Business Wire

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


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.

Contact information

Laura Kemp-Pedersen
Chief Marketing Officer

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(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

LintonPharm Announces Authorization From China Health Authority to Proceed With a Global Phase 3 Trial Evaluating Catumaxomab in Advanced Gastric Cancer15.7.2020 22:30:00 CESTPress release

LintonPharm Co. Ltd., a China-based clinical stage biopharmaceutical company focused on the development of T-cell engaging bispecific antibodies for cancer immunotherapy, today announced the China National Medical Products Administration (NMPA) authorized the company to proceed with a Phase III trial ( NCT04222114) for catumaxomab in patients with peritoneal carcinomatosis, a form of advanced gastric cancer that has spread to the tissue that lines the abdominal cavity. The two-stage, multi-center, open-label, randomized, controlled registrational clinical trial will evaluate the safety and efficacy of an intraperitoneal infusion of the bi-specific antibody catumaxomab into the abdominal cavity in patients with peritoneal carcinomatosis. LintonPharm also recently received Clinical Trial Application (CTA) authorization for the same indication from the Taiwan Ministry of Health and Welfare (MOHW) and the Korea Ministry of Food and Drug Safety (MFDS). “We are excited to

Xerox Launches ConnectKey-Enabled AltaLink Digital Workplace Assistant15.7.2020 18:47:00 CESTPress release

Xerox announced its new Xerox AltaLink® C8100 and Xerox AltaLink B8100 Series multi-function printers (MFPs), that can better support today’s flexible work environment and help companies speed their digital transformation with access to the ConnectKey® ecosystem of apps. This press release features multimedia. View the full release here: The tablet-like user interface allows for easy, familiar interaction or the user can choose to print from their mobile devices. (Photo: Business Wire) In addition to its printing capabilities, the AltaLink 8100 series helps speed workplace digitization with ultra-fast scanning of up to 270 images per minute and Optical

Bureau Veritas Launches a New Solution to Improve Supply Chain Resilience15.7.2020 17:45:00 CESTPress release

Bureau Veritas, a world leader in testing, inspection and certification (TIC) services, is launching Supply-R, a solution designed to meet companies’ new challenges relating to supplier network reliability and ensuring business continuity in all circumstances. Organizations learned multiple lessons during the first half of 2020 on the resilience of global supply chains and their ability to face disruptions. There is an urgent need from many companies to reassess their supply chain risk, based on factual data from the field, to make sure that all elements are properly addressed, assessed and visible. Bruno Ferreyra, Executive Vice-President at Bureau Veritas, commented: "Economic globalization means supply chains include more suppliers and intermediaries than before, and they are scattered around the globe. This makes each step, process and stakeholder in the manufacturing chain harder to track. Our goal is to support businesses, mapping out their supply chains to give them complete con

VALBIOTIS Announces the First Patient First Visit in the International Phase II/III REVERSE-IT Clinical Study on TOTUM-63 to Reduce Type 2 Diabetes Risk Factors15.7.2020 17:40:00 CESTPress release

Regulatory News: VALBIOTIS (Paris:ALVAL) (FR0013254851 - ALVAL, PEA/SME eligible) a Research & Development company committed to scientific innovation for preventing and combating metabolic diseases, announces the First Patient First Visit in the international Phase II/III REVERSE-IT clinical study designed to assess TOTUM-63 for the reduction of Type 2 Diabetes metabolic risk factors. Murielle CAZAUBIEL, member of the Management Board and Director of Development and Medical Affairs at VALBIOTIS, comments: "The first visit of this first subject, a few days after obtaining both ANSM1 approval and the favorable decision from the CPP2, marks the concrete launch of the REVERSE-IT study, the results of which are expected in mid-2022. We are right on schedule and are delighted to be able to enter the operational phase of this major study so quickly. We also welcome the enthusiasm and commitment of all the partner investigation centers." Dr Hans-Juergen WOERLE, Chief Scientific and Medical Off

Octapharma Reports Positive Data from octagam ® Usage in Critically Ill COVID-19 Patients15.7.2020 17:04:00 CESTPress release

Topline results from a retrospective study in 93 critically ill COVID-19 patients have become available. The data shows that IVIG treatment reduces inflammation, which is associated with poor clinical outcomes and death, and points to an increase in survival, in critically ill COVID-19 patients, when compared to a control group. The study was conducted at the Istanbul University Hospital, Turkey, under the lead of Prof. Dr. Figen Esen. In critically ill COVID-19 patients, the cause of death often implicates an abnormal pulmonary immune response. This abnormal immune response is characterized by high levels of inflammatory markers, which are associated with poor clinical outcomes.1, 2 Acute respiratory distress syndrome (ARDS) and multiorgan failure are major causes of mortality in COVID-19 patients.3 High levels of pro-inflammatory cytokines and chemokines are part of a severe inflammatory response known as a “cytokine storm” which may cause multiple organ dysfunction and ARDS in criti

European Commission approves third nintedanib indication in pulmonary fibrosis 115.7.2020 15:34:00 CESTPress release

Boehringer Ingelheim today announced that the European Commission (EC) has approved an additional indication for nintedanib in adults for the treatment of other chronic fibrosing interstitial lung diseases (ILDs) with a progressive phenotype beyond idiopathic pulmonary fibrosis (IPF).1 The approval comes after the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion in May 2020.3 The U.S. Food and Drug Administration (FDA), Health Canada and the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) recently approved nintedanib as the first treatment for the same patient population.4,5,6 Interstitial lung diseases encompass a large group of more than 200 disorders that may involve the threat of pulmonary fibrosis – an irreversible scarring of lung tissue that negatively impacts lung function.7 People living with fibrosing ILD can develop a progressive phenotype, leading to lung function decline, deterioration in quality of life and early mortality simila