Quona Cap closes new fund at $332 million  | The Financial Express

Quona Cap closes new fund at $332 million 

Quona says it backs innovative technology firms that are expanding the access of financial services for the underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and the Middle East (West Asia) and North Africa (MENA) regions.

Quona Cap closes new fund at $332 million 
In all, this is the third fund from the VC firm since its inception in 2015, helping the firm’s committed capital to reach over $745 million. (Representational image)

Quona Capital, an emerging markets-focused venture capital firm, on Tuesday announced the final close of its Fund 3 at $332 million, higher than its target of $250 million. Quona says it backs innovative technology firms that are expanding the access of financial services for the underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and the Middle East (West Asia) and North Africa (MENA) regions.

Also read| How to build a sustainable brand minus funding?

In all, this is the third fund from the VC firm since its inception in 2015, helping the firm’s committed capital to reach over $745 million. “With 35% 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,” said Ganesh Rengaswamy, managing partner, investment lead, India and Southeast Asia, Quona Capital.

Also read| Litigation funding: An emerging solution to the challenges and disagreements faced by homebuyers

“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.”

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 09-11-2022 at 08:01 IST