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TPG Rise Fund hits $2 billion target

TPG met its fundraising objective a little more than a year after interest from the “billionaires impact circuit” and rock star Bono caused it to double its initial target.

The earlier named investors include Jeff Skoll, Pierre Omidyar, Richard Branson, Lynne Benioff, Reid Hoffman, Laurene Powell Jobs, Mellody Hobson, Lynne Benioff and Mo Ibrahim.

Billionaires’ Ball: A look at TPG’s $2 billion Rise Fund

Recent investors include Bank of America Corp., UBS, and the University of California’s Board of Regents, which put in $100 million, Bloomberg reports. The $2 billion raise makes The Rise Fund one of the world’s largest private equity funds taking aim at the 2030 global goals.

“You can’t be a leader today of anything and not believe that you have to do the right thing for future generations, the planet we’re on, and the people you serve,” says UC’s Jagdeep Singh Bachher.

(Editor’s note: We’re continuing to update this post with investments made since its original publication)

The Rise fund has announced six investments so far. Read ImpactAlpha’s coverage of the deals:

$120 million in edtech firm Everfi:

TPG’s Rise Fund comes out of the gates with a big edtech investment in EverFi

$14.2 million in data platform Dharma:

Rise Fund invests in Dharma to simplify data management during crises

$50 million in Dairy company Dodla:

TPG’s Rise Fund’s second deal is a $50 million investment in an Indian dairy

An undisclosed amount in smart-device maker Brava:

TPG Growth and its Rise Fund back Brava to make it easier to eat at home

An undisclosed amount in Indian school-in-a-box LEAD:

The Rise Fund, Elevar Equity back LEAD’s “school in a box” for low-income students in India

$20 million in Latin America education venture Digital House:

TPG’s Rise Fund invests $20 million in Latin American education venture

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