Cinven veteran joins LeapFrog to lead ‘multiple’ fund launches

LeapFrog, which received an investment from Temasek last year, has been busy building its investor relations bench.

LeapFrog Investments has hired Yalin Karadogan from the private markets firm Cinven to help launch upcoming fundraises.

Karadogan joins as a partner and global head of investor solutions at the impact-focused firm, which invests in financial services and healthcare in emerging markets, according to a LeapFrog statement. His hire comes as the firm closes out the investment period for its $744 million Emerging Consumer Fund III strategy, New Private Markets reported last month.

According to a source familiar with the firm’s plans, LeapFrog is planning to launch multiple new fundraises in the coming months.

The firm received a $500 million commitment to support future fundraises last March from Temasek Holdings, a government-owned investment company in Singapore, which also purchased a minority stake in LeapFrog. Leapfrog did not comment on fundraising plans.

Last May, LeapFrog also hired Greg Jones as head of investor relations and Alice Maltby as investor relations officer. Both will report to Karadogan, the LeapFrog statement said. Together, the new team will “substantially enhance[s] LeapFrog’s client services and fundraising capabilities… ahead of a number of new fund launches”.

Karadogan previously spent 15 years at London-based Cinven, a firm that’s raised €37 billion in capital. He led fundraising efforts across Asia-Pacific, Europe and the Middle East and played a large role helping Cinven collect €10 billion for its most recent flagship fundraise. In February, Cinven made two senior hires to its investor relations team. Elanor Mountain joined the firm from CBPE Capital, and Justin Riedell from HIG Capital. Cinven hired both as managing directors.

After launching in 2017 with a $600 million target, LeapFrog’s third Emerging Consumer Fund invested in companies including Zepz (formerly WorldRemit), a global remittance provider offering digital money transfer services. The fund also financed NeoGrowth, which provides online micro loans and insurance products to small businesses in India.

Founded in 2007 by social entrepreneur investors Andy Kuper and Jim Roth, LeapFrog has grown to manage over $2 billion in assets. The firm has raised some of the largest private markets funds dedicated to impact investing to date.