[Microinsurancefocus] LeapFrog News

[Véronique Faber - ADA]

For your information

 

From: Andrew Kuper [mailto:team at leapfroginvest.com] 
Sent: mercredi 16 septembre 2009 16:30
To: Véronique Faber - ADA
Subject: LeapFrog News

 

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September 2009   

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Friends,

It has been an extraordinary few months for LeapFrog. We launched the world's first microinsurance fund, raising $44 million from a diverse set of public and private investors – a landmark achievement for microfinance and social investment.

The LeapFrog Financial Inclusion Fund was covered by media across four continents, including Bloomberg, CNBC, Reuters and The Financial Times. We were chosen as a Featured Commitment of the Clinton Global Initiative and filmed by BigThink.

We opened our Asia office, based in Sydney, with an initial focus on making investments in Indonesia, the Philippines, India, and Pakistan. Our Africa office moved to new premises in Johannesburg, and intensified our focus on South Africa, Kenya, Ghana, and Uganda. We also welcomed to the team our new General Counsel, Tom Brunner, one of the world's leading insurance and reinsurance lawyers.

At a time of strong headwinds for private equity and financial services firms, we are excited to be growing, hiring, and seeking out new investment opportunities.

Our profit-with-purpose targets are unchanged: generate strong returns while reaching 25 million needy people, 15 million of them women and children, with life-changing financial services.

We have shared more in-depth coverage of these exciting initiatives below, and at www.leapfroginvest.com.

Never has there been a greater need for creative and sustainable capitalism. We are glad to be playing our part, and deeply thankful for the support of so many good people.

Warmest wishes,

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In this edition:   

 



Media Coverage of Initial Close



New Asia and Africa Offices



Welcome Tom Brunner



Hiring a New Principal



Seeking Invest- ments 



Clinton Global Initiative

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Andy & the LeapFrog team

P.S. I have been invited to speak alongside President Clinton at the Closing Plenary of the Clinton Global Initiative 2009 Annual Meeting. We'll be talking about LeapFrog's achievements this past year. You can watch the Finale live at 1pm EST on Friday September 25th.

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LeapFrog launches world's first microinsurance fund


The Launch of the LeapFrog Financial Inclusion Fund has earned widespread recognition from Bloomberg <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.bloomberg.com/apps/news--Q-pid--E-20601103--A-sid--E-ansBkw4RKNBg> , CNBC <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.leapfroginvest.com/show_video.php> , Reuters <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--in.reuters.com/article/indiaDeals/idINIndia-40404920090617> , The Financial Times and print and broadcast media across four continents.

BLOOMBERG reported on the June launch of the fund:

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"EBay Inc. founder Pierre Omidyar and Calvert Group Ltd. are among backers of a $44 million investment fund designed to show that firms can profit from selling insurance to the world's poorest people.The LeapFrog Financial Inclusion Fund, launching today in Luxembourg, also attracted investments from the European Investment Bank and Netherlands Development Finance Co. The fund expects to invest in, or partner with, businesses that sell policies in countries including India, Pakistan, South Africa and Uganda with the aim of helping customers protect their families and their assets from calamity..."

Other leading investors include Accion International and Triodos Bank. LeapFrog was filmed by BigThink <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--bigthink.com/andrewkuper/andrew-kuper-introduces-leapfrog-investments> and honored as a Featured Commitment <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.clintonglobalinitiative.org/commitments/commitments_feature_leapfrog.asp>  of the Clinton Global Initiative:

"Microinsurance is one of the most unexplored markets and yet one of the greatest needs of the 21st century. In wealthy and poor countries alike, millions of uninsured people lie awake at night worrying about what will happen to their families or businesses in the event of an unanticipated shock such as a flood or family illness. While many of these households are both willing and able to pay for a basic safety net, most do not have access to affordable and quality insurance services… What would it take to unlock this vast opportunity? One firm is already answering this question with action at an unprecedented level: LeapFrog Investments… LeapFrog can be seen as the epitome of creative capitalism, blending for-profit drive with the ability to promote social good on a massive scale."

To watch videos of LeapFrog principals in the media, or read more coverage, click on the links above or visit our news page at www.leapfroginvest.com/news.php

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New Asia and Africa offices

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In August, LeapFrog's president and founder, Andy Kuper, opened LeapFrog's new Asia office. Based in Sydney, Andy and the growing Asia team will source and manage investments initially in Indonesia, the Philippines, India and Pakistan – large markets where microinsurance is much needed.

