LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise

23 Jul 2020

LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise

Experienced leaders will drive strong returns and governance for the leading impact investor

LeapFrog Investments, the Profit with Purpose investment group whose companies now reach over 200 million people, has elevated three emerging market leaders to its Management Committee and Board. Fernanda Lima, Karima Ola and Frances Holliday will play key governance roles as LeapFrog pursues continued outsized returns and impact for investors and portfolio companies. All three leaders contributed significantly to the raise of LeapFrog’s record-breaking US$743mn impact investing fund for emerging Asia and Africa last year.

L-R: Frances Holliday, Fernanda Lima, and Karima Ola

Fernanda Lima has been elected a partner of the firm and joins the Management Committee, bringing two decades of investment experience in financial services across emerging markets. As LeapFrog’s Director of Investments in Asia, Lima has been responsible for successful investments including SoftLogic Life, now Sri Lanka’s fastest-growing and third-largest life insurer, and Fincare Small Finance Bank, which has grown to reach 2.7 million underserved women in India with financial tools. 

Karima Ola has been elected a member of the Management Board, bringing over two decades of experience as a CIO, investment banker and principal investor in emerging markets. Ms Ola led LeapFrog’s Africa Financial Services team for the past five years. Under her leadership, LeapFrog successfully invested in diverse companies including ARM Pensions, one of the largest pension providers in Nigeria, and AIICO Insurance, the second-largest life insurer in Nigeria. 

Frances Holliday, the firm’s General Counsel, has been appointed an ex-officio member of the Management Board. Her current operational responsibilities at LeapFrog span eight offices globally and dozens of portfolio companies. Ms Holliday brings two decades of experience in complex deal structuring and cross-border mergers and acquisitions in emerging markets, as both a general counsel and external counsel.

The elevation of the three longstanding leaders supports LeapFrog’s continued commitment to excellent governance, strong returns for investors and achieving the firm’s goal of reaching one billion people with essential services by 2030. 

Dr Andy Kuper, founder and CEO of LeapFrog Investments, said: “The exceptional track records and experience of these leaders have enabled LeapFrog to stay at the forefront of emerging markets private equity as well as impact investing. We are proud to see internal talent recognised for their outstanding contributions and empowered to drive LeapFrog’s continued growth as the leader in Profit with Purpose investment.”

Fernanda Lima, partner at LeapFrog Investments, added: “LeapFrog has built the best leadership group I have encountered in two decades in the industry. It is built around two compelling goals: bringing security and prosperity to millions of people and delivering outsized investment returns. I’m delighted to join the partnership and Management Committee, enabling purpose-driven businesses to provide ever more health and wealth services to underserved communities.”

These three appointments follow the recent appointments of Sacha Romanovitch as a non-executive director of the Management Board and Julia Gillard as a member of LeapFrog’s Global Leadership Council. Ms Romanovitch is the CEO of Fair4All Finance and former CEO of Grant Thornton UK. Ms Gillard was Australia’s first female Prime Minister and is Chair of the Institute for Women’s Leadership at King’s College, London.


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