QUONA GLOBAL GATEWAY FUND IV

Promoteur – Intermédiaire Financier

QUONA CAPITAL MANAGEMENT LLC

Lieu

• Régional - Asie
• Régional - Amérique latine
• Régional - Afrique

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.

Additionality and Impact

This operation presents a unique opportunity for the EIB to support an emerging leader in fintech venture capital investments across emerging markets with a global reach, adopting a proven strategy of using innovative digital technologies in alignment with the Global Gateway digital investment priority to promote financial inclusion for underserved populations, driven by a seasoned investment team with a solid track record.

Joining as an anchor investor of the fund at first close with a sizeable commitment, the EIB is expected to send a positive signal to prospective investors, thereby playing a catalytic and countercyclical role in support of the fund manager's endeavours to reach its target fund size in a subdued fundraising environment.

The EIB played an instrumental role in the Fund being aligned with at least one of the EIB's Financing for Gender Equality Criteria, which is a first for a fund managed by this team, and in pushing for a greater share of women in the Fund Manager's executive layer. This operation is also expected to be eligible for the EIB's forthcoming HER RISE initiative. Furthermore, the EIB is expected to ensure the adoption of best practices in terms of environmental, social and governance ("ESG") aspects through active participation in the Fund's Advisory Committee ("AC").

Objectifs

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).

Secteur(s)

• Services - Activités financières et d'assurance

Montant BEI envisagé (montant approximatif)

USD 55 million (EUR 51 million)

Coût total (montant approximatif)

USD 350 million (EUR 327 million)

Aspects environnementaux

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.

Passation des marchés

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

Statut

Signé - 20/12/2024