Emerald Technology Ventures Raises €100M for Global Water Fund II

Why It Matters

Mobilising €100 million signals strong investor confidence in water‑tech as a climate‑critical sector, positioning Emerald to scale innovations that address global water scarcity and rising regulatory pressure.

Key Takeaways

• Fund II reached €100 million, targeting €150‑180 million total
• Backers include Temasek, Grundfos Foundation, Veralto, Ecolab
• Partners with DIC create €52 million AI‑water platform
• Focus areas: infrastructure, treatment, reuse, digital monitoring
• Emerald manages >€1 billion, proven exits to SUEZ, Xylem

Pulse Analysis

The water sector is witnessing an unprecedented surge of venture capital as governments and corporations grapple with mounting scarcity and stricter regulations. In 2026 alone, more than €200 million has been earmarked for dedicated WaterTech funds, reflecting a shift from traditional infrastructure spending to technology‑driven solutions. Emerald Technology Ventures, a Zurich‑based specialist with two decades of sector experience, has become a focal point of this trend. By reaching the €100 million mark for its Global Water Fund II, the firm signals that investors are willing to back early‑stage innovations that can scale globally.

Fund II draws capital from a diverse consortium that includes sovereign investor Temasek, the Grundfos Foundation, industrial giants such as Veralto and Ecolab, and niche players like SKion Water and Oxy Technology Ventures. The recent €52 million joint platform with Japan’s DIC Corporation adds a physical‑AI dimension, enabling Emerald to co‑invest in startups that blend sensors, data analytics, and automation for water‑system resilience. Targeting a final size of €150‑180 million, the fund will allocate resources across the entire water value chain— from smart metering and leak detection to advanced membrane treatment and contaminant removal.

Beyond financial returns, the fund’s strategic intent aligns with broader climate objectives. Accelerating water‑efficiency technologies helps industries lower emissions, while improved monitoring reduces the risk of drought‑related disruptions. Emerald’s track record of exits to SUEZ, Xylem and BASF demonstrates that corporate partnerships can translate innovative pilots into commercial scale. As water‑related ESG metrics become mandatory for investors, the availability of dedicated capital is likely to intensify, prompting more startups to pursue data‑centric and circular‑economy models. In this environment, Emerald’s Global Water Fund II could become a catalyst for the next generation of climate‑smart water solutions.

Deal Summary

Zurich-based VC Emerald Technology Ventures announced that its Global Water Fund II has reached €100 million in commitments, with backing from Temasek, Grundfos Foundation, Veralto Corporation, Ecolab, SKion Water and Oxy Technology Ventures. The fund, targeting €150‑180 million, will invest in WaterTech startups across the water value chain to accelerate climate‑resilient solutions.