LeapFrog Investments seeks to make minority and majority growth investments in companies operating in Africa and South and Southeast Asia that provide relevant, affordable and high-quality financial and healthcare products and services to emerging consumers. With a focus on the emerging consumer and with integrated financial and social goals, LeapFrog continues to invest in the rise of a new emerging consumer class, who are the nearly 4 billion low-income people globally earning between USD 2 and USD 10 per person per day. In making fund investments, LeapFrog is guided by 2 overarching objectives based on our profit-with-purpose model: achieving top quartlile financial returns and fulfilling the declared social targets of the fund. For Fund I the declared goal was reaching 25 million emerging consumers and households, followed by Fund II's goal of reaching a combined 50 million low income people across Africa and Asia.
All ESG factors and real economy impact are outlined in the form of policies in LeapFrog’s Responsible Investment Code (RIC). The RIC is formally adopted (in shareholder agreements) by all portfolio companies. The RIC requires a dedication to improving environmental outcomes where possible and adherence to an exclusion list promoting conservation and long term sustainability.