LeapFrog Invests $14.2 Million in Sriram Capital
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LeapFrog Invests $14.2 Million in Sriram Capital
Bangalore: LeapFrog Investments, a $135 million social investment fund has announced a $14.2 million investment in Shriram Capital's financial subsidiary Shriram Credit Co. Shriram Group offers financing, insurance, and retail brokerage services to the lower-income masses across India, and with the funding, it hopes to increase its life insurance coverage of up to $11,000. Shriram group's financial services business manages assets over 400 crore, and LeapFrog is expected to benefit one crore beneficiaries within a year. The fund is also expected to help Shriram Credit to expand its branch networks. The three businesses under Shriram credit are Shriram Fortune (for distribution of financial products), Shriram Insights (a brokering firm), and Shriram Wealth Advisors. According to G.S. Sundarajan, Managing Director, Shriram Capital, the investment from LeapFrog will augment their ability to deliver insurance at the lower end of the market. LeapFrog is a $135 million fund, which targets both financial and social returns. It invests in businesses that extend and enhance security to the poor and financially excluded.

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