Quona Capital, a venture capital firm focused on emerging countries, recently announced the final close 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, bringing its total committed capital to approximately US $745 million. Several of the top global asset managers, insurance providers, commercial and investment banks, university endowments, foundations, family offices, and development finance organizations are among the investors in Fund III. More than 20 new connections joined the bulk of Fund III investors who had previously invested in Quona funds.
“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,” said Monica Brand Engel, who leads Quona’s investments in Africa and MENA. “Our prior fund performance, robust pipeline of inclusive fintechs, and growing LP interest in our offerings are ringing endorsements of our view on the prospects of impact-oriented venture investing in emerging markets.”
Since the company’s founding, more than 65 investments have been made using Quona Capital.