LeapFrog III (IFC-39431)

Regions
  • Africa
  • East Asia and Pacific
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 15, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Leapfrog Emerging Consumer Fund III LP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 26, 2018

Disclosed by Bank Apr 6, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC website, LeapFrog Emerging Consumer Fund III, LLC is a ten-year closed-end private equity fund with priority sectors that focus on the emerging consumer. The Fund is seeking to raise third party commitments to make mid-market growth capital investments into financial services and healthcare investments that target Africa, South Asia and Southeast Asia. The Fund will make equity and quasi-equity investments averaging US$25 to 30 million, with one-third of the Fund focused on the healthcare segment and two-thirds on financial services investments. The Fund will be managed by LeapFrog Investments Group, a growth capital and profit-with-purpose investor with an emerging consumer strategy and demonstrable proprietary pipeline and local networks.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Fund Manager is LeapFrog Investments Group, a global growth capital and social-purpose investor with an emerging consumer strategy with portfolio companies in Sub-Saharan Africa, South Asia and Southeast Asia. The LeapFrog portfolio investments have reached over 91 million people, of which over 74 million are low-income. LeapFrog has made 18 investments with operations in 21 countries, and the Fund will be leaning on lessons learned from predecessor funds. The leadership team is comprised of former managing directors of impact and financial services companies, and emerging market experts, with a senior investment team that has 250 combined years of financial services and healthcare experience. The team is based in South Africa, Singapore and the UK. Dr. Andrew Kuper (founder and CEO) was one of the pioneers of the ‘profit with purpose’ business model, and has proven entrepreneurship and investment experience.

LeapFrog Emerging Consumer Fund III, LLC is a ten-year closed-end private equity fund with priority sectors that focus on the emerging consumer.

 


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Nick Moon
Partner, LeapFrog Investments Group 
Telephone No.: +44 131 297 7415
Email Address: nickmoon@leapfroginvest.com
Website: leapfroginvest.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works