In brief: Quona raises opportunities fund to double down on promising assets

The fintech manager hopes to raise $70m-$75m to invest in companies beyond the firm's early-stage sweet spot, according to a market source.

Quona Capital is raising an opportunities fund alongside its flagship early stage product, New Private Markets has learned. Here’s what we know:

  • The fund will allow Quona to continue to invest in top-performing assets as they grow beyond the flagship early-stage on which the firm traditionally focuses
  • A total of $70 million to $75 million is the soft target for the fund, according to a market source. Quona declined to comment
  • Munich-based investor Golding Capital Partners has committed to the fund from its impact investing programme

Launched in Washington, DC, in 2015, Quona has focused on investing in fintech companies targeting underserved consumers and businesses mostly outside the US. The firm’s third flagship fund (to which Golding also committed) closed on $332 million in September last year, according to NPM‘s database, beating its $250 million target.

The firm positions itself as a manager with strong impact credentials, and prioritises increasing financial inclusion in emerging markets. It said 30.2 million retail customers benefited from its investments in 2021, according its most recent impact report, 77 percent of which were underserved.