Bono’s Fund Makes Its First Fintech Investment, Backing Acorns
Financial technology startups are grabbing a greater share of capital from investors. Now Bono is getting in on the action.
The Rise Fund, a private investment fund co-founded by the U2 lead singer, is making its first known bet on a fintech business by backing Acorns Grow Inc., the companies confirmed on Friday. Acorns offers an investing-and-savings app tailored to people with small amounts of disposable income.
Bono helped start the Rise Fund last year with private equity firm TPG, raising $2 billion to focus on commercial projects capable of having a social or environmental impact.
Photo courtesy of Ava Systems.