NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Annie Njanja

LeapFrog Investments, a private equity firm that is keen on the financial and healthcare sectors, plans to raise $1 billion for a new fund targeting businesses in “global growth markets,” including Africa.

The Emerging Consumer Fund IV is set to hold a final close in February next year having already secured the backing of several institutional investors, including the European Investment Bank (EIB) and World Bank’s IFC, which have committed $60 million and $50 million, respectively.

Photo courtesy of Edward Howell.