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Asset/Investment Management
essexinvest.com

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Investments

58

Portfolio Exits

33

Funds

2

Partners & Customers

1

About Essex Investment Management Company

Essex Investment Management Company, founded in 1976, is a Boston based investment advisor.

Essex Investment Management Company Headquarter Location

125 High Street 29th Floor

Boston, Massachusetts, 02110,

United States

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Latest Essex Investment Management Company News

When you think climate change, you need to think about water

Apr 23, 2021

Close Authorship With nearly a half its land lying below sea level, the Netherlands knows a lot about water and how to make sure a city’s infrastructure is resilient to it, particularly flood risks and freshwater supply. Arcadis , a Dutch engineering firm, is applying that knowledge to cities around the world by creating infrastructures with sustainability at the forefront, such as water recycling facilities inside manufacturing companies in Mexico. While a growing number of companies such as Arcadis are creating solutions and investing in ways to combat climate change issues, there's still untapped potential for water investment, according to industry experts participating in the recent GreenFin virtual event. "The global need for freshwater is set to grow exponentially. Meanwhile, many urban water systems are in dire need of repair," said Seb Beloe, head of sustainability research at WHEB Asset Management . "Add in desalination, agriculture and wastewater management, and water stands to become one of the world’s biggest capital-growth opportunities." The United Nations projects that by 2030 global demand for freshwater is expected to surpass supply by 56 percent. The Nasdaq Veles California Water Index (NQH2O), which tracks the price of water rights across California’s farm belt, jumped nearly half during the first two weeks of April due to the short rainfall this winter season. Meanwhile, eight of the top cities in the U.S. are facing water scarcity due to contaminated waterways. The global need for freshwater is set to grow exponentially. Meanwhile, many urban water systems are in dire need of repair. At GreenFin 2021 , investors shared their insights as to how they are profiting off water risk investments. Ecolab is creating technology that businesses can use to calculate and reduce their water usage. American investment management company Essex is putting its money where its mouth is and tackling the water crisis through individual industries. In a similar fashion, British asset management company WHEB is making sure each company it invests in is not only in the process of going zero-carbon but addressing social issues in tandem. And while each company agrees that change has to happen at a local level, here’s their advice on how they’re tackling the issue through their companies. Ecolab: Water is a shared resource According to Emilio Tenuta, vice president of corporate sustainability at Ecolab, one key to addressing water issues is "setting standards that are globally consistent and locally adaptable to inform decisions and encourage collective action." Ecolab focuses on research, technology and innovation when it comes to water investments. It has worked with companies including Kraft, Néstle and Marriot to help reduce their water usage. The company recently launched an updated version of its publicly available smart water navigator , which helps organizations assess their water risks and come up with a plan and goals to address them. Part of the purpose of the navigator is to close the gap between organizations’ water reduction targets and their results. Tenuta said many companies are trying to address water usage in order to solve internal operational problems, but they are not connecting those goals with the environmental needs of the communities where they are based. And when thinking about investing in other technologies and companies, it’s important to recognize "water as a value-valued asset, and not as a scarce liability," Tenuta said. "We know that water is a shared resource, and actions need to be driven locally." Essex: Water is an expression of climate change at a local level Water is one of the nine themes that make up the sustainable investment philosophy at Essex. However, William Page, portfolio manager at Essex Investment Management Company, pointed out the other eight themes are all closely connected to water as well. For example, 72 percent of water usage in the world goes to agriculture. And when it comes to energy, Ceres , a nonprofit organization that works with capital market leaders to solve sustainability challenges, found that 20 percent of the largest publicly traded companies are heavily reliant on water, particularly in industries such as oil, semiconductors and chemicals. "Water is an expression of climate change. It's completely directly linked, but it's a localized exhibit of climate change," Page said. "If you think about climate in the notion of the externality of CO2 being monetized, that's more of a fungible externality. Whereas water, in exciting fashion, is way more complex. So it's an area that is fraught with risk, but also, most importantly, a major opportunity. "  WHEB: Water issues are social issues Beloe said it's not just about investing in companies that are doing something to address climate change, but investing in companies that are doing something to help communities adapt to become more resilient. Water issues are social issues, he noted. Companies taking action to save water in their daily operation is a positive step. But they also should look at how their use of water is affecting the community they are in, he said. For example, during the GreenFin Panel, Beloe mentioned partnerships and initiatives where farmers work with nearby cities to create healthy ecosystems that not only prevent their land from flooding but also better preserve the water quality across the region. WHEB is an investment strategy company based in the United Kingdom that backs businesses making products and services to address sustainability challenges. One company it invests in is Arcadis. One of its projects, with General Motors in Mexico, examined ways to grow the automaker’s manufacturing plant while reducing the amount of water extracted. Arcadis did this by creating recycling facilities that preserve the local water supply and quality. When it comes to addressing water issues from a local and social aspect, Beloe said, "I think we can definitely raise our game as the investor community as a whole to that opportunity. "  According to the Word Research Institute , if current use water continues at its present level, by 2025 two-thirds of the world will live in water-stressed areas. Corporate water action doesn’t match the urgency of our world's water crisis, but it should. Show comments for this story.