LeapFrog's Africa office also grew and moved premises to Melrose Arch, Johannesburg. The team – led by principals Gary Herbert, Dominic Liber, and Doug Lacey – has found exciting opportunities in several countries, and we remain convinced by the extraordinary people we meet every day that the financial world generally underestimates local African talent and innovation.

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LeapFrog welcomes Tom Brunner

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We are thrilled to welcome Tom Brunner to the LeapFrog team as General Counsel. Tom is widely recognized as one of "America's Leading Business Lawyers" (Chambers USA; Best Lawyers in America; Lawdragon; Who's Who) and one of "the World's Leading Insurance and Reinsurance Lawyers" (Legal Media Group; International Who's Who of Business Lawyers). He also serves as Chair of the Insurance Practice at Wiley Rein LLC. Over 25 years, Tom has been counsel to numerous insurers and insurance industry organizations – including on mergers and acquisitions, professional liability, and reinsurance – and overseen due diligences and regulatory compliance in international insurance private equity transactions. This deep experience is already proving invaluable to us.

To read more about our team visit www.leapfroginvest.com/people.php <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.leapfroginvest.com/people.php> 

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Seeking new investment opportunities


LeapFrog is expanding its search for investments in microinsurance and related financial services businesses in Africa and Asia. These businesses serve, or could serve, market segments that are typically financially excluded such as low-income clients or those with disabilities or pre-existing illnesses.

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We consider investments in businesses that are risk-bearing such as insurance companies as well as businesses that play a role in the management and distribution of insurance such as third party administrators or microfinance institutions. Our typical investments are between US $5 million and US $8 million, though we are open to partnering on larger investments with other firms including funds, banks, and insurers. All our portfolio companies will be selected and monitored with an expectation of strong performance against clear financial and social impact metrics.

To read more about our investment approach visit www.leapfroginvest.com/investment.php

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Hiring Principal for Asia Office

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LeapFrog is hiring a Principal to co-lead our Asia office, developing and managing investments in countries including India, Pakistan, Indonesia and the Philippines. We are seeking experienced candidates with a strong background in private equity or a closely related area, and with demonstrated sourcing, due diligence, deal negotiation, and exit skills. They will be based in Sydney. They will have a background either in insurance or investments in Asia, or both. We welcome referrals, and qualified candidates should submit a CV and short letter of motivation to Ariel Stern via email: arielstern at leapfroginvest.com <mailto:arielstern at leapfroginvest.com> .

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LeapFrog invited to speak at Finale of the Clinton Global Initiative 2009


Attended by over 1,000 global leaders and over 1,000 members of the press, CGI's Fifth Annual Meeting will offer LeapFrog an unparalleled opportunity to draw the world's attention to microinsurance and profit-with-purpose investing:

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"I am pleased to invite you to speak, alongside President Clinton, during the Closing Plenary of the Clinton Global Initiative's Fifth Year Annual Meeting on Friday September 25th, 2009 in New York... highlighting LeapFrog Investments' achievements over this past year and sketching the important strides you are taking towards insuring the world's poor...

We would be delighted to showcase your efforts, and highlight the diverse ways in which LeapFrog's profit-with-purpose mission will improve the lives of disadvantaged communities in the developing world."

To read more about the CGI visit www.clintonglobalinitiative.org. To watch Andy Kuper and President Clinton speak live at the Finale, visit the Clinton Global Initiative's Events Broadcast Page <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.clintonglobalinitiative.org/newsmedia/newsmedia_media_broadcasts.asp--Q-Section--E-NewsMedia--A-PageTitle--E-Event%20Broadcasts>  on Friday September 25th at 1pm EST.

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You have received this newsletter as a friend or colleague of the LeapFrog team, or a co-attendee of leading conferences. To unsubscribe, click here <https://www.wmail.com.au/box.php?funcml=unsub2&nl=171&mi=1007&email=veronique.ada%40microfinance.lu> . If you received this email indirectly, click here <https://www.wmail.com.au/lt/t_go.php?i=1007&e=NTQ5MDUx&l=-http--www.wmail.com.au/leapfrog/signup.html>  to subscribe.

 


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