The strategic partnership will take the form of a multi-fund investment by Temasek to anchor LeapFrog’s future funds.
Temasek will also take a minority stake in LeapFrog and provide growth capital to support the expansion of the LeapFrog team and investment capabilities across Asia and Africa.
LeapFrog and its investment process will continue to be managed and controlled by its team of partners, led by Dr Andy Kuper, Founder and CEO, with Temasek taking one non-executive seat on LeapFrog’s Management Board.
The partnership will see LeapFrog having received over USD $2 billion from global institutional investors since inception. Portfolio companies now reach 212 million people with healthcare or financial services, and directly provide employment to over 130,000 people. Among its current companies are WorldRemit, a cross-border digital payments company, GoodLife, a large pharmacy chain and healthcare provider in Africa, and BIMA, the digital insurance and tele-health provider across global growth markets.
The firm has also scaled companies that have then been sold to the likes of Prudential Plc, Allianz X, Swiss Re, Fidelity’s Eight Roads and Standard Chartered.