LeapFrog companies grow 29% and reach 82 million people
“It is good business to serve billions of emerging consumers. After decades of being ignored and misunderstood, 4 billion people are rising, connected via mobile phones to the global economy, and are demanding relevant goods and services. The companies that serve this historic opportunity are doing phenomenally well.”
Andrew Kuper, Founder and CEO of LeapFrog Investments
London, 14 April 2016
LeapFrog Investments today announced its annual results, demonstrating unprecedented success and scale for profit-with-purpose businesses.
LeapFrog’s portfolio of companies grew revenue at 28.8% on average in 2015. This figure compares to real GDP growth of 4% in emerging markets, and 1.9% in developed economies.
LeapFrog companies have now reached 82.3 million people with financial services or healthcare, across 21 countries. Over 65 million of those people are emerging consumers in Africa and Asia, under-served and living on less than $10 per day. Many are gaining access to essential services for the first time.
Founder and CEO Dr. Andrew Kuper commented, “LeapFrog’s sustained growth and track record proves yet again: It is good business to serve billions of emerging consumers. After decades of being ignored and misunderstood, 4 billion people are rising, connected via mobile phones to the global economy, and are demanding relevant goods and services. The companies that serve this historic opportunity are doing phenomenally well.”
LeapFrog operates a multi-specialist investment strategy, investing in companies spanning insurance, savings, pension, credit and healthcare. All these tools build security and prosperity for emerging consumers.
Of the 38.3 million additional people reached by LeapFrog companies in the year, 21.1 million were via organic growth and acquisitions, while 17.2 million were counted for the first time as LeapFrog expanded its reach into wider financial services.
LeapFrog companies also provided employment to over 98,000 people.
Global institutional investors have now committed over $1 billion to management by LeapFrog, including AIG, AXA, CDC, EIB, FMO, MetLife, Partner Re, Prudential Financial Inc., RGA, Swiss Re, TIAA-CREF and Zurich, among others.
Prudential Financial Inc. recently announced a $350m partnership with LeapFrog to invest in leading life insurers in Africa. The Overseas Private Investment Corporation (OPIC) also recently approved a commitment of up to $200m to future healthcare and financial services investments by LeapFrog in Asia and Africa.