News & Announcements
Pact invests in LeapFrog fund to broaden access to healthcare and financial services for emerging consumersJune 5, 2019
Pact, an international NGO, has completed an investment as a limited partner in LeapFrog Emerging Consumer Fund III—the only NGO to invest in the Fund. LeapFrog Investments is a global private equity firm focused on impact investing, using its “Profit with Purpose” investment strategy to pursue strong financial returns alongside large-scale impact. LeapFrog’s focus, to address the UN Sustainable Development Goals and ensure emerging consumers living on less than $10 a day have access to essential services, aligns strongly with Pact’s mission of building thriving, resilient communities where those we serve are heard, capable and vibrant.
Through this partnership, Pact aims to support the delivery of financial and healthcare products and services to LeapFrog’s consumers. In addition, Pact hopes to integrate the ideas generated by LeapFrog’s numerous innovative businesses directly into its programs that serve people most-challenged by poverty and marginalization.
LeapFrog founder and CEO, Dr. Andy Kuper said, “We are delighted to have Pact as an investor in this latest fund. Our aligned objective is to open up access to healthcare and financial tools for low-income people in Africa and Asia. The new $700 million fund aims to back companies that reach and empower 70 million emerging consumers. This investment represents an ideal partnership, focused on delivering Profit with Purpose, at scale.”
Pact President & CEO Mark Viso indicated that Pact has come a long way in transforming its business model to deliver the most impact for the people it serves in a short period of time, and this partnership will help forge a path toward broader collaboration with impact-focused investors.
“At Pact, we envision a world where everyone owns their future.To achieve this, we cannot continue business as usual. We have to explore all the tools and resources at our disposal,” said Viso. “By working with partners like LeapFrog, who focus on delivering results directly to the communitieswe serve, we are working toward this vision in new and creative ways. It is the kind of approach it will take to deliver the greatest impact for people and ultimately end poverty in our lifetime.”