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LeapFrog seals first Fund II deal with $29m IFMR Capital deal

31 Mar 2014

frog_lrgAfrica and Asia-focused financial services investor LeapFrog Investments has made the first deal from its second fund by injecting $29m into India’s IFMR Capital.

The company aims to act as a bridge between capital markets and high-quality financial institutions that reach underserved households and businesses, and acts across 24 Indian states.

LeapFrog co-founder Jim Roth said, “IFMR Capital is led by an impressive leadership team that aligns exceptional business acumen with a strong sense of social purpose.

“The demand for financial springboards and safety nets in India is growing fast, on a very large scale. IFMR Capital recognized this need early.

“In a short time, they have built a high road between the capital markets and the institutions and India’s emerging middle class; we look forward to working with them now to create a financial highway.”

The 30 million micro, small and medium–sized enterprises in India today account for 45 per cent of Indian industrial output, yet only five to 10 per cent have access to formal sources of funding, LeapFrog said.

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