LeapFrog announces fundraising close for fourth fund
The fundraise includes $808 million of primary fund commitments.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
LeapFrog Investments has announced the close of its fourth fund (Fund IV), with commitments and designated co-investments totalling $1.02 billion. LeapFrog’s initial target for Fund IV was $1 billion.
The fundraise includes $808 million of primary fund commitments and up to $210 million of pre-allocated co-investment to accelerate high-impact healthcare and financial services companies in global growth markets.
Cornerstone investors in LeapFrog’s latest fund include limited partners such as Temasek, AIA, Prudential Financial, and development financial institutions, including the European Investment Bank and the U.S. International Development Finance Corporation. LeapFrog also drew commitments from global asset managers such as Sumitomo Mitsui Trust Bank and Van Lanschot Kempen, healthcare strategic investor Eli Lilly and Company, and foundations and endowments such as the Ford Foundation and the IMAS Foundation.
Andy Kuper, founder and CEO of LeapFrog Investments, said: “What LeapFrog’s team has achieved in this fundraising cycle is phenomenal, attracting world-class institutional investors, many from new markets, to our distinctive profit with purpose strategies. Recent years have seen one of the most challenging fundraising cycles for private equity this century, with capital raised in 2023 the lowest in the past six years. Yet LeapFrog has been able to distinguish itself through deep local sourcing and industry insight, distinctive value creation, authentic impact management and ultimately robust results. We will continue to build this magnet for forward-looking global investors. Together, we are in a unique position to pursue strong returns and positively change millions of lives.”
Dominic Barton, chairman of LeapFrog Investments, said: “LeapFrog’s mission is underpinned by our committed, commercially astute, and socially responsible limited partners. We want to thank those investors today for putting their faith in the LeapFrog team to deliver strong risk-adjusted returns across exciting, innovative businesses in high-growth markets. Fund IV will be instrumental in scaling the impact champions of the future in financial services and healthcare, as well as building future prosperity and economic resilience for emerging consumers.”
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here