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LeapFrog Investments

4th Floor, 20, The Piazza, Whiteley Rd, Melrose, Johannesburg, Gauteng, 2076, South Africa

Overview

LeapFrog Investments is a private equity firm specializing in growth-stage and expansion investments. It does not invest in green fields or startups. The firm invests in financial institutions, distributors for financial products, or enablers of financial services, such as administrators or technology platforms.

Total investments
40
Lead investments
20
Investments · 12mo
4
Active investors
15

Sector focus

  • Finance
  • Financial Services
  • FinTech
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Investment portfolio

  • Pharmacity

    Led · Equity · May 2026

    Pharmacity is a Ho Chi Minh City–based pharmacy retail chain operating across Vietnam. The company recently restructured and has returned to profitability. Management plans to use new capital to accelerate nationwide expansion over the coming years. The new funding round—approximately $50–$80 million from LeapFrog Investments—was described by the CEO as sufficient to fund growth for the next three to five years. Pharmacity is backed by Mekong Capital, and its CEO is Deepanshu Madan.

  • Shubham Housing Development Finance Company

    Led · Equity · Apr 2026

    Shubham Housing Development Finance operates in India’s affordable housing finance sector, providing housing loans primarily to low-income and underserved segments. The company manages roughly ₹7,500 crore of assets and runs more than 200 branches across 12 states. It benefits from demand drivers such as urbanization and government initiatives like the Pradhan Mantri Awas Yojana. Shubham projects robust asset growth, potentially at a 30–35% CAGR, and expects gearing to stay below 5.0 times in the coming three years. As of June 30, 2025, the company reported gross non-performing assets of 1.4%. The firm faces sector risks including regulatory changes from the Reserve Bank of India, competition from larger banks and housing finance companies, and the credit risk profile inherent to affordable-housing borrowers.

  • ReNew

    Led · Equity · Mar 2026

    ReNew is a publicly listed decarbonization solutions company and independent power producer with a gross clean energy portfolio of approximately 19.2 GW (including 1.5 GW of BESS) as of February 12, 2026. Its commercial and industrial platform, ReNew Green, has 2.5 GW of committed capacity across multiple states, with over 2.0 GW commissioned and about 1.3 GW contracted under long-term agreements with customers such as Microsoft, Amazon and Google. ReNew also operates manufacturing capacity of 6.5 GW of solar modules and 2.5 GW of solar cells and is expanding its solar cell manufacturing capacity by an additional 4 GW. The company provides end-to-end clean energy solutions, value-added energy offerings through digitalization, storage, and carbon market services. ReNew is listed on Nasdaq (RNW, RNWWW) and serves a diversified customer base across sectors including automotive, chemicals, cement, textiles and technology.

  • Moniepoint

    Participated · Series C · Oct 2025

    Founded in 2015, Moniepoint (formerly TeamApt) offers a comprehensive financial platform that spans digital payments, business and personal banking, credit, cross-border payments, and business management software for micro, small, and medium-sized enterprises. Originally focused on building payment infrastructure for traditional banks, the company has broadened its suite to serve both merchants and individual consumers. Moniepoint supports more than 10 million active business and personal banking customers and processes over US$250 billion in annual digital payment transaction value. Recent product launches include MonieWorld, a remittance service for the African diaspora in the UK, and an integrated payment and bookkeeping tool aimed at simplifying MSME operations. The company generates revenue primarily from transaction fees, banking services, and credit products, though exact figures were not disclosed. With fresh capital in hand, Moniepoint plans to accelerate expansion across additional African markets and into select international geographies while continuing to roll out new financial solutions. The firm has already attracted a diverse base of global investors that include leading development finance institutions and fintech-focused VCs.

  • HealthifyMe

    Led · Equity · Oct 2024

    Founded in 2012 by Tushar Vashisht and Sachin Shenoy, Healthify (formerly HealthifyMe) operates a consumer health app that offers individualized diet, exercise, and lifestyle recommendations through a mix of artificial intelligence and more than 600 human coaches. The company claims a user base of over 40 million across 300+ cities and says its model has delivered meaningful health outcomes at scale in India. Leveraging this traction, Healthify is preparing to enter the U.S.—the world’s largest health and fitness market—while also deepening B2B partnerships in diagnostics, insurance, and pharmaceuticals. The platform’s AI aims to give every user a “personal nutritionist and health coach,” enhancing daily decision-making around food and exercise. Management reports the business is on track to reach EBITDA-positive status by the end of the fiscal year. Total equity raised now stands at roughly $125 million, providing a solid capital base for global expansion and continued AI development.

Team

  • Mustapha Staph Leavenworth Bakali

    Co-Founder and Advisory Board Member

    LinkedIn
  • Andrew Kuper

    Founder and CEO

    LinkedIn
  • Gary Herbert

    Co-Founder, COO & Partner

    LinkedIn
  • Nakul Zaveri

    LinkedIn