Investor Lists

PE firms backing Water

Updated 7 November 2026

PE firms we have observed in a water round in the last two years.

See all 14 →The top 14
14investors on the list+1 this week
50cheques in 12 months+22% against the market
$55Mmedian round they joined+588% against the market median
79%wrote a cheque in 12 months
36%have led a round

The Top 14

Ordered by cheques observed, never by anything anyone paid for

Deploying now (11)

  1. 1Catalyst FundDeploying nowGrowth equity · United States96$3Mmedian roundOct 2026last seen
  2. 2National Bank of CanadaDeploying nowPrivate equity · Canada77$74Mmedian roundSept 2026last seen
  3. 3GEF Capital PartnersDeploying nowPrivate equity · United States7$66Mmedian roundAug 2026last seen
  4. 4Capricorn Industrial Biotech FundDeploying nowGrowth equity2$3.5Mmedian roundApr 2026last seen
  5. 538sthDeploying nowPrivate equity · Australia1-median roundSept 2026last seen
  6. 6Daikin AmericaDeploying nowGrowth equity · United States1$55Mmedian roundAug 2026last seen
  7. 7Nord Asset ManagementDeploying nowGrowth equity1$55Mmedian roundAug 2026last seen
  8. 8Saint Paul & Minnesota FoundationDeploying nowGrowth equity · United States1$55Mmedian roundAug 2026last seen
  9. 9SistaActquietGrowth equity · Germany1-median roundAug 2025last seen
  10. 10VeraltoDeploying nowGrowth equity · United States1$55Mmedian roundAug 2026last seen
  11. 11European Social Innovation and Impact FundquietGrowth equity1-median roundAug 2025last seen
  12. 12KSK-WagniskapitalquietGrowth equity1-median roundAug 2025last seen
  13. 13Meat & Livestock Australia's Cultiv8 Livestock Technology FundDeploying nowGrowth equity1$22Mmedian roundAug 2026last seen
  14. 14Treehouse Family Capital LLCDeploying nowGrowth equity1$55Mmedian roundAug 2026last seen

Quick answers about PE firms backing Water

Who are the most active PE firms backing Water?

By cheques observed, the most active are Catalyst Fund, National Bank of Canada, GEF Capital Partners, Capricorn Industrial Biotech Fund and 38sth.

How many PE firms backing Water are there?

14 are on record. 79% made an investment in the last 12 months and 36% have led a round.

Which stages do PE firms backing Water back?

Of the rounds with a named stage in the last 12 months, mostly Debt (54%) and Series B (14%).

How big are the rounds PE firms backing Water join?

The typical (median) round among the leading investors here is $55M.

Which sectors do PE firms backing Water back most?

In the last 12 months, mostly Energy, Water and AI.

Which PE firms backing Water lead the most rounds?

GEF Capital Partners (7 led), Catalyst Fund (2 led) and National Bank of Canada (1 led).

Where are PE firms backing Water based?

Among the most active, most are based in the United States (5), Canada (1) and Australia (1).

What have PE firms backing Water invested in recently?

Recent rounds include Noor Nation (Seed, Oct 2026, with Catalyst Fund), Medikea (Pre-seed, Oct 2026, with Catalyst Fund) and New Plumbing Solutions Group (Other, Sept 2026, with 38sth).

Built from the rounds we watched, refreshed every night. How we count · Report a correction