Leap Frog Investments, a private equity fund that specializes in the insurance industry said it is looking for opportunities in Indonesia’s Takaful sector.
“We are really looking for a partner in Indonesia and we hope to make an investment soon depending on what
opportunities we get,” Doug Lacey, partner at LeapFrog, told The Islamic Globe. The $135m private equity
fund was set up in 2009 by several organizations including International Finance Corporation, Soros
Fund Management, Flagstone Reinsurance, KfW of Germany and FMO of Netherlands among others. (full story)
It utilizes the model of ‘patient capital’, targeting investments that give smaller returns and have immediate social impact. The company invests in equity, securing seats on the board and providing expertise in the new partners. LeapFrog’s dual aims are to deliver strong returns for its investors and to bring affordable insurance to 25m low-income and vulnerable people in Africa and Asia.
It exits from the companies after a maximum seven years and a minimum of four years. So far, it has invested in AllLife Insurance, a South African company that only insures people with HIV/AIDS and in Kenya’s APA Insurance’s micro insurance arm.
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