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LeapFrog Investments is a specialist investor in emerging markets financial services, with more than $300m under management. The manager invests in financial services firms that focus primarily on emerging consumers in Africa and Asia.
LeapFrog’s portfolio companies currently provide insurance, savings and pensions products to over 18 million people in countries such as India, Indonesia, Sri Lanka, Ghana, Nigeria, Kenya and South Africa. A profit-with-purpose investor, the LeapFrog team partners with companies that pursue social and financial returns. LeapFrog’s investment strategy has attracted several institutional investors: in September 2013, the group raised over US$200 million for the first close of its most recent private equity fund.
LeapFrog invests in companies to help them attain scale, profitability, and impact. Investments include:
AllLife: LeapFrog invested $11.2 million in AllLife, the only South African insurer of people living with HIV/AIDS. Prior to AllLife, many HIV patients in South Africa would be told their lives were uninsurable. But by linking insurance cover to regular medical visits, periodic testing and treatment protocols, AllLife helps people manage their health and ensures that each risk is manageable, measurable and insurable.
Apollo: LeapFrog invested $14 million in Apollo, an insurance group operating in Kenya, Tanzania, and Uganda. It offers life and non-life insurance products through APA Insurance and Apollo Life.
Shriram: LeapFrog invested $15 million in Shriram CCL, which distributes low-cost high-quality financial services including insurance, savings, and investment products to low-income Indians.
Express Life: LeapFrog invested $5.5 million in Express Life Insurance Company, a Ghanaian company providing life insurance and savings.
Mahindra: LeapFrog invested $15 million in Mahindra Insurance Brokers Ltd., with the aim of developing and expanding the firm’s insurance broking business in rural areas of India.
ARMLife: LeapFrog invested $7.5m in ARMLife (previously CrystaLife), in a strategic partnership with Asset and Resource Management Co., Nigeria’s largest non-bank financial company and ARMLife’s majority stakeholder.
Bima: LeapFrog invested $4.3 in Bima, a insurance distribution company providing low-price cover via mobile networks in Africa and Asia, and adding 400,000 new subscribers a month.