LeapFrog Emerging Consumer Fund III (2021)
Primary impact area | Impact area | Geographic location of impact | Investment commencement | SDG alignment |
Social | Financial Inclusion & healthcare | Asia and Africa - Emerging Markets | 2018 |
![]()
|
Rapid developments in Africa and Asia have impacted the dynamics of global markets. Billions of emerging consumers are now joining the global economy, without access to many of the basic services required for success.
The global COVID-19 pandemic has made expanding equitable access to healthcare services, financial inclusion and insurance in emerging markets even more crucial, with digital technology becoming increasingly important in bridging the gap.
LeapFrog Emerging Consumer Fund III is helping to meet these growing needs at scale by investing in companies that provide essential financial and health services across developing countries. Currently, LeapFrog companies reach over 221 million people.
QBE, through Premiums4Good, is an investor in the USD 743m fund, joining a number of investors across the globe in the Fund’s mission to change lives in communities in countries like Kenya, Nigeria, Ghana, South Africa, India, Indonesia, Vietnam, the Philippines and Sri Lanka.
The Fund’s investments to date include BIMA Mobile, a mobile-delivered health and insurance provider for underserved families in emerging markets; and PT PasarPolis, an insurtech company in South East Asia.
The Fund has also made investments in East African healthcare provider Goodlife Pharmacy, which provides diagnostics and basic health care in communities where public healthcare is limited; as well as Ascent Meditech, a business that manufactures and delivers orthopaedic products across India.
The Fund has also invested in WorldRemit, which enables fast and secure international money transfers; and NeoGrowth, a digitally enabled financial company that provides business loans and insurance in India.
Through these investments and additional opportunities, the Fund strives to impact the lives of millions of people as well as to generate robust financial returns for investors. By investing in the provision of essential services, the Fund is also a powerful enabler of financial inclusion and access to healthcare.
It supports the elimination of poverty, contributes to healthier, more productive communities and helps drive economic success.
Significantly, the Fund reached 67 million consumers across Asia and Africa in 2020.
Impact
In 2020, the LeapFrog portfolio companies collectively reached 221 million people and households, of whom 167 million were women and children. Of those reached, 175 million were classified as emerging consumers, expanding access to financial and health products in this underserved category.
The Fund’s portfolio companies reached 67 million people, including over 52 million emerging consumers and households with expanded access to traditional and micro-insurance products providing confidence and peace of mind.
LeapFrog portfolio companies supported 130,000 quality jobs in total and more than 34,000 of these full-time. In 2020, 41% of all direct customers to LeapFrog companies were women.