Quona Capital selected for ImpactAssets’ Eleventh “IA 50 Impact Fund” Listing
Industry’s searchable resource of impact investing fund managers sees record number of applicants and assets, reflecting innovation and exponential growth
WASHINGTON and BANGALORE, India, March 16, 2022 (GLOBE NEWSWIRE) — Quona Capital, a venture firm focused on financial inclusion in emerging markets, today announced it has been selected for ImpactAssets’ prestigious “IA 50 Impact Fund” listing for the third consecutive year. The listing, made up of private debt and equity impact investing fund managers, represents a broad range of geographies and impact areas of focus. More information is available here.
Quona Capital invests in companies that are expanding access to financial services for underserved consumers and small businesses in Latin America, Africa/MENA, India and Southeast Asia. Quona’s Fund I (AFIF) was anchored by nonprofit financial inclusion pioneer Accion and was deployed in a strong portfolio of investments that included the exits of Coins.ph (acquired by Go-Jek), and the IPO of IndiaMart, a B2B e-commerce company in India. The firm closed Fund II (AQF) with $203 million in commitments from a variety of global asset managers and insurance companies, investment and commercial banks, as well as university endowments, foundations, family offices, and development finance institutions. In late 2021, the firm began investing out of Fund III.
This year marks the eleventh edition of the IA 50, which now includes the IA 50 Emerging Impact Managers list and IA 50 Emeritus Impact Managers list. Across all three categories—and despite a tumultuous year where the world continued to grapple with the global effects of the COVID pandemic—143 impact fund managers reported assets totaling $116.96 billion invested in a range of asset classes and impact themes. Fifteen managers selected in this year’s showcase reported assets exceeding $1 billion. An additional ten had assets under management between $500 million and $1 billion.
“We are delighted to be included once again in the IA 50,” said Quona co-founder and Managing Partner Monica Brand Engel. “As signatories of the IFC’s Operating Principles for Impact Management, and as early pioneers in the impact measurement and impact investing space, Quona blends purpose with progress, capital with community, and innovation with execution to help founders build a more financially inclusive world—one that also generates positive returns for our investors.”
“The caliber of this year’s IA 50 lists is a product of the rigorous application scoring and analysis process that the IA 50 Review Committee has fine-tuned through the years,” added Sandra Kartt, CFA, Managing Director, Investments, ImpactAssets. “We’re thrilled to foster the continuing growth of these unique, innovative investing approaches addressing critical issues from climate to racial equity and gender equality.”
Quona, a venture capital firm founded in 2015 by Monica Brand Engel, Jonathan Whittle, and Ganesh Rengaswamy, was one of the first venture investors focused exclusively on emerging market fintech. Today the firm has team members in Brazil, India, Indonesia, Kenya, Mexico, Nigeria, South Africa and the US, which enables it to support its portfolio with connections across emerging and developed markets, facilitating the cross-pollination of ideas, best practices and strategic relationships among potential partners, investors, and acquirers.
“Our collective backgrounds as founders and builders of financial technology businesses in Quona’s target markets, as well as our work in venture, private equity, investment banking and microfinance, bring unique expertise to bear for our portfolio companies, and unique insights for our investors,” said Engel. “Our inclusion in this year’s ImpactAssets 50 list is a great recognition of Quona’s leadership in impact.”
About Quona Capital
Quona Capital is a venture firm focused on fintech that can expand access for underserved customers and small businesses in emerging markets including Latin American, Africa and the Middle East (MENA), and South and Southeast Asia. Quona’s global partners are experienced investors and operators in both emerging and developed markets, and invest in entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion for both consumers and SMEs. The firm’s most recent Impact Report is available for download here: https://quona.com/impact/
More at quona.com
About ImpactAssets
ImpactAssets is an impact investing trailblazer, dedicated to changing the trajectory of the planet’s future and improving the lives of all people. As a leading impact investing firm, ImpactAssets offers deep strategic expertise to help clients define and execute on impact goals. Founded in 2010, ImpactAssets increases flows of money to impact investing in partnership with clients through its impact investment platform and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers. ImpactAssets has more than $2 billion in assets in 1,700 donor advised fund accounts, working with purpose-driven individuals and their wealth managers, family offices, foundations and corporations. ImpactAssets is an independent 501(c)(3) organization.
*The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. In order to be considered for the IA 50 2022, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are available here.
MEDIA CONTACT:
Shannon Austin
[email protected]
+1 703.338.8813
