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

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

EURid Launches New Eligibility Criteria19.10.2019 04:30:00 CESTPress release

The top-level internet domain .eu is the eighth largest country code extension on the internet and, as of October 2019, we have more than 3.6 million registrations spread out across Europe. Since its launch in 2006, only companies and individuals residing within the EU and EEA member states have been eligible to register the .eu domain name. However, striving to meet the needs of an ever-changing digital environment, the eligibility criteria for the registration of .eu domain name has now been extended to all EU citizens living around the world. With millions of Europeans living around the world – our hope is to provide these individuals, living far from their native lands, with a personal online platform through which they can share their stories with families and friends back home. “We are excited to be able to extend the registration criteria to EU citizens around the world. The .eu domain is now closer to your ambitions, achievements and dreams. It is the bridge connecting you to y

ams to Launch New Takeover Offer for OSRAM at EUR 41.00 Per Share With Minimum Acceptance Threshold of 55%18.10.2019 17:16:00 CESTPress release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION ams (SIX: AMS), a leading worldwide supplier of high performance sensor solutions, announces that it intends to launch a new all-cash takeover offer for OSRAM Licht AG ("OSRAM") for 100% of the share capital of OSRAM at a price of EUR 41.00 per share ("Offer"). The Offer which represents a premium of 42% to the undisturbed OSRAM share price of EUR 28.92 as of 2 July 2019 will be launched by ams Offer GmbH, a newly incorporated, wholly owned subsidiary of ams. ams is the largest shareholder in OSRAM with a direct shareholding of 19.99% which ams will not exceed outside of the Offer. As a result of ams' shareholder position, ams has lowered the minimum acceptance threshold to 55%. Winning way forward for ams and OSRAM The combination of ams and OSRAM allows ams to create a global leader in sensor solutio

Resecurity Appoints Selene Giupponi Managing Director of Resecurity Europe18.10.2019 15:38:00 CESTPress release

Resecurity, a cybersecurity company that delivers in-depth analysis layered on top of the most comprehensive, exclusive sets of data from the Deep and Dark Web, announces that Selene Giupponi has joined as Managing Director and will be based in Italy. A digital forensics expert, Selene adds significant value to Resecurity’s operations in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191018005415/en/ Resecurity Appoints Selene Giupponi Managing Director of Resecurity Europe (Photo: Business Wire) Selene has extensive expertise in digital forensics and is often called as an expert witness regarding digital and mobile forensics on domestic and international cases, investigations and court trials. She is a specialized IT trainer in Italy and teaches digital, mobile, cloud and mainframe forensics, cybercrime and information security at various Italian universities. “Selene brings a depth of experience to our team and we

Secure-24 Completes Acquisition of Symmetry Corporation18.10.2019 14:20:00 CESTPress release

NTT Ltd., the newly formed, world-leading global technology services provider, and Symmetry Holding Inc. (Symmetry), a U.S.-based leading provider of SAP managed services, today announced that Secure-24 Intermediate Holdings, Inc. (Secure-24), part of the Managed Services division of NTT Ltd., has completed the acquisition of Symmetry Corporation effective October 17, 2019. “The powerful business combination of Secure-24 and Symmetry leverages the strengths of both companies around Secure-24’s foundation of delivering managed IT operations, application hosting and cloud services to enterprises worldwide,” said Mike BeDell, Chief Executive Officer, Secure-24. “As we begin to integrate Symmetry’s portfolio into Secure-24’s portfolio, through a shared vision, we look forward to providing even greater value that accelerates our clients’ business success.” Symmetry, headquartered in Brookfield, Wisconsin, will expand the scale of SAP managed services capabilities of Secure-24 and bring new

New Research Reveals Updated Patient Preferences on Digital Health Technology18.10.2019 13:00:00 CESTPress release

ResMed (NYSE: RMD, ASX: RMD) today announced results from a company-led survey, revealing new patient preferences on digital health technology. The survey highlights a reason for optimism that the markets for digital health technology will only continue to grow. The survey of a nationally representative sample of 3,000 Americans, conducted in partnership with Edelman Intelligence, revealed that the use of – and confidence in – remote digital health technology is widespread: 56% of those surveyed currently monitor their health with at least one digital data collection tool. Also, 60% of people attempt to diagnose themselves after browsing symptoms on the Internet – including 76% of Millennials. Perhaps more surprising, remote digital health technology seems to have deepened people’s connection with their physicians rather than distanced them from one another. Over half of those surveyed agree that technology has improved their relationship with their primary care provider, and many woul

CHMP Grants Positive Opinion for Expanded Use of Janssen’s Darzalex®▼(daratumumab) for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible18.10.2019 12:43:00 CESTPress release

The Janssen Pharmaceutical Companies of Johnson & Johnson today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended broadening the existing marketing authorisation for Darzalex® (daratumumab) to include the use of daratumumab in combination with lenalidomide and dexamethasone (DRd) for patients with newly diagnosed multiple myeloma (NDMM) who are ineligible for autologous stem cell transplant (ASCT). “As multiple myeloma can become more complex with each relapse, it is important that patients receive the latest treatment options with the goal of extending their first remission period,” said Professor Thierry Facon, M.D., Service des Maladies du Sang, Hôpital Claude Huriez, Lille, France, and principal investigator of the MAIA study. “For newly diagnosed patients who are transplant ineligible, this regimen could be an important frontline therapy option and reinforces the consistent clinical profile of daratumuma