Essex Investment Management Company Investments

58 Investments

Essex Investment Management Company has made 58 investments. Their latest investment was in Ironwood Pharmaceuticals as part of their Unattributed VC on January 1, 2007.

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Essex Investment Management Company Investments Activity

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Essex Investment Management Company Portfolio Exits

33 Portfolio Exits

Essex Investment Management Company has 33 portfolio exits. Their latest portfolio exit was Staples on September 12, 2017.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/12/2017

Take Private

$99M

4

7/15/2010

Acquired

$99M

2/12/2010

IPO

$99M

Public

12/8/2008

Acquired

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$99M

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0

8/8/2008

Acquired

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$99M

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0

Date

9/12/2017

7/15/2010

2/12/2010

12/8/2008

8/8/2008

Exit

Take Private

Acquired

IPO

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

4

0

0

Essex Investment Management Company Fund History

2 Fund Histories

Essex Investment Management Company has 2 funds, including Essex Private Placement Fund II LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/1999

Essex Private Placement Fund II LP

Late-Stage Venture Capital

Closed

$25M

1

12/31/1999

Essex Private Placement Fund I LP

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$99M

10

Closing Date

12/31/1999

12/31/1999

Fund

Essex Private Placement Fund II LP

Essex Private Placement Fund I LP

Fund Type

Late-Stage Venture Capital

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Status

Closed

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Amount

$25M

$99M

Sources

1

10

Essex Investment Management Company Partners & Customers

1 Partners and customers

Essex Investment Management Company has 1 strategic partners and customers. Essex Investment Management Company recently partnered with Ultimus Fund Solutions on September 9, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

9/27/2017

Vendor

United States

Essex Investment Management Selects Ultimus Fund Solutions to Service its Environmental Opportunities Fund – Ultimus

Through its relationship with Hamersley Partners , LLC , Essex Investment Management Company , LLC chose to pursue this venture with Ultimus Fund Solutions .

1

Date

9/27/2017

Type

Vendor

Business Partner

Country

United States

News Snippet

Essex Investment Management Selects Ultimus Fund Solutions to Service its Environmental Opportunities Fund – Ultimus

Through its relationship with Hamersley Partners , LLC , Essex Investment Management Company , LLC chose to pursue this venture with Ultimus Fund Solutions .

Sources

1

Essex Investment Management Company Team

4 Team Members

Essex Investment Management Company has 4 team members, including current Chief Executive Officer, Joseph C McNay.

Name

Work History

Title

Status

Joseph C McNay

Chief Executive Officer

Current

Deb Coulter

Chief Financial Officer

Current

Nancy Prial

Managing Principal

Current

Chris McConnell

Chief Executive Officer

Former

Name

Joseph C McNay

Deb Coulter

Nancy Prial

Chris McConnell

Work History

Title

Chief Executive Officer

Chief Financial Officer

Managing Principal

Chief Executive Officer

Status

Current

Current

Current

Former

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