Temasek and LeapFrog Investments in $500m partnership
Temasek, an investment company headquartered in Singapore, has entered into a $500 million strategic partnership with global impact investment group LeapFrog Investments.
The strategic partnership will take the form of a multi-fund investment by Temasek to anchor LeapFrog’s future funds. Temasek will also take a minority stake in LeapFrog and provide growth capital to support the expansion of the LeapFrog team and investment capabilities across Asia and Africa. LeapFrog and its investment process will continue to be managed and controlled by its team of partners, with Temasek taking one non-executive seat on LeapFrog’s management board.
Benoit Valentin, head, impact investing at Temasek said, “There is an urgent and pressing need to address the critical social and environmental challenges that the world is facing. We believe in the potential of impact investing to unlock the capital to meet these challenges. Our partnership with LeapFrog, with its focus on serving underserved markets, underscores Temasek’s commitment to investing for impact, and the contributions these investments make towards shaping a better world for our communities.”
Dr Andy Kuper, founder and CEO of LeapFrog explained, “When we launched LeapFrog, the impact industry did not exist, but we believed that profit with purpose was the future of business and investment. For almost 15 years, we have worked to build a values-driven firm, co-creating a thriving industry that now stands at $715 billion and is projected to grow to up to $26 trillion. Through this landmark commitment, Temasek joins in our vision to build an enduring and exemplary investment institution. We will continue to open the gates of the capital markets to purpose-driven businesses.”
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