, up 34 percent in the last two years. One out of every four dollars in the United States (12 trillion dollars) is spent sustainably. “In 2016, the Paris Agreement heightened interest in green bonds; in the years since, we have seen a spike in companies, municipalities, sovereigns and banks issuing green bonds. We expect that demand for next generation water-oriented bond products will see similar growth,” Rickards said.
“The lack of private capital has held back the huge growth potential of the water innovation sector. Waterfund’s partnership with OurCrowd is designed to solve those challenges by offering equity investments in innovative tech companies and debt financing to carefully selected projects and water-saving technologies. Waterfund is constantly seeking innovations to attract private capital to water,” Rickards added.
Jon Medved, Founder & CEO, OurCrowd, said: The Abraham Accords present a huge opportunity to bring new water and agricultural technology to the water scarcity challenges of the entire Middle East. Alongside Waterfund, it is our mission to invest in and help build game-changing technology companies. We are excited to be working together with Waterfund to drive more private capital to address the critical challenges of water.”