LeapFrog Investments

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LeapFrog Investments
TypePrivate
IndustryPrivate equity, financial services,[1] alternative investments[2]
Founded2007
FoundersAndrew Kuper (Founder and CEO), Jim Roth[3](Co-founder and Partner)
Areas served
Africa and Asia
ServicesInvestments, Technical and Management Support
Websitewww.leapfroginvest.com

LeapFrog Investments is a private investment firm that invests in high-growth financial services and healthcare companies in emerging markets. Since inception, LeapFrog has attracted over $2 billion USD from global investors. The firm's investments have an annual growth rate of more than 26% and its companies reach approximately 221 million consumers,[4] primarily in Africa and Asia.[5]

Details[]

LeapFrog was founded in January 2007 by Andrew Kuper and officially launched in 2008 by former US President Bill Clinton who endorsed the firm for opening new frontiers for alternative investments.[6][7]

According to The Economist, LeapFrog is a well-established impact investing firm.[8] LeapFrog has attracted over $2 billion USD from global investors, including Temasek,[9] Prudential Financial,[2] Swiss Re,[10] JP Morgan, TIAA-CREF[11] and eBay founder Pierre Omidyar's Omidyar Network.[12][13][14] The firm has invested in companies such as BIMA, a financial technology business that provides services including mobile insurance to 37 million low income customers in Asia, Africa and Latin America,[15][16] and India's Mahindra Insurance Brokers, a leading Indian insurance broker and part of Mahindra Group. LeapFrog expanded its reach into healthcare in 2016, investing in companies including Kenyan retail pharmacy chain Goodlife[6]

LeapFrog owns significant stakes in companies in Ghana, Kenya, Nigeria, South Africa, Thailand, Indonesia, Sri Lanka and India.[17] It raised its first fund of $135 million in 2009 to invest in insurance and related financial services companies.[18] In September 2013, LeapFrog Investments launched its second fund, raising $204 million USD initially, and in 2014 it announced the fund was oversubscribed at $400 million USD.[5] Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, committed to invest up to $200 million USD in December 2015, the largest investment commitment historically by OPIC to any impact fund manager.[19] In January 2016, Prudential Financial invested $350 million USD with the firm.[12]

LeapFrog consulted on the creation of the Operating Principles for Impact Management in Partnership with the IFC and World Bank in 2018.[20] The nine principles were created to set a basic market standard for impact investing and serve as a guide to deployment of capital by institutional investors. In 2019, LeapFrog became the first impact investor globally to announce the results of an independent audit of its impact against the Operating Principles for Impact Management.[21] LeapFrog was deemed an "exemplification of industry best practice" with its impact measurement and management systems assessed as reaching "an advanced level of alignment across the board for all nine of the Principles".[22]

In 2018, LeapFrog formed its Global Leadership Council. Members include Julia Gillard AC, former Prime Minister of Australia,[23] Henri de Castries, former chairman and CEO of AXA, Simon Israel, former Chairman of Singtel, Jaime Augusto Zobel De Ayala, Chairman and CEO of Ayala Corporation,[24] Bharat Doshi, former Director of the Reserve Bank of India[25] and David Gonski, former Chairman of ANZ Banking Group.[26]

In 2019, LeapFrog raised $700 million USD[27] for its third emerging markets fund. It used the funds to invest in companies including WorldRemit and MedGenome. The fund launched with 40 institutional investors[28] including Prudential Financial, OPIC and International Finance Corporation.

In March 2021, Temasek, an investment company headquartered in Singapore, entered into a $500 million USD[29] strategic partnership with LeapFrog. The multi-fund investment by Temasek anchors LeapFrog's future funds and provides growth capital to support the expansion of the LeapFrog team and investment capabilities across Asia and Africa.

LeapFrog has offices in Mauritius, Singapore, South Africa, Australia, Nairobi, Lagos and the United Kingdom.[12] In 2017, Fortune ranked LeapFrog Investments as one of the top 5 Companies to Change the World, alongside Apple and Novartis.[30]

See also[]

References[]

