TPG Growth Plans to Start a Social Impact Fund
By
William E. McGlashan Jr., founder and managing partner of TPG Growth. CreditDavid Paul Morris/Bloomberg
TPG Growth has established itself as a boldface name in investing, with stakes in companies that include Silicon Valley darlings like Uber and Airbnb and the guitar maker Fender.
Now the business, part of the investing titan TPG, is planning to branch out into the world of so-called social impact investing that is meant to be philanthropically and financially successful — and with operations on a big scale.
TPG Growth plans to raise money for what it will call its Rise Fund, which it hopes will eventually invest more than $1 billion, according to people with direct knowledge of the matter. The fund will involve a partnership with Elevar Equity, an investor that has backed 24 companies in seven countries…
TPG Growth Plans to Start a Social Impact Fund
