LeapFrog Raises US$44 Million for World's First Microinsurance Fund

LeapFrog Investments has announced that it has raised US$44 million for the world's first investment fund focused on microinsurance. LeapFrog Financial Inclusion Fund aims to invest in businesses that will bring insurance and financial services to 25 million low-income people in Africa and Asia.

The capital was raised from a diverse set of public and private investors around the world, including the European Investment Bank (EIB), FMO, Omidyar Network, Triodos-Doen, Hivos-Triodos Fund, ACCION International, Calvert Large Cap Growth Fund, wealth manager Felipe Medina, and the LeapFrog team. The team consists of former CEOs and pioneers in insurance and investment in emerging markets.

"The world desperately needs market-based solutions to poverty that draw in major financial investors by offering fair but competitive returns," said Dr. Andrew Kuper, President and Founder of LeapFrog. "The best part about microinsurance is that we can reach millions of people, swiftly. Microinsurance is both profitable and scalable. We can think big. We don't have to choose between money and meaning."

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