407 0 million
People reached through our companies
27 0 % annual
Average portfolio company growth
$ 3.6 0 billion
Total revenue across our portfolio
200,000 0
Jobs & Livelihoods supported in 30 countries
Our 2021 Impact Results
10x Impact
LeapFrog’s companies reach 342 million people with healthcare or financial tools, 250 million of whom are lower income consumers, living on less than $11.20 a day. This is 10x our original target of 25 million emerging consumers and over 5% of the world’s low income population.
The results demonstrate the commercial outperformance of Profit with Purpose strategies. Across both healthcare and financial services industries, and in all investment regions, LeapFrog companies have significantly outperformed relevant benchmarks.


Excellent investors with an impact soul
Defining a new era of impact investing
Case Study
Vietnam’s engine for MSME credit growth: HDBank
Vietnam has a thriving micro, small and medium enterprise (MSME) sector, that employs 50% of the adult working population, and has helped raise over 40 million people out of poverty since the 1990s. However, low banking penetration rates mean many small businesses rely on informal loans, often from money lenders.
This flourishing market for “black credit” can push people back into poverty, rather than raise them out of it. HDBank, a top-tier Vietnamese commercial and retail bank, is helping to tackle this problem with a suite of innovative digital products and a growing agent network that already covers all 63 cities and provinces.

