Behind the fund: After first big exit, Emerald brings family offices to €150m water tech vehicle
14 Sept 2026
06:00
For six years, Emerald Technology Ventures' water fund was backed by corporates and a sovereign investor, but now family offices are coming on board as well.
Fresh from its first exit, the Zurich-based firm is currently sitting at €115m for its second water tech fund, with another €10m in the pipeline from a cohort of families.
We caught up with partner Helge Daebel to discuss:
→ Where the fund stands now and how fundraising is going
→ How it’s first exit returned 70% IRR
→ The four deals now in due diligence – and the one startup that got away
Fresh from its first exit, the Zurich-based firm is currently sitting at €115m for its second water tech fund, with another €10m in the pipeline from a cohort of families.
We caught up with partner Helge Daebel to discuss:
→ Where the fund stands now and how fundraising is going
→ How it’s first exit returned 70% IRR
→ The four deals now in due diligence – and the one startup that got away