London-based impact investor LeapFrog Investments on Thursday launched a new strategy to support businesses that are solving climate change adaptation and mitigation for lower-income people.
The private investment firm appointed Nakul Zaveri to head the Climate Investment Strategy. Zaveri was previously managing partner at sustainability-focused growth private equity fund group Relativity Investment Management.
Zaveri will steer the strategy with Phyl Georgiou, head of climate strategy and operations, who will be the other co-lead.
The launch helps Leapfrog accelerate its efforts in impact investing.
“The new climate strategy will focus on companies providing green products and services that are already cost competitive in many emerging markets, and enjoy enabling regulatory tailwinds,” LeapFrog said.
This would include investment into areas such as rooftop solar, distributed energy systems, two-wheeler electric vehicles and smart farming practices.
“Our goal is to give consumers in emerging markets a pathway to leapfrog to low-carbon consumption as they join the middle class,” said Andy Kuper, founder and chief executive officer of LeapFrog.
“We want to enable them to access superior, more affordable, less polluting, safer, healthier, digital, and climate resilient products and services. We’re looking at climate through the lens of inclusion, a distinctive but also vital strategy as consumption rises across global growth markets,” he added.
LeapFrog plans to work alongside developed as well as developing country entrepreneurs to scale and expand access to green technologies.
Zaveri brings over 20 years of experience in climate investing and financial services. He was previously a senior leader at the Global Environment Fund, a private equity investor focused on green energy investments, where he was responsible for managing investment activity across India and Southeast Asia
“Nakul brings the ideal skill-set to enable LeapFrog to deliver in this domain: deep technical and investment expertise, broad systems-based understanding of the climate challenge, and a long and successful track record in growth markets,” said Georgiou.
LeapFrog, which invests in businesses in Asia and Africa, raised over $2bn from global institutional investors. In India, LeapFrog backs companies such as MedGenome, Redcliffe Lifetech among others.