Africa-Focused Impact Funds Picked for IA 50 List

Monica Brand Engel, co-founder and managing partner of Quona Capital

The prestigious “IA 50 Impact Fund” list which is made up of private debt and equity impact investing fund managers representing a broad range of geographies and impact areas of focus has selected 36 Africa-focused impact funds. The ImpactAssets is a non-profit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns, and the IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors.

Monica Brand Engel, co-founder and managing partner of Quona Capital
Monica Brand Engel, co-founder and managing partner of Quona Capital

It offers an easy way to identify experienced impact investment firms and explore the landscape of potential investment options, and this year’s list is now available. This year marks the 10th edition of the IA 50, and despite a tumultuous year, total assets under management (AUM) among selected fund managers jumped to a record US$228 billion in 2020, up from US$181 billion in 2019.

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The 36 funds that have at least some focus on Africa, including Acre Impact Capital, African Frontier Capital, AlphaMundi Group, Bamboo Capital Partners, Calvert Impact Capital, Capria Ventures, Clean Energy Ventures, and CrossBoundary. Also on the list are DBL Partners, Developing World Markets, FactorE Ventures, Fyre Fem Fund Managers, Global Partnerships, Goodwell Investments, INOKS Capital, Investisseurs & Partenaires, Kiva Capital Management, LeapFrog Investments, Lendable, Media Development Investment Fund, Mirova, and Okavango Capital Partners. The Africa-focused funds are completed by Open Road Impact Fund, Pymwymic Investment Management, Quona Capital, responsAbility Investments, Root Capital, Shared Interest, Social Investment Managers and Advisors, Stichting Medical Credit Fund, SunFunder, UNICEF Impact Fund for Children, VestedWorld, Vital Capital, WaterEquity, and Women’s World Banking.

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“We are thrilled to be included once again in the IA 50. ImpactAssets has done important work identifying a great swath of impact investors who are working to deliver positive impact on the world as well as positive returns for investors,” said Monica Brand Engel, co-founder and managing partner of Quona Capital, which invests in financial technology companies that are expanding access to financial services for underserved consumers and small businesses in Latin America, Africa, India and Southeast Asia.

“Quona is one of the first investors focused exclusively on emerging market fintech, which has produced unparalleled sector and operational expertise in the firm.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

A New $203m Accion Quona Inclusion Fund Launched For Fintech Startups

African fintech startups have a new fund to pitch to. Quona Capital, a venture firm focused on financial inclusion in emerging markets, has announced the final close of the Accion Quona Inclusion Fund at US$203 million in commitments from an array of leading investors.

Monica Brand Engel, Quona Capital co-founder and partner
Monica Brand Engel, Quona Capital co-founder and partner

This oversubscribed fund represents a significant milestone for financial inclusion and the impact investing industry. Our portfolio of promising business models promoting financial inclusion in emerging markets demonstrates the connection between profit and purpose. Fintech for inclusion brings marginalised consumers and small businesses to the mainstream and can inspire even more entrepreneurial problem-solving in traditionally underserved communities,” said Monica Brand Engel, Quona Capital co-founder and partner.

Here Is All You Need To Know

  • Investors in the latest fund include global asset managers and insurance companies, investment and commercial banks, as well as university endowments, foundations, family offices, and development finance institutions.
  • The Accion Frontier Inclusion Fund is the first fund managed by Quona and sponsored by Accion, and will pursue Quona’s usual strategy, which was deployed in a strong portfolio of investments with two exits to date.

“Our fund performance, robust pipeline of inclusive fintechs, and growing LP interest are a ringing endorsement of our thesis about the power of emerging market venture capital,” said Monica Brand Engel. 

  • Image result for African fintech startup funding
  • Quona Capital, which has supported more than 20 financial technology companies expanding access for underserved consumers and small businesses in Latin America, South and Southeast Asia, and Sub-Saharan Africa, has a strategic relationship with Accion, a global non-profit focused on microfinance and fintech impact investing. 
  • Together, the two organisations have launched the Accion Quona Inclusion Fund, which has just closed at US$203 million, significantly exceeding its $150 million target.
  • African startups that have previously benefited from the fund include South Africa’s online SME working capital lender, Lulalend; Kenya’s ecommerce platform for informal lenders, Sokowatch; South Africa’s mobile payments and agent network Zoona, among others. 

How Africa Fintech Startups May Pitch To The Fund

For enquiries contact Accion Quona Inclusion Fund by filling a form here.

Read more: A New $20m Fund For African Logistics Startups Launched By Imperial, Newtown Partners 

A Look At Quona Capital

Quona Capital is a scale-up stage venture firm focused on fintech for inclusion in emerging markets. Quona partners have deep experience as investors and operators in both emerging and developed markets, and look for entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion. To date, Quona has supported more than 20 financial technology companies expanding access for underserved consumers and small businesses in Latin America, South and Southeast Asia, and Sub-Saharan Africa. Quona got its start through a strategic relationship with Accion, a global nonprofit with a pioneering legacy in microfinance and fintech impact investing. Quona has a global team covering all its markets, with team members in Washington DC, Bangalore, Cape Town, and Mexico City. For more information, visit quona.com.

A Look At Accion

Accion is a global nonprofit committed to creating a financially inclusive world, with a pioneering legacy in microfinance and fintech impact investing. We catalyze financial service providers to deliver high-quality, affordable solutions at scale for the three billion people who are left out of — or poorly served by — the financial sector. For more than 50 years, Accion has helped tens of millions of people through our work with more than 110 partners in 50 countries. More at
http://www.accion.org.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com