LeapFrog aims to raise and deploy $500 million through its Climate Investment Strategy.

The fund is dedicated to expanding access to environmentally friendly technologies across Africa and Asia, focusing on solutions that benefit everyday consumers.

EIB Group President Nadia Calviño described the move as a model example of successful collaboration between the public and private sectors.

“This shows Europe’s strong leadership on climate action. At EIB, we are reaffirming our role as a global climate bank,” she said.

One of the fund’s early investments has gone to Battery Smart, a company in India that provides battery-swapping services for electric two- and three-wheelers, promoting cleaner transportation options.

The strategy also looks to support initiatives in areas such as rooftop solar energy and clean cooking technologies.

LeapFrog’s CEO and founder, Dr. Andy Kuper, emphasized the significance of supporting sustainable growth in emerging economies.

“Half of the world’s population lives in these markets. Without access to green technologies, their development could lead to significant carbon emissions,” he explained.

“But this also presents an enormous opportunity to drive a green transition for billions of people. We deeply appreciate the continued backing of EIB, IFC, and Temasek in our mission.”