LeapFrog Emerging Consumer Fund IV, LP (IFC-46735)

Regions
  • World
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
Proposed
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 23, 2022
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 IV LP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
  • 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)
$ 50.00 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 Jun 13, 2022

Disclosed by Bank May 23, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

IFC is considering an investment of up to US$50 million along with a US$50 million co-investment envelope, into LeapFrog Emerging Consumer Fund IV, L.P. (“Fund”), a US$1 billion fund making growth-stage investments in healthcare and financial services businesses in Africa, South Asia and Southeast Asia. The Fund is registered as a limited partnership and it holds a Global Business License (“GBL”) from the Financial Services Commission of the Republic of Mauritius.The Fund will seek to take control-oriented significant minority or majority stakes in 18-20 opportunities with initial tickets typically in the range of between US$30 and US$70 million. The Fund will be investing solely in healthcare and financial services businesses                                              

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 will be managed by LeapFrog Investments Group Ltd (the “Fund Manager”), a private company incorporated under the laws of Mauritius. The Fund’s sponsor is LeapFrog IV Emerging Consumer GP, LP (the “Sponsor”). LeapFrog was founded in January 2007 by Dr. Andrew Kuper, a renowned emerging markets impact investor. Dr. Kuper is supported by a team of 33 investment professionals including 9 investment partners. The Sponsor recently concluded a strategic partnership with Temasek, a global investment company headquartered in Singapore, whereby the latter has acquired a minority stake in LeapFrog and provided growth capital to support the expansion of the LeapFrog team across Asia and Africa.    


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.

LeapFrog Investments
Greg Jones
Head of Investor Relations

investorrelations@leapfroginvest.com
C/o AXIS Fiduciary Ltd, 2nd Floor, The AXIS, 26 Bank Street Cybercity, Ebene 72201, Mauritius
www.leapfroginvest.com

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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