$1.15B LeapFrog Fund Targets Impact In Africa And Asia

LeapFrog Investments, a private equity firm with a focus on impact-driven investments, has closed its fourth fund, raising $1.15 billion to fuel financial services and healthcare in emerging markets. 

The milestone includes $808 million in primary commitments and $210 million allocated for co-investments. 

This fund aims to reach millions of underserved consumers in Africa and Asia with transformative services.

Expanding the Reach of Impact Investing

The Fund IV investor lineup includes leading global institutions like Temasek, Prudential Financial, and AIA, alongside development finance powerhouses such as the European Investment Bank and the U.S. International Development Finance Corporation. 

Contributions also came from prominent entities like Sumitomo Mitsui Trust Bank, Eli Lilly, and the Ford Foundation, with additional support from new investors spanning regions including Singapore, Turkey, and Norway.

LeapFrog’s mission to deliver “Profit with Purpose” resonates with its backers, aiming to support companies that blend high-impact solutions with strong financial returns, according to Urban Geekz.

Targeting Emerging Consumers and Climate Challenges

With its new fund, LeapFrog is set to impact over 100 million people, focusing on initiatives that foster economic resilience and access to essential services.

Among its early investments is Sun King, a Kenyan solar energy company providing affordable off-grid solutions to households across Africa. 

Sun King has delivered solar energy access to 118 million people, reducing reliance on costly and environmentally harmful energy sources like kerosene.

Beyond financial services and healthcare, LeapFrog has also launched a $500 million climate-focused initiative, addressing environmental challenges in its core markets by funding green technologies and sustainable businesses.

Feature Image Credit: UrbanGeekz