Hong Kong’s AIA commits $200m to LeapFrog
Wednesday, June 07, 2023
(AVCJ by Justin Niessner) – Hong Kong-listed insurance company AIA Group has agreed to commit USD 200m to various funds managed by LeapFrog Investments, a UK-based impact investor with an extensive Asia footprint.
The investment was first reported by The Financial Times and subsequently confirmed to AVCJ by a source close to the situation. LeapFrog, which maintains bases in the region in Singapore and Australia, is currently raising its fourth flagship fund with a target of USD 1bn.Fund III closed on USD 743m in 2019.
The deal is being held up as a signal of growing interest in impact among Asian institutions asthe strategy falls out of favour in the US.
