Business Wire

In Impact Investing First, LeapFrog Announces Audit on Impact Principles, Achieving Top Rating

Share

LeapFrog Investments today became the first impact investor globally to announce the results of an independent audit of its impact against the Operating Principles for Impact Management, new industry standards developed by the IFC in consultation with leading impact investors and other stakeholders. Launched in April, the Principles provide common disciplines for management of investments for impact, helping to ensure authenticity and high standards of measurement. In the independent audit by Tideline, a leading US impact advisory consultancy, LeapFrog was assessed as an “Exemplification of industry best practice,” with its Impact Measurement and Management (IMM) system achieving “an advanced level of alignment across the board for all nine of the Principles.” Tideline concluded that “LeapFrog’s IMM comprehensively addresses and exceeds the implementation guidance provided by the IFC and has been refined and strengthened over the course of several funds.”

“The impact investing industry needs authenticity and accountability now more than ever. So we have again taken the first leap, publicly, hoping others swiftly will join us,” said Dr Andrew Kuper, Founder and CEO of LeapFrog Investments. “Since our founding in 2007, LeapFrog has worked hard to be a field-defining leader in impact measurement and management. It hasn’t always been easy, requiring inventiveness and discipline in our investment process from beginning to end. We are pleased to have those efforts independently validated today. Ultimately, it has allowed us to demonstrate that businesses can achieve strong profits thanks to social impact, in turn rendering that impact more scalable and sustainable.”

Today, LeapFrog’s 26 companies reach 188 million people with healthcare or financial services, across 35 countries. 155 million of those individuals are emerging consumers in Africa and Asia, living on less than $10 per day per person in the household. At the same time, LeapFrog’s Profit with Purpose investment strategy has seen its companies grow on average by 35 per cent per year since investment, enabling a host of profitable exits to strategic buyers. Global investors have committed over US $1.5 billion to the firm.

Tideline, the consulting firm that conducted the audit, was selected based on its market-leading experience in developing impact measurement and management systems for prominent investors. “We reviewed thousands of pages of investment policies, tools, memoranda, data inputs and impact performance reporting. LeapFrog sets a high bar,” said Ben Thornley, Managing Partner of Tideline. Tideline assessed both the extent of alignment with the IFC's guidance for the Principles and the degree to which the group components of the system are implemented authentically in practice. LeapFrog was assessed as having an “Advanced” practice of impact management for each of the nine Principles, which is Tideline’s top rating.

LeapFrog played a key consultative role on the development of the Operating Principles, which are now endorsed by many of the world’s largest and leading asset managers.

“LeapFrog’s passion for mobilising capital in order to both unlock value and drive better social outcomes through impact investing is something we deeply share,“ said Gary Brader, Group Chief Investment Officer of global insurer QBE, a repeat LeapFrog investor. “LeapFrog’s leadership in both contributing to the development of the Principles and being the first to announce an audit against them demonstrates the group’s continued dedication to accountability, authenticity and field leadership.”

LeapFrog shared with the IFC and the industry a decade of measurement experience based on the development of FIIRM, LeapFrog’s proprietary measurement framework which encompasses financial, impact, innovation and risk management factors. Across the private equity investment cycle, FIIRM incorporates key performance indicators, both financial and operational, as well as governance indices, which are benchmarked to global best practice. The results of the audit highlight the firm’s strength in integrating impact considerations consistently throughout the investment process including clear protocols and standardized reporting.

LeapFrog is actively leveraging Tideline’s insights to strengthen further the Profit with Purpose strategy. Asked where LeapFrog could improve, Tideline identified the further institutionalization of the firm’s Responsible Exits Framework, itself an innovation that advanced the industry. This framework leads to consideration of customers and employees as well as shareholders prior to a company being sold.

LeapFrog will be publishing a formal public disclosure statement and share its learnings from the audit process with the wider industry. The firm will use also its role as an Advisory Board member to work with the Secretariat on implementation and evolution of the Principles.

LeapFrog’s third fund recently surged past its $600 million target to reach a final close of $743 million. Investors in the new fund included leading insurers such as Prudential Financial, AXA XL, QBE, and Zurich; pensions and asset managers such as TIAA-Nuveen and Partners Group Impact; development finance institutions such as DEG, EIB, IFC, Proparco and OPIC; and family offices and foundations including the Ford Foundation and Rockefeller Foundation.

LeapFrog has also publicly announced its aim to deliver essential services to 1 billion people by 2030. “With so many people lamenting the failures of narrow forms of capitalism, the evidence is here for a better norm: Profit with Purpose,” concluded Dr Kuper. “It’s time to trust investors who say they are contributing to such a brighter future – but also to verify.”

About LeapFrog Investments

LeapFrog invests in extraordinary businesses in Africa and Asia, partnering with their leaders to achieve leaps of growth, profitability and impact. Founded in 2007, LeapFrog’s companies now reach 188 million people across 35 countries with healthcare or financial services. 155 million of those individuals are emerging consumers, and most are accessing quality insurance, savings, pensions, credit or healthcare for the first time. LeapFrog companies have grown on average by 35 per cent per year since investment. They now provide jobs and livelihoods to over 128,000 people. By 2017, LeapFrog was ranked by Fortune as one of the top five Companies to Change the World, alongside Apple and Novartis, becoming the first private investment firm ever listed. www.leapfroginvest.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Laura Kemp-Pedersen
Chief Marketing Officer
Laurakemp-pedersen@leapfroginvest.com
+447585760245

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation

Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release

Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private

Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding

Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår

V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release

V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust

Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release

Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo

World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye