kopa ventures Why water? Water isn’t exactly a mainstream focus for venture capital, as the market is highly specific, lighthouse cases are rare and many funds lack deep experience in the space. For us, that’s precisely what makes it interesting. We see multiple areas where water management is becoming both a necessity and a business opportunity. While the sector hasn’t yet produced many unicorns, we believe that’s a matter of timing. As awareness and urgency grow, we expect to see more breakout companies. In the meantime, we already observe solid exit potential through strategic acquisitions and growing interest from private equity.kopa ventures is an established climate tech VC with a focus on European early-stage start-ups in the fields of energy, mobility, nature and carbon tech. Our team combines exceptional domain expertise, entrepreneurial acumen and access to an extensive network to help ventures drive their impact. Benjamin Wochner Principal, kopa ventures We see an opportunity to uncover the raw diamonds in a sector that’s both underexplored and absolutely essential. Water is the most critical resource on the planet — and we believe it deserves more attention from the VC world. Water in kopa’s portfolio At kopa ventures, we back teams solving problems that are both economically viable and deeply impactful for the planet. Our roots are in the energy sector, where we’ve built strong expertise and networks – and we see many parallels between energy and water in terms of risk, regulation and opportunity. We’re also applying that experience to the water space, while actively building up domain-specific knowledge and partnerships to identify the most promising opportunities. Advice for first-time investors Start by talking to experts and specialized investors – early and often. The water space has its own logic, shaped by regulation, ethics and a unique stakeholder landscape. A strong network is always important, but here it’s critical. Pay close attention to go-to-market strategies during due diligence, as even the best solutions can fail if founders don’t understand how to navigate market access in this space. Investing in Water: Aligning Investment Strategies with Water Innovation 26

Investing in Water Aligning Investment Strategies with Water Innovation 2025