LeapFrog Investments has appointed two new partners to lead its portfolio of financial services companies in South and Southeast Asia, according to a company statement.
Michael Fernandes, previous country head of India at Malaysian sovereign wealth fund Khazanah Nasional, will co-lead LeapFrog’s South and Southeast Asian investment team. At Khazanah, Fernandes was responsible for over $700 million of direct investments in India.
LeapFrog has also promoted Stewart Langdon, who was previously a director of investments at the firm. Langdon will oversee its South Asian markets portfolio. Previously, he worked at Rothschild’s London and Dubai offices for six years.
LeapFrog’s first fund has already committed nearly 75 percent of its capital, prompting the firm to strengthen its Asia capabilities in preparation for Fund II, Fernandes explained in an interview. “We need to be sure our portfolio performs and we want to build on the foundation we already have,” he added.
The firm's second vehicle will be launched next year.
Headquartered in Mauritius, LeapFrog specialises in the financial services sector, focusing on lower-end consumers, according to the firm. It invests in in seven countries across Asia and Africa and expects to make further hires in both regions during 2013.