Temasek, LeapFrog Investments forge $500mn partnership

Temasek, an investment company headquartered in Singapore, on Tuesday said it has entered into a USD 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 LeapFrogs future funds, a statement said.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, it added.

Temasek, an investment company headquartered in Singapore, on Tuesday said it has entered into a USD 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, a statement said.

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, it added. 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.

''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,'' Benoit Valentin, Head of Impact Investing at Temasek, said.

The 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 communities, Valentin said.

Since inception, LeapFrog has received over USD 2 billion from global institutional investors, including the latest partnership.

Across LeapFrog's four private equity funds, its companies have grown on average at 30 per cent per year. LeapFrog companies now reach 212 million people with healthcare or financial services, and directly provide employment to over 130,000 people. ''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 USD 715 billion and is projected to grow to up to USD 26 trillion,'' Andy Kuper, Founder and CEO of LeapFrog, said.

LeapFrog has scaled digital companies that have then been sold to the likes of Prudential Plc, Allianz X, Swiss Re, Fidelity's Eight Roads and Standard Chartered. Among its current companies are WorldRemit (cross-border digital payments company), GoodLife (pharmacy chains and healthcare provider in Africa), and BIMA (digital insurance and tele-health provider across global growth markets).

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