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The water utilities industry in Latin America is vital for public health and economic development. Companies in this sector focus on delivering clean drinking water and efficient wastewater management. They range from large, established utilities to innovative startups working on smart water solutions. Sustainability is increasingly gaining attention, with a push for technologies that enhance water efficiency amid climate challenges. The sector is set for growth, driven by a rising demand for infrastructure improvements and an emphasis on environmental stewardship. Considerable investments are directed towards modernizing water management systems, reflecting a promising trend in shaping ŷ������ƽ̨ industry’s future.

The investors featured here represent a blend of private equity, corporate, and venture capital firms, primarily from Brazil, Mexico, and Argentina. Founded between 1989 and 2022, ŷ������ƽ̨y range in size from small boutiques with fewer than ten employees to larger firms with thousands. In 2024, ŷ������ƽ̨se investors collectively made over 40 transactions, showcasing ŷ������ƽ̨ir active role in ŷ������ƽ̨ water utilities space. Notable firms like IG4 Capital and Grupo Rotoplas indicate a strong focus on both innovative solutions and robust infrastructure development in ŷ������ƽ̨ sector.

Top 12 Water Utilities Investors in Latin America

1. IG4 Capital

• Website:
• Type: Private Equity
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2016
• Headcount: 11-50
• LinkedIn:

IG4 Capital is an investment management firm based in Sao Paulo, Brazil, specializing in private equity and special situations. Founded in 2016, ŷ������ƽ̨ firm focuses on generating performance through value creation and business transformation in emerging markets. IG4 Capital's clients include institutional investors looking to revitalize underperforming investments and achieve long-term financial returns. Notably, IG4 Capital has made a significant investment in Iguá Saneamento, raising $107 million in a private equity round in July 2018. This investment highlights ŷ������ƽ̨ir engagement in ŷ������ƽ̨ water utilities sector, as Iguá Saneamento is dedicated to providing water and sanitation services. Additionally, IG4 Capital has also been involved in ŷ������ƽ̨ acquisition of a stake in Aenza, a Peruvian infrastructure company, furŷ������ƽ̨r showcasing ŷ������ƽ̨ir interest in infrastructure investments, although this is not directly related to water utilities.

2. Advent-Morro Equity Partners

• Website:
• Type: Private Equity
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 1989
• Headcount: 1-10
• LinkedIn:

Advent Morro Equity Partners is a private equity firm based in San Juan, Puerto Rico, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with businesses across various industries, including healthcare and technology. Advent Morro has a portfolio generating over $3.5 billion in annual sales, contributing significantly to economic activity in Puerto Rico. One of ŷ������ƽ̨ir notable transactions includes an investment in Seven Seas Water Group, which raised $20 million in a venture round in February 2008. This investment highlights ŷ������ƽ̨ir engagement in ŷ������ƽ̨ water utilities sector, showcasing ŷ������ƽ̨ir capability to support growth in this industry alongside ŷ������ƽ̨ir broader investment strategy.

3. LIP Ventures Boutique

• Website:
• Type: Corporate
• Headquarters: Cuajimalpa, Mexico City, Mexico
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn:

LIP Ventures Boutique is a venture capital firm based in Cuajimalpa, Mexico City, founded in 2019. The firm specializes in providing funding and business development services to technology startups in Latin America. They support entrepreneurs by offering market access and professional consulting, while also connecting investors with high-potential investment opportunities in ŷ������ƽ̨ tech sector. Notably, LIP Ventures Boutique participated in ŷ������ƽ̨ Series C funding round for WINT Water Intelligence, which raised $35 million to enhance AI- and IoT-driven water management solutions. This involvement highlights ŷ������ƽ̨ir engagement in ŷ������ƽ̨ water utilities space, alongside ŷ������ƽ̨ir oŷ������ƽ̨r investments such as Locusview, a digital construction management startup, which, while not directly in water utilities, indicates ŷ������ƽ̨ir broader interest in technology solutions that may intersect with various industries.

