LeapFrog Investments Raises Record $1.15 Billion for Impact Fund

Andy Kuper, LeapFrog CEO

LeapFrog Investments, a global leader in impact investing, has announced the close of its fourth fund, raising $1.15 billion and surpassing its $1 billion target. This marks the largest fundraising achievement in the firm’s 15-year history. The fund will support healthcare, financial services, and climate-focused initiatives in rapidly growing markets across Africa and Asia.

The fund includes $808 million in primary commitments and $210 million in co-investments, backed by institutional giants like Temasek, Prudential Financial, and the European Investment Bank. LeapFrog also gained first-time support from investors in Japan, Singapore, and China, showcasing the expanding global confidence in its “Profit with Purpose” strategy.

CEO Andy Kuper emphasized that raising the fund during a tough economic period highlights the appeal of the firm's dual focus on financial returns and social impact.

LeapFrog's commitment to sustainable development is evident in its investment in Sun King, an off-grid solar energy leader. The company has reached 118 million people in Africa and Asia, delivering affordable solar power, cutting household energy costs, and reducing dependence on harmful fuels like kerosene and diesel.

Source: Launch Base Africa