Temasek has taken a minority stake in LeapFrog, having also launched a multi-investment to anchor the impact investor’s future funds.
Benoit Valentin, head of impact investing at Temasek commented the partnership will have a focus on underserved markets.
“There is an urgent and pressing need to address the critical social and environmental challenges that the world is facing,” Mr Valentin said.
“We believe in the potential of impact investing to unlock the capital to meet these challenges.”
With the latest backing, LeapFrog will have received more than US$2 billion from global investors since inception.
The company has reported it reaches 212 million people with healthcare or financial services and provides employment to over 130,000 people.
LeapFrog founder and chief executive Andy Kuper commented the impact industry is projected to grow up to $26 trillion worth, from its current $715 billion.
Global Impact Investing Network CEO and founder Amit Bouri added the commitment from Temasek has reflected a “new level of scale for the global impact investing industry”.
“World-leading investors are prioritising measurable impact alongside financial returns, demonstrating that each can enhance the other,” Mr Bouri said.
“It is imperative that investors step up the scale of capital they are deploying now, to make it possible for billions of people to lead their families, businesses and communities to brighter futures.”
