Veralto Commits 20M to Emerald's Global Water Fund II as Cornerstone Investor

Veralto Corporation (NYSE:VLTO) is one of the most profitable new stocks to buy now. On July 22, Veralto announced a €20 million investment commitment to Emerald Technology Ventures’ Global Water Fund II.

The commitment establishes Veralto as a cornerstone investor in the new fund, which is targeting between €150 million and €180 million and is expected to launch in October.

Veralto’s investment provides it with early insight and access to promising early and growth-stage water technology businesses that aim to solve complex challenges faced by Veralto’s current customers. In turn, Emerald’s portfolio companies will benefit from Veralto’s strong customer relationships, global market reach, and proven expertise in scaling innovative businesses.

Veralto Corporation (NYSE:VLTO) provides water analytics, water treatment, marking & coding, and packaging & color solutions. It operates through 2 segments: Water Quality/WQ and Product Quality & Innovation/PQI.

Emerald Technology Ventures is a venture capital firm that focuses on sustainable industrial innovation and manages over €1.2 billion in assets.

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Disclosure: None. This article is originally published at Insider Monkey.