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LeapFrog Investments , a secret equity firm that is sharp on the fiscal and health care sector , plans to lift $ 1 billion for a new fund targeting business in “ planetary outgrowth markets , ” including Africa .
The Emerging Consumer Fund IV is go under to hold a net close in February next year having already batten the backing of several institutional investor , let in the European Investment Bank ( EIB ) and World Bank ’s IFC , which have committed $ 60 million and $ 50 million , respectively .
Other Fund IV limited partners ( LPs ) include U.S.-based fiscal service company Prudential Financials and Hong Kong - based insurer AIA Group , which have made multi - fund investment of $ 500 million and $ 200 million , respectively . Singapore - based investment business firm Temasek in 2021 commit $ 500 million to the house ’s funds including the current one .
LeapFrog say it will make initial investiture of between $ 30 million and $ 70 million in 18 to 20 high - growth business organisation . It will target healthcare and financial services businesses in Africa , where it will allocate about 40 % of the funding according todisclosuresby the IFC . It is also eyeing investments in South Asia and Southeast Asia .
Leapfrog ’s global point of external affairs Daniel Stacey told TechCrunch : “ The Fund will seek to take controller - oriented significant nonage or majority stakes in 18 - 20 opportunities . An investment funds by LeapFrog is a committedness to truthful partnership . We actively employ our knowledge and experience , along with our upper-case letter , to abide the leaders team and boards of the businesses we back , including through follow - on financing . We help leaders and owners to meet their ambitious growth , lucrativeness and impact targets . ”
The PE firm began deploy the investment company IV last yr and has so far seat in Sun King , one of the largest off - grid solar energy company in Africa , which raised$330 million serial Dlast class . Sun King offer pay - as - you - go solutionsfor arrangement that power lights , peregrine phones and home appliances like TVs . monetary fund IV has also invest in India ’s mobile diagnostics chain , Redcliffe Labs , and insurtech unicornbolttech .
In Africa , LeapFrog ’s other portfolio company admit South African fintechJumo , Nigerian payments companyInterswitch , Kenyan mountain chain chemist’s Goodlife pharmacy and Pyramid Group , a cardiac and orthopedic equipment allocator .
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The financial Robert William Service companies targeted by the firm include those in life insurance and wealthiness management , banking and quotation , or those offering digital financial services . In the healthcare sphere , LeapFrog is keen on nosology , health and inveterate care managers , retail apothecary’s shop , single - specialty providers , manufacturing and dispersion of medical devices and digital wellness , according to the disclosures .
Stacey says the PE firm has over the last 15 years focused on impact invest to help low - income consumers build honest lives , with an initial centering on financial inclusion body , before including health care six years ago . He added that the firm see growing opportunities in these sectors .
“ The unbelievable penetration of smartphones across low - income populations , combine with falling data prices , has serve to lather costs and speed up growth across digital financial service in our central markets . alike , the healthcare story has win urging in late years across the develop humanity , as an epidemic of modus vivendi link up diseases go to revolutions in consumer healthcare and preventative medicament , all speed up by improvement in digital dispersion and AI - punt treatment models , ” he said .
“ These are trillion - dollar opportunities , and we see the runway for growth broaden across many decades . ”
Why PE business firm Alitheia is banking on women in Africa
