Quona Capital Closes a $332 million Fund to Finance Fintech Businesses in Developing Nations.
Quona Capital, a venture capital firm, has announced that Fund III, its third fund, has reached its final closure at $332 million. Surpassing its original goal of $250 million.
With its third fund, Quona plans to invest in 25 businesses over the upcoming 12 months.
The fund also has a secondary strategy that involves making very small investments in promising early-stage businesses. Including some that are still in the idea stage.
Due to a delay in fundraising brought on by macroeconomic difficulties, Rengaswamy said that the nature of conversations with limited partners (LP) who have invested in the fund has altered. More than 65 investments have already been made by it.