LeapFrog Raises $204M Second Fund

Sep 9 2013 | 8:59am ET

LeapFrog Investments, the emerging markets fund manager with a focus on “purpose-driven” businesses, has raised $204 million for its second private equity fund.

The fund will invest in African, South Asian and Southeast Asian companies providing financial services—insurance, savings, pensions, investment products—to emerging consumers.

Investors in this first round of fundraising include leading insurers, reinsurers, banks and asset managers like MetLife, Prudential, XL Group, Achmea, PartnerRe, Swiss Re, JPMorgan Chase & Co., Christian Super and TIAA-CREF. The fund has also received backing from five of the world’s leading development finance institutions: CDC, DEG, the European Investment Bank, FMO and Oikocredit.

“The entry of these leading financial institutions indicates the increasing attractiveness of the emerging consumer segment—the millions of people eager to join the middle class but who are not there yet,” said Andrew Kuper, LeapFrog president and founder, in a statement. “There are 1.9 billion emerging consumers in LeapFrog’s target regions, and their spending power is forecast to rise from $2 trillion today to $5 trillion in the coming decade. Financial services are crucial springboards for households and businesses, but access is very limited. LeapFrog backs the best companies to serve this vast and untapped market.”

LeapFrog raised the initial capital in just eight months, tapping many investors from its first, $135 million fund—some of whom have doubled or tripled their allocations.

“We’re very focused on approaches that leverage global finance and our capabilities to address long-standing economic challenges around the world,” said Peter Scher, executive vice-president, JPMorgan Chase & Co, in a statement. “Our partnership with LeapFrog Investments is a perfect example of this effort. Leapfrog’s strategy presents a compelling investment opportunity to financially empower millions of people in historically underserved communities in Africa and Asia.”

To date, LeapFrog’s portfolio companies provide financial products to over 18 million people across 13 countries.
 


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR