Safar Partners, a seed- to growth-stage venture fund investing in technology companies, has participated in Gradiant's Series C funding round alongside Warburg Pincus and Schlumberger New Energy. Gradiant, an MIT spinout and one of Safar Partners' first portfolio companies, is a leading global end-to-end cleantech water solutions provider and project developer.
In this Series C round, Gradiant raised over $100 million in funding and was oversubscribed from its initial target of $65 million. Safar Partners was joined by Australian pension fund Hostplus in this round, which was led by Warburg Pincus and Schlumberger New Energy. The new investment makes Safar one of the largest shareholders in Gradiant, with Safar principals and LPs having been among the first seed investors in the company.
Gradiant develops and delivers advanced water and wastewater treatment projects around the world. Its focus is the rapidly growing Asia Pacific region for global brand owners and manufacturers with mission-critical needs in cleantech water and sustainable operations.
"We are proud to have been among the first investors in Gradiant and have witnessed incredible growth as the company's solutions are adopted by manufacturers and other users in the textile and pharma sectors, municipalities, oil and gas producers, and desalination providers," said Nader Motamedy, a Managing Partner at Safar Partners. "This is a proof-point of Gradiant's business model, meeting market needs for cleantech water solutions and creating value for customers to achieve sustainable solutions in their operations."
The new investment makes Safar one of the largest shareholders in Gradiant, with Safar principals and LPs having been among the first seed investors in the company
Gradiant offers a broad portfolio of proprietary and patented technologies for end-to-end cleantech solutions that focus on water reuse, resource recovery, brine concentration for minimum and zero liquid discharge, and digital solutions for systems optimization. The company offers flexible delivery models for the design-build, operate-maintain, and financing of projects based on customers' specific needs and situations.
"Alongside Safar Partners, Hostplus congratulates Gradiant as the world increasingly values clean water and the need to mitigate climate change," said Hostplus CEO David Elia. "Gradiant's solutions in water reuse, resource recovery, and advanced wastewater treatment enable manufacturers to reduce their environmental footprint and achieve a circular economy. Today's announcement of our investment in Gradiant, through our valued partnership with Safar Partners, further demonstrates our commitment to companies with strong financial growth opportunities that also make the world better."
Hostplus is an anchor investor in Safar Partners and one of the largest pension funds in Australia - representing more than 1.4 million members in the hospitality sector. The $78 billion fund's investment in Gradiant is part of Hostplus' commitment to a venture capital program through which it supports companies that are committed to enabling positive change worldwide.
"Gradiant enables its customers to achieve sustainability in their water-intensive operations. Water and resource recovery are essential for the world's mission-critical industries ranging from semiconductors and pharmaceuticals to food and beverage and mining," said Gradiant's Co-Founder and CEO, Anurag Bajpayee. "Safar Partners believed in our team and our technology from the early days, and we have enjoyed their support and now the participation of Hostplus. Safar brings a wealth of experience in growing cleantech and infrastructure companies and is helping further our mission to solve the world's most important water challenges."