QUONA GLOBAL GATEWAY FUND IV

Promoter – Financial Intermediary

QUONA CAPITAL MANAGEMENT LLC

Location

• Regional - Asia
• Regional - Latin America
• Regional - Africa

Description

The operation consists in an equity participation in Quona Global Gateway Fund IV, a venture capital fund focusing on start-ups and small and medium sized enterprises (SMEs) in the digital financial services sector and promoting digitalisation.

Objectives

The aim is to contribute to a greater financial inclusion of underserved or poorly served populations of the targeted geographies, in line with Global Gateway priorities, among others, the Global Gateway Digital investment priority. The fund not only aims at generating financial return but also at creating impact. Over the past nine years, the fund manager has contributed to create 23,000 new jobs, while supporting female entrepreneurs and consumers, in line with the 2X Challenge. Additionally, the operation will support a number of sustainable development goals including SDG 1 (No Poverty), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation, and Infrastructure), SDG 10 (Reduce Inequalities).

Sector(s)

• Services - Financial and insurance activities

Proposed EIB finance (Approximate amount)

USD 50 million (EUR 46 million)

Total cost (Approximate amount)

USD 350 million (EUR 320 million)

Environmental aspects

For the environmental and social aspects, investee companies will be requested to comply with the EIB's guidelines, as well as with applicable national and EU legislation, as appropriate.

Procurement

The fund will be requested to comply with the EIB's guidelines, as well as with applicable national and EU legislation, as appropriate.

Status

Under appraisal - 6/03/2024