Obviously, we have nuances in how we approach our markets, but we are in four continents. India is where we have maximum investments, followed by Indonesia and Brazil,” Rengaswamy added.Quona will look to invest in 25 companies over the next 12 months with its third fund.“The rough idea is that we invest in around 20-odd companies out of each fund. With this fund being significantly larger in size and fairly oversubscribed, we will probably go up to 25 companies,” Rengaswamy said.He said the fund also has a side strategy of making very small investments in promising early-stage companies, including those at the idea stage.“If we like the idea and the founders, we will probably do smaller cheques. And those 6-10 investments will be over and above the 25. It has made more than 65 investments so far.“Since our earliest days, Quona has been dedicated to expanding the frontiers of financial inclusion — investing with conviction in markets and technology-enabled models that are improving access to and quality of financial services for the masses,” said Engel, who leads Quona’s investments in Africa, and Middle East and North Africa (MENA).“Our prior fund performance, robust pipeline of inclusive fintech, and growing LP interest in our offerings are ringing endorsements of our view on the prospects of impact-oriented venture investing in emerging markets,” she said.

Source: Economic Times November 09, 2022 02:42 UTC