Background
• The Aqua Vision Fund I is a unique Private Equity Fund aiming to raise USD 100m for investment in a diversified
portfolio of engineering and technology companies within the water sector that are commercializing cutting edge
technologies and water rights
• The Fund will be managed by veteran private equity and water investment specialist, Roman E. Kainz together
with a team of industry specialists in Switzerland and London
• The Fund will focus on expansion financing with possible investment at the start-up stage, where unique applica-
tions and strong synergies exist, and will endeavor to find new distribution markets or innovative products, enhanc-
ing value creation across the portfolio
• The Fund will invest in membrane filtration, membrane bio-reactors, desalination, biological treatment, disinfection
and sludge treatment technologies and companies, primarily targeting Europe and North America, but not excluding
Asia, Latin America and the CIS regions
• The Fund will build on the synergies and expertise of the partners via their deep industry and financial experience
in water and alternative investments
Key points
• The Fund targets an IRR of 25% over a 7 year term
• The Fund is managed by former CEO’s and industry specialists from the water sector with a long track record
• The Fund’s investment focus is on expansion financing based upon a credible business model & development plan
• The Fund is unique for its BUY and BUILD strategy: active management support and synergy creation
• Strong pipeline
Water
Investment rationale and key drivers for the sector
STR
ESS
• Global water market revenues are estimated to be $360 billion
STR
ESS
annually with a growth rate of 5%
• Tight supply and demand balance
• Population and demographic evolution (i.e. growing middle class,
changing diets, urbanization)
• Industrial component of water use is quickly expanding in
developing countries
Energy STRESS Food
• Regulations getting tougher
• Estimates of required spending for water and sewer systems vary from $0.5 to $1 trillion over the next 20 years
• By 2050, untreated wastewater could contaminate one-third of global annual renewable freshwater supplies - cur-
rently an estimated 2bl tons of waste water (fertilizer run off, sewage and industrial waste) is discharged daily
• The UN reports that 3 liters of water are now used to produce 1 liter of bottled water, in the US alone 17m barrels
of oil are used to produce bottled water for US markets annually
Fund main objective is to find technology leaders and help them reach full potential utilizing our
insightful strategic vision and industry connections
Fund investment approach
• The Fund´s investment focus is on expansion financing
• Post acquisition integration is the main part of the investment process: hands-on management, team enhancement,
strategic advice, control through BoD or organization of follow-up financing
• Each team has clear responsibilities: deal sourcing, due diligence, investment committee & company development
A UNIQUE investment opportunity: The Aqua Vision Fund I
• THE ASSET CLASS: WATER is probably the most undervalued and underestimated raw material on our planet
• THE MANAGEMENT TEAM: a trio of experts. Specialist water sector investor Roman E. Kainz and his core
management team will be supported by: I2BF Venture Capital (London), an international clean technology asset
management group and GAIA Capital Advisors (Geneva), an international investment boutique with focus on
natural resources and agriculture.
• INVESTMENT APPROACH is unique BUY and BUILD Strategy. We advise and coach the management, find
new distribution markets for innovative products and develop and create synergies between the companies in the
portfolio, so that each investment can benefit from the strength of the others
• Our goal is to transform each investment into an exceptional performer within the water business community
• THE REMUNERATION CONCEPT: The management team waives, from the very beginning, any salary from
the Fund. The annual management fee on committed capital will be mainly used to pay third party support and
out-of-pocket expenses stemming from a stringent diligence process, and for supporting and controlling a hand
selected portfolio of participations
• The Management Team commits itself with initial seed capital
Management Committee Key Figures
Roman E. Kainz Chairman Fund domicile Cayman Islands
Ilya Golubovich Managing Director Management company Aqua Capital Management
Alexander Karpov Managing Director Target size USD 100m
USD 3m from Aqua
Investment Committee Seed capital
Capital Management
Karl M. Millauer Investment Manager Management fee 2%
Fees
Performance fee 20%
Oliver Schnorr Investment Manager 10% over 100% fund
Bonus performance
performance
Blair M. Shilleto Investment Manager
Hurdle rate 8%
Alexey Belyakov Head of Research
Term 7 years
Minimum subscription 1,000,000 (USD)
Target IRR 25%
Initial closing 01 October, 2010
Key advantages of the management team
• Excellent knowledge of water treatment markets with rare access to new deal flow
• Hands on executive experience in top companies
• Extensive track record of business development
• Broad network inside industry, access to strategic investors
• Strong research and technical capacity
• Venture capital and private equity experience
• Investment Managers are successful entrepreneurs
• The Management Team creates additional cross-fertilizing, co-investment opportunities
Key contacts
Alexander Karpov Ilya Golubovich
tel: +41 22 317 7820 fax: +41 22 317 7821 tel: +44 207 432 4516 fax: +44 207 432 4517
akarpov@aquacm.com ~ www.aquacm.com igolubovich@aquacm.com ~ www.aquacm.com
