The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently committed to investing up to USD 200 million in equity in Leapfrog Investments, a for-profit private equity fund based in Mauritius. LeapFrog Investments will utilize the funding to invest in healthcare companies in Africa and Asia.
Dr Andrew Kuper, the Founder and CEO of LeapFrog Investments, said, “OPIC’s vision and capital are a magnet for other leading institutions, revealing how to invest in companies that reach billions of underserved consumers. The greatest financial and social opportunity of our era is to serve these real needs, tapping vast new markets, and achieving profit with purpose.”
As of September 2014, OPIC reported total assets of USD 8.9 billion. LeapFrog Investments, which reports commitments of approximately USD 1 billion as of January 2016, invests in companies that serve people in Africa and Asia who earn low incomes.
By Kevin van den Brink, Research Associate
About LeapFrog Investments
LeapFrog Investments, which was founded in 2007 and is based in Mauritius, invests in businesses in Africa and Asia that serve “emerging consumers, often accessing insurance, savings, pensions or credit for the first time.” Its investees serve 51 million people in 21 markets. It has garnered approximately USD 1 billion in investor commitments as of March 2016.
About Overseas Private Investment Corporation (OPIC)
The Overseas Private Investment Corporation (OPIC) is an agency of the US government that was established in 1971 as a development finance institution. OPIC works with private-sector firms to identify opportunities in emerging markets and create an enabling environment for private enterprise in developing countries. OPIC provides financing through direct loans as well as guarantees, political risk insurance and investment funds. As of September 2014, OPIC reported total assets of USD 8.9 billion.
Sources and Additional Resources
[1] LeapFrog Investments, News, “OPIC commits up to $200m to LeapFrog Investments”
MicroCapital Universe Profile: LeapFrog Investments
MicroCapital Universe Profile: Overseas Private Investment Corporation (OPIC)
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