Zurich-based venture capital firm Emerald Technology Ventures has raised €60 million (USD 69 million) at the first close of its Global Water Fund II, a new investment vehicle focused on early- and growth-stage startups tackling some of the world’s most urgent water challenges. The fund’s launch underscores the growing intersection of climate resilience, infrastructure modernization, and digital innovation in global water management.

Building on a Proven Platform

Emerald’s latest fund follows the success of its inaugural Global Water Fund, which closed in 2020 with $100 million from leading investors including Temasek, Microsoft, and Ecolab. For Global Water Fund II, Emerald is targeting a total between €150 million and €180 million, positioning it among the largest dedicated venture vehicles for water-related technologies worldwide. The fund will back innovations spanning the full water value chain from treatment and reuse to data analytics, automation, and contaminant management. The strategy reflects a broadening view of water not just as a resource, but as a critical enabler of economic and technological resilience.

“As climate and infrastructure shocks intensify, resilience in our water systems is essential,” said Dr. Helge Daebel, Partner at Emerald. “From smarter monitoring to advanced treatment, digital and AI-driven technologies are unlocking new efficiencies and insights. Yet, they also remind us of water’s critical role in enabling innovation itself from cooling the very data centers that power these tools to sustaining life and industry alike.”

Strategic Backing from Global Water Leaders

The first close of the fund features anchor commitments from Veralto Corporation, a global water analytics and treatment leader, and Ecolab, a top provider of water, hygiene, and infection prevention solutions. Additional backing came from SKion Water and Oxy Technology Ventures, signaling strong industry alignment with Emerald’s investment thesis.

“Safeguarding one of the world’s most vital resources requires both collaboration and innovation that is sustainable,” said Melissa Aquino, Senior Vice President and Chief Segment Officer of Water Quality at Veralto. “Our anchor investment reflects our deep commitment to accelerating breakthrough technologies that address water scarcity, treatment, and reuse. By partnering across sectors, we are helping build a future where water sustains people, communities, and the planet we share.”

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Investing in Resilient Water Infrastructure

Emerald’s Global Water Fund II will prioritize startups developing scalable, data-enabled, and circular solutions that improve water efficiency, enhance treatment capacity, and reduce pollution. This includes technologies in:

Smart infrastructure and business resilience, including digital twins and predictive analytics for utilities and industrial users.
Advanced treatment and reuse systems, enabling closed-loop industrial processes and sustainable agriculture.
Automation and AI-driven monitoring, improving detection of leaks, contamination, and inefficiencies.
Solutions for emerging contaminants, addressing challenges such as PFAS (“forever chemicals”) and microplastics.

The approach positions Emerald at the forefront of climate adaptation finance, bridging the gap between innovation and implementation in a sector often underfunded despite its critical global importance.

Bridging Innovation and Impact

Water systems worldwide face compounding stress from population growth, industrial demand, and climate volatility. According to the UN, over 2 billion people already experience high water stress, and infrastructure gaps are projected to require trillions in investment by 2030. By connecting capital with technology, Emerald aims to accelerate the commercialization of next-generation water solutions while generating financial returns through measurable environmental and social impact. The fund’s portfolio will focus on companies capable of delivering scalable outcomes in decarbonization, efficiency, and resilience, both in developed and emerging markets.

“This is more than a venture strategy, it’s an investment in systemic resilience,” said Daebel. “The health of our water systems defines the health of our economies and ecosystems.”

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A Catalyst for the Global Water Transition

With this new fund, Emerald is signaling that water is the next frontier in climate technology investment. As industries and governments race to adapt to intensifying droughts, floods, and contamination crises, the convergence of digital tools, circular design, and industrial sustainability is creating a wave of new opportunities. By mobilizing capital at the intersection of climate adaptation and innovation, Emerald’s Global Water Fund II aims to help build the infrastructure for a more resilient and equitable water future one where technology, finance, and stewardship flow in the same direction.

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