 "IFC to invest up to $15 million in Accion Frontier Inclusion Fund")
International Finance Corporation (IFC) is planning to make an equity investment of up to $15 million in Accion Frontier Inclusion Fund LP, a PE fund that invests in early and growth-stage companies.
The fund will be structured as a Cayman Islands exempted limited partnership and will be managed by Quona Capital Management.
It will invest in companies that provide products, services or technology to expand the financial inclusion of the under and unbanked population in Africa, Asia and Latin America.
Accion didn't respond to mails or calls about the deal.
According to the disclosure, the investment manager's principals are primarily based in Washington, D.C. and Bangalore.
The fund's general partner, Accion Frontier Inclusion Fund GP, LLC is 100% owned by Accion International, a Delaware, US-based LLC.