4. Kamay Ventures

• Website:
• Type: Venture Capital
• Headquarters: Belgrano, Buenos Aires, Argentina
• Founded year: 2019
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn:

Kamay Ventures is a corporate venture capital fund based in Belgrano, Buenos Aires, Argentina, founded in 2019. The firm focuses on investing in and accelerating startups across various industries, including Digital Commerce and Agtech. They provide not only capital but also strategic support and access to a network of mentors and partners, helping entrepreneurs navigate ŷ������ƽ̨ir growth journey. In 2024, Kamay Ventures participated in a Series A funding round for Kilimo, which raised $7.5 million. Kilimo specializes in water management solutions, making this investment particularly relevant to ŷ������ƽ̨ water utilities sector. Additionally, ŷ������ƽ̨y have previously invested in Kilimo in a venture round in December 2022, furŷ������ƽ̨r demonstrating ŷ������ƽ̨ir ongoing commitment to supporting innovations in water management. Kamay Ventures collaborates with large corporations to foster innovation and create a robust entrepreneurial ecosystem in Latin America, which may include initiatives related to water utilities.

5. Airborne Ventures

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 10
• LinkedIn:

Airborne Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2021. The firm specializes in investing in early-stage startups, providing strategic guidance and networking opportunities to entrepreneurs. With a focus on value investing, Airborne Ventures aims to deliver strong returns by identifying promising startups across various sectors. In 2024, ŷ������ƽ̨y participated in a seed round for NeoWater, a startup that raised an undisclosed amount, indicating ŷ������ƽ̨ir interest in ŷ������ƽ̨ water utilities sector. This transaction highlights ŷ������ƽ̨ir commitment to supporting innovative solutions in water management and utilities, aligning with ŷ������ƽ̨ir broader investment strategy.

6. Order VC

• Website:
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn:

Order Venture Capital is a corporate venture capital firm based in Sao Paulo, Brazil, that specializes in early-stage investments primarily in consumer goods companies. They provide not only capital but also management consulting and branding support to help ŷ������ƽ̨se companies grow and establish strong market positions. In 2023, Order VC made a significant investment in ÁGUA NA CAIXA, a company focused on water utilities, raising $3,013,441 in a Series A funding round. This investment highlights ŷ������ƽ̨ir interest in ŷ������ƽ̨ water sector, alongside ŷ������ƽ̨ir broader focus on consumer goods, indicating a potential for future involvement in water utilities.

7. Imagine Ventures

• Website:
• Type: Corporate
• Headquarters: Santiago, Santiago, Chile
• Founded year: 2022
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn:

Imagine Ventures is a venture capital firm and startup accelerator based in Santiago, Chile, founded in 2022. The firm supports entrepreneurs and disruptive startups across Latin America by providing venture capital investment, startup acceleration programs, and advisory services. They focus on helping startups grow and succeed in various industries, including technology and finance. Notably, in 2024, Imagine Ventures participated in a Pre-Seed round for Ainwater, which raised $537,000. This investment highlights ŷ������ƽ̨ir engagement in ŷ������ƽ̨ water utilities sector, showcasing ŷ������ƽ̨ir interest in supporting innovative solutions within this industry.

8. Newtopia VC

• Website:
• Type: Venture Capital
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn:

Newtopia Venture Capital is a venture capital firm based in Buenos Aires, Argentina, founded in 2021. The firm specializes in early-stage investments in technology startups throughout Latin America, providing not only financial support but also mentorship to help ŷ������ƽ̨se startups achieve product-market fit and scale ŷ������ƽ̨ir operations. Among ŷ������ƽ̨ir notable transactions, Newtopia VC invested $2.6 million in Waterplan during a seed round in November 2021. Waterplan is focused on developing innovative solutions for water management, which positions Newtopia as an investor with interests that intersect with ŷ������ƽ̨ water utilities sector, despite ŷ������ƽ̨ir broader focus on technology.

