Matt Damon’s water charity sets up impact investment fund, seeks portfolio manager

Water.org, the US-based nonprofit developmental aid organisation co-founded by film star Matt Damon, is preparing to raise a $50m impact investment fund targeting projects in Asia.

The organisation launched a new social impact business unit last year called WaterCapital, which raises impact investment for water supply and sanitation projects.

WaterCapital is readying itself to raise some $50m to invest in South and Southeast Asia. It has already raised a $10m fund focusing on projects in India.

Investments in the new fund will initially include senior debt and partial loan guarantees, water.org said, adding that this may be expanded in the future.

WaterCapital is recruiting a portfolio manager, reporting to its Director of Portfolio Development. The role will be based in either Kansas City or New York/San Francisco.

“The Portfolio Manager’s main responsibilities are the development and monitoring of a strong investment portfolio that will enable WaterCapital to reach long-term impact investing goals,” a job ad states.

The candidate will be responsible for building the pipeline of enterprises that meet the investment criteriaof “current and future funds” administered by WaterCapital.

Pipeline enterprises will include financial institutions, privately owned utilities, cooperatives, SMEs, and other water and sanitation-related enterprises.

“Portfolio Manager position will evolve quickly”

“WaterCapital is in a start-up phase, and the Portfolio Manager position will evolve quickly as the team grows and priorities change,” it says, adding the candidate must be “highly adaptable to change and willing to play a variety of roles”.
Water.org itself has a principal fund, The New Ventures Fund, through which it finances pilot initiatives that seek to address water crises.

The Kansas City-based organisation, created by the merger of Damon’s H2O Africa and Gary White’s WaterPartners in 2009, has alliances with the charitable foundations of companies such as Pepsico, IKEA and Caterpillar, Bank of America and Swiss Re.