FOR GENERAL INFORMATION ONLY. Nothing on this site constitutes an offer to sell, a solicitation to buy, or investment advice. WaterFundable PBC is not a registered investment advisor, broker dealer, or placement agent.

Reservoir dam holding water, large-scale water infrastructure
For Investors and Foundations  ·  General Information Only

Water is the asset class
infrastructure investing has been waiting for.

Reservoir infrastructure, American Public Power Association / Unsplash

This is general educational information, not an offer. Nothing on this page is an offer to sell or a solicitation to buy any security, nor investment advice. Any securities offering would be made only by a registered broker-dealer through formal offering documents to qualified institutional buyers under applicable law. WaterFundable PBC is not a registered investment advisor, broker dealer, or placement agent.

The pages below explain how blended capital structures generally work in the water sector, how different forms of capital fit together, and why the timing is favorable. They are intended to inform, not to solicit.

Why Water, Why Now

Three forces are converging on the same asset class.

$1T+
Estimated global investable water infrastructure opportunity
Roland Berger / White & Case, 2025
$30B
Global blue and water-labeled bond issuance to date
Climate Bonds Initiative, 2025
$500M+
Microsoft invested across 75 water and wastewater projects since 2020
Microsoft Environmental Sustainability, June 2026
96%
Of water sector decision-makers plan to maintain or grow water investment in 2025
Roland Berger / White & Case, 2025
Corporate Demand
Microsoft: water positive by 2030

In June 2026 Microsoft reported it replenished more water than it withdrew globally in FY25, an early milestone toward its 2030 water positive goal, having invested $500M+ across 75 water and wastewater projects since 2020. Corporate stewardship capital is real, growing, and looking for verified watershed outcomes.

Market Validation
The blue bond market is forming

From the Seychelles sovereign blue bond to corporate water-labeled issuance, the Climate Bonds Initiative now certifies water and blue bonds against a dedicated standard. Institutional appetite for verified water assets is established and expanding.

Policy Tailwind
A persistent, quantified funding gap

The AWWA puts the U.S. drinking water shortfall at $56.6 billion per year. Public budgets and SRF programs cannot close it alone. Private blended capital is increasingly recognized as a necessary complement, not a replacement.

Water treatment facility infrastructure with pipes and tanksWater treatment facility, Ivan Bandura / Unsplash
The Blended Structure

How concessional and institutional capital work together.

A blue climate bond is issued by a registered broker-dealer to qualified institutional buyers. Separately and beforehand, a yield subsidy pool, funded by foundations and corporate water stewards, is confirmed and held outside the bond structure. That subsidy buys down the effective interest rate the utility pays, without diluting the institutional bondholder.

Senior: Blue Climate Bond
Issued by a registered broker-dealer to qualified institutional buyers. CBI-certified, infrastructure-backed, investment grade.
85%
Yield Subsidy Pool (held separately)
Concessional capital from foundations, corporate water stewards, and biodiversity credit proceeds. Confirmed before issuance. Buys down the effective rate; sits outside the bond structure.
15%
Market Rate to Utility
5–7%
Effective Rate After Subsidy
3–4%

Illustrative only. Actual structures, percentages, and rates vary by portfolio and are described in formal offering documents prepared by the issuing broker-dealer.

Forms of Participation

Different capital, different role, one shared outcome.

The following describes how various capital providers generally participate in blended water finance. It is educational and does not describe any specific available investment.

For Foundations and Impact Investors
  • Program-related investments (PRIs) into the separately managed yield subsidy pool that counts toward distribution requirements
  • Mission-related investments (MRIs) into senior blue climate bond tranches
  • Recoverable grants that buy down utility interest rates, then recycle into the next portfolio
  • Guarantee and first-loss capital that mobilizes multiples of institutional investment
For Corporate Water Stewards
  • Grant capital into the yield subsidy pool, generating verified watershed replenishment in your operating basins
  • Volumetric water benefit accounting aligned to CDP, AWS, and science-based targets for water
  • Co-investment alongside peers in shared priority watersheds
  • Verified, additional, basin-specific outcomes rather than unbundled offsets
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We are assembling a founding cohort of capital partners.

If you are a foundation, impact investor, institutional allocator, or corporate water steward exploring blended water finance, we would welcome a general conversation. No offer is being made and no commitment is being sought.

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