Andrew Kuper South African is a pioneer of the impact investment industry, and the Founder and President of LeapFrog Investments -- the profit-with-purpose fund that has demonstrated a different way of doing business in emerging markets.
Leap Frog is the world’s first fund focused on microinsurance and financial inclusion for the poor. It is a poor profit, private equity fund but Kuper believes that this is a tremendous asset class that is able to generate strong return for investors while also lifting millions of people out of poverty. And why is that? Kuper says that there are some incredibly exciting insurance business out there and those businesses have often been serving the middle class but the middle class has somewhat become saturated or it’s not the most exciting opportunity.
He says, Low income people express a very strong demand for microinsurance so several of my partners did a study that is a 100 country landscape study of microinsurance in the world’s 100 poorest countries and it shows that there are a 100 billion people out there who are willing and able to pay for microinsurance, you have a market of a billion people and it is 3% penetrated.
Born in Johannesburg, Andrew Kuper educated at Witwatersrand, Cambridge, and Harvard Universities and schooled at Woodmead, King David, Montessori, and Boskop.
The fund targets strong investment returns while reaching 25 million vulnerable people in Africa and Asia with life-changing financial services. Backed by global banks, funds, reinsurers, and microfinance investors, LeapFrog is now the largest dedicated investor worldwide in companies insuring low-income and under-served people.
LeapFrog's investment strategy has been recognised by The Financial Times, Bloomberg, Fast Company, and many global leaders as opening up a new frontier for microfinance and alternative investment. The fund has also been hailed by President Clinton as the "Insurer to the Poor."
Andy founded LeapFrog in January 2007. He is a serial entrepreneur and investor in emerging markets, and a former Managing Director of Ashoka - which has financed and connected over 2500 social entrepreneurs in 70 countries -- and Director of the Carnegie Council for Ethics and International Affairs. Born and raised in South Africa, Andy was educated at Harvard and WITS and holds a PhD from Cambridge, where he was supervised by Nobel laureate Amartya Sen.
Andy has also authored two books on globalization and governance, Democracy Beyond Borders (Oxford) and Global Responsibilities (Routledge). According to The Economist Innovation Summit, "By pioneering a new asset class and raising $100m for it amid the global financial crisis, Mr Kuper has sought to change the way we invest as individuals, institutions and societies."