Quona Financial Inclusion Fund III

Date: 2022

Asset Class: Venture Capital

Description:  Quona Capital is a venture capital firm seeking to invest in companies that expand access to financial services for underserved customers and businesses in emerging markets, with a focus on Latin America, South & Southeast Asia, Africa, and the Middle East & North Africa.

Why We Invest: ~1.7bn people globally and ~200m micro, small and medium enterprises ("MSMEs") in emerging economies lack access to bank accounts, credit, savings, and insurance. In emerging markets, traditional banks have been reluctant to lend capital to low-to-medium income individuals and MSMEs. The accessibility of low-cost financial products for the underbanked is shifting dramatically given recent technological developments, such as an increase in mobile phone and internet use. This dynamic creates a market that is well positioned for growth and innovation.