MICROCAPITAL BRIEF: Temasek Commits $500m in Equity to Impact Investor LeapFrog to Boost Financial Services, Healthcare in Africa, Asia

Temasek Holdings, an investment firm owned by the government of Singapore, recently committed USD 500 million to LeapFrog Investments, which is focused on financial and health services in Africa and Asia. Temasek will acquire a minority stake of undisclosed size in LeapFrog and take one seat on its board of directors.

Benoit Valentin, the head of 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… 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…”.

LeapFrog, which was founded in 2007, invests in providers of banking services, finance, insurance, and pensions as well as medical diagnostics, drugs, and other healthcare products. As of 2021, its investees serve 212 million people, of whom 80 percent have low incomes. The firm has garnered approximately USD 2 billion in investor commitments since its inception.

Established in 1974, Temasek is active in financial services, telecommunications, media, technology, transportation, industrials, life sciences, consumer goods, real estate, energy, and natural resources. It has 11 offices in the Americas, Asia, and the UK, and it manages a portfolio of SGD 306 billion (USD 215 billion) as of March 2020.

By Aakansha Shenoy, Research Associate

Sources and Additional Resources

LeapFrog press release
https://leapfroginvest.com/press-releases/temasek-and-leapfrog-investments-forge-us500-million-partnership-largest-ever-commitment-to-an-impact-investor/

Temasek homepage
https://www.temasek.com.sg

LeapFrog homepage
https://leapfroginvest.com

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