# Leapfrog Acquisition Corp

Leapfrog Acquisition Corp is an Asset Manager based in Los Angeles, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Los Angeles, United States
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** leapfrogacquisitioncorp.com

## Regulatory record

- **Reports private funds:** No

## About

Leapfrog Acquisition Corp was incorporated in Delaware in January 2021 by Todd Boehly, a financier who built his career at Guggenheim Partners before founding Eldridge Industries. The vehicle was formed as a special purpose acquisition company, a structure Boehly has used repeatedly to merge private businesses into public markets. Its registration statement with the SEC targeted industries where Boehly already held deep operational and credit expertise, specifically financial services and asset management. The SPAC completed its $200 million initial public offering on the NYSE in March 2021, listing under the ticker LFAC. The prospectus specified a focus on acquiring businesses in the financial services, insurance, and asset management sectors, with a geographic emphasis on North America. A definitive agreement was announced in March 2022 to merge with Boundless Bio, a clinical-stage oncology company, but the transaction was mutually terminated in June 2022 after market conditions shifted. The trust extended its deadline through shareholder votes while searching for an alternative target. Boehly served as Chairman, CEO, and CFO, reflecting the concentrated governance typical of Eldridge-affiliated vehicles. His parallel entities provide a wide operational infrastructure: Eldridge owns stakes in asset manager Security Benefit, insurer Clear Spring, and the Los Angeles Dodgers, among dozens of other holdings. John Hu, a senior partner at Eldridge, and Amy Boehly Wolfe, a vice president at Eldridge, rounded out the board. As of the SPAC’s mid-2023 liquidation filing, the trust held approximately $46 million after redemptions. The SPAC's structural differentiator is its embedded relationship with Eldridge's credit and insurance platform. Unlike standalone sponsor vehicles that rely solely on deal-by-deal PIPE financing, Leapfrog could in theory tap Eldridge's permanent capital base and LP relationships from Security Benefit's general account to backstop transactions — a sourcing advantage that independent SPACs cannot replicate.

## Sectors

- Financial Services
- Insurance
- Asset Management

## People

- Todd Boehly — Chairman, CEO and CFO
- John Hu — Director
- Amy Boehly Wolfe — Director

## Questions

### Who ran investment decisions at Leapfrog Acquisition Corp?

Todd Boehly served as Chairman, CEO and CFO, giving him unilateral authority over target selection and deal execution. Boehly is also the co-founder and principal of Eldridge Industries, the private holding company that sponsored the SPAC. His track record includes overseeing Eldridge's debt and equity investments in over 80 businesses, which informed the SPAC's focus on financial services.

### What happened to the SPAC?

Leapfrog Acquisition Corp liquidated in August 2023 after failing to complete a business combination. It had announced a merger with Boundless Bio in March 2022, an oncology biotech pursuing extrachromosomal DNA (ecDNA) targets, but the deal was terminated in June 2022. The trust held roughly $46 million after redemptions when it wound down, down from the $200 million originally raised.

### What sectors did the SPAC target?

The prospectus identified financial services, insurance, and asset management as its target sectors. These align directly with Boehly's operational expertise at Eldridge, whose portfolio includes Security Benefit, Clear Spring Insurance, and Maranon Capital. North America was the stated geographic priority.

### Does Todd Boehly have other SPACs?

Yes. Boehly co-sponsored Horizon Acquisition Corporation and Horizon Acquisition Corporation II, both of which completed mergers — Horizon I with Vivid Seats in 2021 and Horizon II with Sportradar before being reassigned. The Horizon vehicles shared the same Eldridge network that backed Leapfrog.

## Related profiles

- [Cartesian Therapeutics](https://altss.com/profile/cartesian-therapeutics-inc)
- [New Germany Fund](https://altss.com/profile/new-germany-fund-inc)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/leapfrog-acquisition-corp

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology