Mauritius-based private equity firm LeapFrog Investments has secured $700 in financing for its third emerging markets-focused impact fund.
Surpassing its initial target of $600 million, the new fund raised the funds from Prudential, pensions and asset managers such as Ascension Capital, Pinebridge among others.
With the latest financing, the vehicle will further target investments in healthcare and financial services companies, tapping into the demand of billions of emerging consumers in Asia and Africa.
The new financing in the new fund, which seeks to reach 70 million emerging consumers, brings LeapFrog's total commitments raised to date to $1.6 billion.