Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

LeapFrog Investments raises over $200m for emerging consumer fund, as insurers and asset managers tap new source of growth and profits


News provided by

LeapFrog Investments

09 Sep, 2013, 11:55 GMT

Share this article

Share toX

Share this article

Share toX

* LeapFrog Fund II will focus on eight markets in Africa and Asia where financial services growth is nearly 18% per annum and 4x global nominal GDP growth

* Investors include major insurance groups - Swiss Re, PartnerRe, MetLife Inc., Prudential (USA), XL Group and Achmea - and global banks and asset managers such as JPMorgan Chase & Co. and TIAA-CREF

LONDON, Sept. 9, 2013 /PRNewswire/ -- LeapFrog Investments, the emerging markets fund manager, today announced the initial raise of US$204 million for its second fund. The fund will invest in companies in Africa, South Asia and Southeast Asia that provide financial services such as insurance, savings, pensions and investment products to emerging consumers. Several of the world's largest insurers, reinsurers, banks and asset managers have invested in the first round.

"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 Dr. Andrew Kuper, LeapFrog Investments' President and Founder. "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."

Insurance groups that have invested in the initial raise include MetLife Inc., Prudential (USA), XL Group, Achmea, PartnerRe and Swiss Re. Global banks and asset managers that have committed include JPMorgan Chase & Co., Christian Super and TIAA-CREF. The fund also obtained backing from five of the world's leading development finance institutions: CDC, DEG, the European Investment Bank, FMO, and Oikocredit.

The capital was raised in just eight months. Many participants are repeat investors from LeapFrog's first fund, a US$135m vehicle, with some now doubling or tripling their allocation.

"The emerging consumer represents a striking growth opportunity," said Lata Reddy, Vice President at Prudential [NYSE:PRU]. "Financial services penetration within this segment is low, the need for products is high, and competition is still limited. LeapFrog Investment's differentiated strategy puts it at the forefront of emerging markets private equity. The team has demonstrated that investments in financial services for the emerging consumer can yield performance while transforming communities."

"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 [NYSE:JPM]. "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 have reached over 18 million people across 13 countries with financial products. LeapFrog's track record includes partnering with major brands such as Mahindra IBL and Shriram CCL in India, ARM in Nigeria and Apollo IL in Kenya.

The new fund aims to make equity investments of up to US$60m, and will continue to focus on LeapFrog's priority markets of Indonesia, the Philippines, India, Sri Lanka, Kenya, South Africa, Nigeria and Ghana. Financial services growth in these markets in 2012 was on average 17.4%, over four times nominal global GDP growth, representing a sustained bright spot for emerging markets.

LeapFrog Investments will continue to be guided by a business philosophy of profit-with-purpose, combining strong financial returns with robust social impact. "Crucially, 12 million of the 18 million people our companies have reached so far are emerging consumers, living on less than US$10 per day," said Kuper. "We are demonstrating that smart businesses that provide empowering products actually grow faster and are more competitive than their peers."

About LeapFrog Investments

LeapFrog Investments is an emerging markets funds manager, investing in high-growth companies in Africa and Asia that deliver financial services to the next billion emerging consumers. A specialist investor, LeapFrog focuses on insurance and adjacent financial services such as savings, pensions, and payments, and brings deep operational expertise and value-add to its portfolio companies. In every investment, LeapFrog pursues profit-with-purpose, simultaneously targeting top-tier investment returns and helping to provide low-income people with protective and enabling financial tools. The fund's portfolio companies reach over 18 million people across a range of countries including India, Kenya, Ghana, Nigeria, and South Africa. LeapFrog has attracted several of the world's leading insurers, reinsurers, banks, and funds as investors. For more information, please visit www.leapfroginvest.com.

Media Contacts

Olivia Hanrahan-Soar
LeapFrog Investments
oliviahanrahan@leapfroginvest.com
+61-422-063-925

David Chambers
Hill+Knowlton Strategies
david.chambers@hkstrategies.com
+44-7759-157-673

Disclaimer

This statement does not constitute an offer to sell or a solicitation of an offer to make an investment (the "Investment") in LeapFrog's second fund (the "Fund"). No such offer or solicitation will be made prior to the delivery of a definitive subscription agreement and/or other materials relating to the matters herein. Before making an investment decision with respect to the Investment, potential investors are advised to carefully read the offering materials relating to interests in the Fund. Further, potential investors are advised to consult with their tax, legal and financial advisors before consummating an Investment.

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.