Quona Capital Announces Final Close Of Its Fintech Venture Fund At $332 Million The firm focuses its investments on innovative technology companies that are expanding access to financial services for underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and MENA
By Teena Jose
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Emerging markets venture capital firm Quona Capital has announced the final close of its Fund III at $332 million, significantly exceeding its $250 million target. This is the third fund from Quona Capital since its inception, bringing the firm's aggregate committed capital to over $745 million. The firm focuses its investments on innovative technology companies that are expanding access to financial services for underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and MENA.
Quona's Fund III investors include an array of global asset managers, insurance companies, investment and commercial banks, university endowments, foundations, family offices and development finance institutions. The majority of Fund III investors returned from prior Quona funds, joined by more than 20 new relationships, as per the company's statement.
"With 35 per cent of the global population and over 150 million small businesses, the Asia region hosts a very large proportion of the world's marginalised consumers and small businesses. The rapid digitisation of these markets, combined with the innovative solutions developed by the companies Quona is investing in, are bringing these consumers and small businesses into mainstream economic and financial systems. Quona is proud to be a catalyst in enabling these entrepreneurs and their teams," said Ganesh Rengaswamy,who leads the Quona's investments in India and Southeast Asia.
Quona Capital was established as an independent venture capital firm in 2015 by co-founding managing partners Monica Brand Engel, Jonathan Whittle, and Ganesh Rengaswamy. Today the firm's global team, which includes investment professionals and other staff hailing from more than 10 countries and speaking 20 languages that brings a unique combination of deep experience as investors and operators in financial services and technology together with a passion for making investments for lasting impact, as per the statement.
