LeapFrog Investments, a world leading equity investor, said it will pour as much as 25 percent ($100 million) of its newly-raised $400 million fund into Nigeria’s financial market.

The rest of the money will be invested in high growth businesses in other African nations and Asia, the company said.

The fund, the second of such for LeapFrog, is the largest equity fund in emerging markets dedicated to financial services. The firm closed its first fund in 2013 at $204 million.

Stating the reason for Nigeria been earmarked as its key market in the region, LeapFrog partner, Dominic Liber said leapfrog is drawn to the continent’s largest economy because of its appealing investment factors which include stable economic indicators.

According to him, the Nigerian financial services industry presents a real opportunity for growth especially for companies targeting vast emerging consumer market.

Leapfrog Founder and CEO, Andrew Kuper noted that: “There is a growing realisation among global financial institutions that the emerging consumer represents an historic opportunity … (and) there is an immense demand for transformative financial tools.”

The company says it will make equity investments of about $50,000 in any one company.

Leapfrog’s $400 million fund is backed by some of the world’s leading development financiers, including American International Group and Australian Superannuation funds.

With over $500 million of assets under management, LeapFrog has partners that currently serve over 22.7 million people across 16 countries.