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LeapFrog Investments, a global impact investment group with presence in India, has received a commitment of $500 million from Temasek, the Singapore government owned investment company.

Following this agreement, Temasek will anchor LeapFrog’s future funds and also take minority stake to provide the growth capital for the latter’s funding across Asia and Africa.

Benoit Valentin, Head, Impact Investing, at Temasek, said, “There is an urgent and pressing need to address the critical, social and environmental challenges that the world is facing. We believe in the potential of impact investing to unlock the capital to meet these challenges.”

“Our partnership with LeapFrog, with its focus on serving underserved markets, underscores Temasek’s commitment to investing for impact, and the contributions these investments make towards shaping a better world for our communities,” Benoit said.

According to LeapFrog, across four of its private equity funds, its  companies have grown on average at 30 percent per year. It said the portfolio of companies now reach 212 million people with healthcare or financial services, and directly provide employment to over 130,000 people.

Andy Kuper, Founder and CEO of LeapFrog, explained, “When we launched LeapFrog, the impact industry did not exist, but we believed that Profit with Purpose was the future of business and investment.”

“Through this landmark commitment, Temasek joins in our vision to build an enduring and exemplary investment institution. We will continue to open the gates of the capital markets to purpose-driven businesses,” Andy said.

Among its current companies are WorldRemit, the fast-growing cross-border digital payments company; GoodLife, one of the largest pharmacy chains and healthcare providers in Africa; and BIMA, the digital insurance and tele-health provider across global growth markets.

LeapFrog has scaled market-leading and digital companies that have then been sold to the likes of Prudential Plc, Allianz X, Swiss Re, Fidelity’s Eight Roads and Standard Chartered.