LeapFrog raises $700m

The Ebene-based private equity investment firm wrapped up the fundraising process for its third fund above target.

LeapFrog Investments surpassed the fundraising target and held the final close for its third vehicle, LeapFrog Emerging Consumer Fund III, at $700 million.

The Fund targets healthcare and financial services companies that serve low-income consumers in Asia and Africa, including India, Sri Lanka, Thailand, Kenya, Nigeria, etc.

There are nearly 40 committed investors to the Fund III, such as Prudential Financial, OPIC and IFC.