Quona Capital closes second fund at $203m to invest in Southeast Asia, India, Latin America, and Africa

10x Industry

Mita Srinivasan
10x Industry
Published:

Quona Capital closes second fund at $203m to invest in Southeast Asia, India, Latin America, and Africa

Quona Capital, a Washington and Bengaluru-headquartered venture capital firm, has announced the close of its second fund, Accion Quona Inclusion Fund, after securing $203 million in capital commitments. With the close of the latest fund, Quona Capital’s assets under management (AUM) currently stand at $363 million.

The fund was originally targeting to raise $150 million. It will invest in startups focusing on fintech and financial inclusion in markets such as Southeast Asia, India, Latin America, and Africa.

Quona has already clocked nine investments from the new fund over the past one year in companies such as Sunday (end-to-end insurance products), JULO (a digital consumer lender), and Ula (a digital commerce and fintech player), among others, in Southeast Asia. It has a strategic relationship with Accion, a nonprofit financial inclusion pioneer.

Quona’s first fund has already witnessed two exits so far: the sale of Coins.ph (a payments company in the Philipines) to Indonesia’s Gojek in January 2019 and the IPO of IndiaMart, a B2B e-commerce company, last year.