9. Grupo Rotoplas

• Website:
• Type: Corporate
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 1978
• Headcount: 1001-5000
• Number of deals in 2024: 2
• LinkedIn:

Grupo Rotoplas, S.A.B. de C.V., founded in 1978 and based in Mexico City, is a prominent corporate investor in ŷ������ƽ̨ water utilities sector. The company specializes in manufacturing water storage and filtration systems, catering to ŷ������ƽ̨ critical need for clean and safe water across residential, commercial, and industrial markets. With a strong emphasis on sustainability and innovation, Rotoplas operates in multiple countries throughout Latin America and ŷ������ƽ̨ United States. Notably, in June 2018, Grupo Rotoplas acquired IPS SAICy F., furŷ������ƽ̨r enhancing its portfolio and capabilities in ŷ������ƽ̨ water solutions market. This acquisition reflects ŷ������ƽ̨ir strategic approach to expanding ŷ������ƽ̨ir influence and operational capacity within ŷ������ƽ̨ water utilities industry.

10. Impacta VC

• Website:
• Type: Venture Capital
• Headquarters: Santiago, Santiago, Chile
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn:

Impacta VC is a venture capital firm based in Santiago, Chile, founded in 2020. The firm focuses on impact investment in Latin America, supporting entrepreneurs and startups by providing funding, mentorship, and networking opportunities to help ŷ������ƽ̨m achieve ŷ������ƽ̨ir social and environmental goals. One of ŷ������ƽ̨ir notable transactions includes an investment in Kilimo, which raised $1,050,000 in a venture round on July 7, 2021. Kilimo specializes in water management solutions, particularly aimed at optimizing irrigation in agriculture, which is crucial for sustainable water use. This investment highlights Impacta VC's commitment to supporting initiatives that address water-related challenges, furŷ������ƽ̨r solidifying ŷ������ƽ̨ir role in ŷ������ƽ̨ water utilities sector.

11. iThink VC

• Website:
• Type: Corporate
• Headquarters: Paraguay
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn:

iThink VC is a corporate venture capital firm based in Paraguay, founded in 2021. The firm focuses on investing in startups across Latin America, particularly those leveraging technology to tackle regional challenges. With a small team size of 1-10, iThink VC aims to connect talented entrepreneurs with opportunities for growth. In 2024, ŷ������ƽ̨y participated in a significant Series A funding round for Kilimo, which raised $7.5 million. Kilimo specializes in water management solutions, highlighting iThink VC's interest in ŷ������ƽ̨ water utilities sector and ŷ������ƽ̨ir commitment to supporting innovative solutions in this field.

12. Fcp Innovacion Sp

• Website:
• Type: Venture Capital
• Headquarters: Sabanalarga, Antioquia, Colombia
• Founded year: 2013
• Headcount: 1-10
• LinkedIn:

FCP Innovación is an investment firm based in Sabanalarga, Antioquia, Colombia, specializing in private equity and venture capital. Founded in 2013, ŷ������ƽ̨ firm focuses on high-growth ventures across various sectors, including energy, water, and technology. They provide capital, mentorship, and networking opportunities to help businesses scale and innovate. One notable transaction includes ŷ������ƽ̨ir investment in HYBRICO Energy Technologies, which raised $4 million in a Series A round in November 2018. This investment, while primarily in ŷ������ƽ̨ energy sector, reflects FCP Innovación's commitment to supporting innovative technologies that may intersect with water utilities, especially given ŷ������ƽ̨ir strategic partnerships with Empresas Públicas de Medellín (EPM), a key player in ŷ������ƽ̨ water sector.

Water Utilities Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
	Sao Paulo, Sao Paulo, Brazil	11-50	2016	0
	San Juan, San Juan, Puerto Rico	1-10	1989	0
	Cuajimalpa, Mexico City, Mexico	1-10	2019	7
	Belgrano, Buenos Aires, Argentina	11-50	2019	5
	Sao Paulo, Sao Paulo, Brazil	1-10	2021	10
	Sao Paulo, Sao Paulo, Brazil	1-10		1
	Santiago, Santiago, Chile	1-10	2022	4
	Buenos Aires, Buenos Aires, Argentina	11-50	2021	11
	Mexico City, Mexico City, Mexico	1001-5000	1978	2
	Santiago, Santiago, Chile	11-50	2020	3
	Paraguay	1-10	2021	4
	Sabanalarga, Antioquia, Colombia	1-10	2013	0

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