Quona Capital announces Rs 2,700 cr fund

Venture capital firm Quona Capital on Tuesday said it has closed its third fund at USD 332 million (about Rs 2,700 crore), which it will invest in emerging markets including India.

This is the third fund from Quona Capital since its inception, bringing the firm's aggregate committed capital to over USD 745 million (around Rs 6,078 crore).

''With 35 per cent 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.

''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,'' said Ganesh Rengaswamy, who leads Quona's investments in India and Southeast Asia.

Quona focuses its investments on innovative technology companies that are expanding access to financial services for underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and the MENA (Middle East and North Africa) region.

It has invested in several Indian startups, including IndiaMart, ZestMoney and CreditMantri.