LeapFrog Investments, with backing from George Soros and JPMorgan, has raised $400 million for investments in Africa and Asia. This is the largest ever raising of money for a fund focused on developing economies. The amount was three times more than the first rise, signaling the popularity of emerging markets investing.
LeapFrog provides insurance, payment services and pensions for those who make less than $10 a day. It takes certain risks to improve the lot of many, and insures those who suffer from HIV through Africa’s All Life. JPMorgan and the think tank Global Impact Investing estimate there may be $46 billion of assets under management. The fund is showing a 40.6% growth in operating revenue and a 39% rise in profitability last year.
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