In this issue:
Early Financial Performance
ERC Portfolio News
Angel Portfolio Doubles in Value
When I started angel investing in water technology, I developed a thesis honed by my career at the forefront of water conservation and innovation. My lessons from river restoration, water rights trading, and digital analytics for utilities informed my investment thesis to focus on three areas of growth and impact: digital water, decentralized water, and decarbonizing water. During 2021-2022, I assembled an angel investment portfolio of twelve amazing companies and supported the teams along the way. Since then, 6 of 11 companies have raised additional capital at significant increases in valuation. In turn, the value of the angel portfolio as a whole is up 2x since those original investments. Here’s a brief snapshot of these six innovators, and how this angel portfolio has doubled the multiple on invested capital (MOIC).
Additional information about these investments and all angel investments made by Peter Yolles is available upon request. Valuation multiples are reported on a gross basis and have not been verified or confirmed by an independent third party.
Beyond financial performance, 6 of 11 angel portfolio companies include diverse founders from under-represented communities including BIPOC and women founders.
The angel portfolio is designed to maximize performance by allocating capital across different industry verticals, geography, team diversity, and technology types. Industries they serve include agriculture (3), industrial (3), utilities (2), mining (1), consumer goods (1), and public agencies (1).
The companies are developing bespoke water-related impact metrics, and which usually roll up into one of four impact areas: water efficiency, cleaner water, flood resiliency, and access to clean water. I'm proud of these founders for working together to develop, track and report on these impact metrics.
It has been remarkable to witness the evolution of these founders and their companies. Echo River Capital is just getting started and I’m excited to work with these passionate, mission-driven water people every day.
A man stands on the dried-up artificial Broc lake in Le Broc near Nice as the Alpes-Maritimes department faces a severe drought, France, October 28, 2022. REUTERS/Eric Gaillard
I participated in a podcast hosted by economist David Zetland.
ERC Portfolio News
Hohonu presented a video case study of its North Carolina Tide Gauge Network.
Portfolio Companies that are Fundraising
This month, let’s hear directly from an indigenous female environmental leader at The Nature Conservancy. In the latest TNC magazine, Andrea Akall'eq Burgess, Yup’ik Inuit, describes how indigenous women can lead with balance and relationship. Here’s the opening Q&A response.
You are TNC’s Indigenous Peoples & local communities director, but how does your personal background inform your perspective on the role of women in conservation?
I’m Yup’ik Inuit, from southwestern Alaska. In our culture, women have an important role in terms of the continuity of our culture, our ways of knowing, and our connection to the lands and waters. We see the world’s plants, animals and other beings as relatives—not as resources. And the teachings for how to be in right relation and to be good relatives come from our mothers and grandmothers. Women play an important role, even a sacred role.
I’m always interested in meeting and learning from your friends who are innovative and savvy investors in the climate tech space.
Please send any questions or comments to firstname.lastname@example.org and (415) 203-0432. Here's to a future of water abundance.
Investor Presentation: If you are an Accredited Investor looking to advance water sustainability and climate adaptation, consider investing in Fund I, which remains open to new investors. Six portfolio companies already have markups. Contact Peter to learn more.
About Echo River Capital Echo River Capital is a seed fund advancing water technology for global impact based in San Francisco. Echo River invests in emerging technologies to digitize, decarbonize and decentralize the water cycle to improve human health, the environment and climate resilience. Peter Yolles, General Partner, is the former co-founder and CEO of WaterSmart.com, which was acquired in 2020. Peter adds strategic value with 30 years of operating experience in the water industry along with a Yale MBA in finance and a Master's in water science, policy and management.