Deal Summary
Incofin Investment Managers (Incofin), through its Water Access Acceleration Fund (W2AF), has committed €3 million ($3.2 million) to SPOUTS International (SPOUTS), a Ugandan social enterprise dedicated to improving access to clean water across Africa. Operating primarily in Uganda and Rwanda, SPOUTS designs, manufactures, and distributes ceramic water filters under the “Purifaaya” brand and also offers sustainable cookstoves. This investment will enable SPOUTS to scale its operations across Africa, increasing access to safe drinking water for underserved communities. The capital will also bolster SPOUTS’ carbon credit program, which aligns with global sustainability goals by mitigating carbon emissions. This marks Incofin’s second investment through W2AF, following a €7.5 million ($7.9 million) investment in Rite Water in October 2023. The fund, which secured €36 million ($38.2 million) at its first close, aims to raise a total of €70 million ($74.2 million).
Terms
- Fund Manager: Incofin Investment Managers
- Fund: Water Access Acceleration Fund
- Target: SPOUTS International
- Deal Type: Equity Investment
- Investment Amount: $3.2 million
Deal Rationale
The investment aligns with Incofin’s strategy to support local entrepreneurs in Africa and Asia who provide affordable, safe drinking water to underserved populations. This deal advances W2AF’s mission to deliver 20 billion litres of safe water to 30 million people globally, focusing on emerging markets.
SPOUTS has demonstrated strong growth since its inception in 2011. Between 2016
About the Fund Manager
Incofin Investment Managers is a global impact investment firm focused on financial inclusion, agribusiness, and water access solutions across emerging markets. Founded in Belgium in 2001, the firm has established a strong presence, managing $1.2 billion in assets and overseeing a total investment value of $2.7 billion across more than 65 countries. Incofin’s approach combines equity and debt financing, with debt being the dominant allocation. Each investment is guided by a rigorous sustainability risk assessment, integrating ESG factors to evaluate potential risks and opportunities. In 2023, Incofin launched the Water Access Acceleration Fund (W2AF), a blended impact fund aimed at addressing the urgent need for clean water in underserved communities across Africa and Asia. The committed capital is sourced from diverse private and public investors, including Danone, BNP Paribas, the U.S. International Development Finance Corporation (DFC), Norfund, the Danish IFU, and Aqua for All. USAID provided catalytic funding to support a first-loss tranche.
