| Project Detail |
The operation consists in an equity participation in Quona Global Gateway Fund. Quona is a venture capital fund providing equity and quasi-equity to high-growth start-ups in the financial digital sector serving consumers and small and medium-sized enterprises (SMEs) in developing countries in Latin America, Asia and Africa.
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 47 million)
Total cost (Approximate amount)
USD 350 million (EUR 329 million) |