  1. ^ Rosenberg, Tina (6 June 2012). "The Microinsurance Revolution". The New York Times. Retrieved 16 February 2016.
  2. ^ a b Clark, Simon (22 January 2016). "Prudential Financial to Invest $350 Million in African Insurers". Wall Street Journal. Retrieved 16 February 2016.
  3. ^ Bahree, Megha (8 September 2011). "Shriram, LeapFrog Jump Into Microinsurance". Wall Street Journal. Retrieved 16 February 2016.
  4. ^ Review, Asia Insurance. "An emerging markets story- Reaching the next 1bn by 2030". Asia Insurance Review. Retrieved 2018-08-29.
  5. ^ a b Cranston, Stephen (24 October 2013). "Leapfrog Investments raises second fund". Financial Mail. Retrieved 16 February 2016.
  6. ^ a b Will Smale (January 23, 2017). "Why Bill Clinton helped a 33-year-old build a $1bn firm". BBC. Retrieved February 16, 2017.
  7. ^ Chassany, Anne-Sylvaine (8 September 2014). "LeapFrog Attracts $400 million with Chance to do Good". Financial Times. Retrieved 16 February 2016.
  8. ^ ""Impact investing" inches from niche to mainstream". The Economist. January 5, 2017. Retrieved January 20, 2017.
  9. ^ Flood, Chris (2021-03-09). "Temasek commits $500m to impact investing specialist LeapFrog". www.ft.com. Retrieved 2021-06-11.
  10. ^ Ehis Okpamen (October 8, 2014). "Leapfrog sells minority stake in local insurer to Swiss Re". Ventures Africa. Retrieved January 20, 2017.
  11. ^ Jessica Pothering (December 30, 2014). "This Investment Firm Is Insuring Families' Rise Out of Poverty". Entrepreneur. Retrieved February 16, 2017.
  12. ^ a b c "LeapFrog Investments Snags $500 million from Prudential for Fintech in Africa". Australian Financial Review. 24 January 2016. Retrieved 16 February 2016.
  13. ^ Saldinger, Adva (18 December 2015). "Impact investing firm breaks a billion". Devex Impact. Retrieved 16 February 2016.
  14. ^ Sirimanna, Bandula. "Soros presence seen boosting more foreign investment". Sunday Times. Retrieved 16 February 2016.
  15. ^ Jonathan Shapiro (27 May 2016). "The good capitalist - lunch with LeapFrog's Andy Kuper". The Australian Financial Review. Retrieved 24 August 2016.
  16. ^ Luke Graham (September 15, 2016). "Emerging markets can satisfy demand for ethical investing, says strategist". CNBC. Retrieved February 16, 2017.
  17. ^ Renee Bonorchis (26 February 2015). "LeapFrog Buys $25 Million Stake in AFB Mauritius in Fourth Deal". Bloomberg Business. Retrieved 16 February 2016.
  18. ^ Kannan, Shilpa (29 September 2011). "Could impact investing help India's poor?". BBC. Retrieved 16 February 2016.
  19. ^ "US Govt's OPIC commits $200 million in LeapFrog Investments". Business Standard. 11 December 2015. Retrieved 16 February 2016.
  20. ^ "Investing for Positive Impact: What is Needed to Scale Up". World Bank Live. 2018-09-21. Retrieved 2021-06-11.
  21. ^ "LeapFrog Investments backs IFC's 'operating principles for impact management'". Impact Alpha. 2018-10-15. Retrieved 2021-06-11.
  22. ^ Mirchandani, Bhakti. "Finally A Way To Assure Sustainability And Impact! Vornado, Etsy, And LeapFrog Lead The Charge". Forbes. Retrieved 2021-09-02.
  23. ^ "Julia Gillard joins impact investor LeapFrog". Australian Financial Review. 2019-11-05. Retrieved 2021-06-11.
  24. ^ "LeapFrog adds former Aus PM, Singtel and Ayala execs to advisory council". DealStreetAsia. Retrieved 2021-06-11.
  25. ^ "Former CFO of Mahindra Group Bharat Doshi Appointed for LeapFrog Investment's Global Leadership Council". BW people. Retrieved 2021-06-11.
  26. ^ "Why David Gonski's next big move is a win-win business model". Australian Financial Review. 2020-10-20. Retrieved 2021-06-11.
  27. ^ "LeapFrog Investments closes $700 million fund for healthcare and financial services". Impact Alpha. 2019-05-10. Retrieved 2021-06-11.
  28. ^ Singh, Preeti (2019-05-09). "LeapFrog hauls in $700m for third fund". Private Equity International. Retrieved 2021-06-11.
  29. ^ Szkutak, Rebecca. "Investor LeapFrog Secures $500 Million Commitment From Temasek To Anchor Multiple Impact Funds". Forbes. Retrieved 2021-06-11.
  30. ^ "Fortune Change the World 5 LeapFrog Investments". Fortune. 2017. Retrieved 30 October 2017.
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