Quona Capital Secures $332m in Funding Round for Financial Inclusion Investments in Emerging Markets

Quona Capital, a venture capital firm specializing in emerging countries, has announced the final closing of its Fund III at US$332 million, much above its US$250 million goal.

As a stand-alone venture capital firm, Quona Capital was founded in 2015 by managing partners Jonathan Whittle, Ganesh Rengaswamy, and Monica Brand Engel.

It concentrates its investments on cutting-edge technology firms that are increasing underserved people’ and enterprises’ access to financial services in Latin America, India, Southeast Asia, Africa, and the Middle East.

Since the company’s founding, Quona Capital has raised three funds, totaling more than US$745 million in committed capital. Leading international asset managers, insurance firms, investment and commercial banks, university endowments, foundations, family offices, and development finance organizations are just a few of the investors in Fund III. More than 20 new connections joined the bulk of previous Quona fund investors who had invested in Fund III.

According to Monica Brand Engel, who oversees Quona’s investments in Africa and the Middle East, “Since our earliest days, Quona has been dedicated to expanding the frontiers of financial inclusion – investing with conviction in markets and technology-enabled models improving access and quality of financial services for the masses.” “Our past fund performance, strong pipeline of inclusive fintechs, and growing LP interest in our products are ringing endorsements of our stance on the prospects of impact-oriented venture investing in emerging economies,” says the author.

Since the company’s founding, Quona Capital funds have made more than 65 investments.