India is a fertile environment for impact investing: Bill McGlashan
As a $2 billion (around ₹13,000 crore) impact investment fund, managed by the US-based private equity firm TPG Growth, The Rise Fund is one of the most ambitious of its kind. Launched in December 2016 by Bill McGlashan, 54, founder and managing partner of TPG Growth, U2 lead singer Bono and Jeff Skoll, the billionaire former president of online marketplace eBay, the fund aims to deliver “complete returns” by generating financial benefits alongside social and environmental impact.
The Rise Fund will target investments in education, energy, food and agriculture, financial services, health care, information and communication technology, as well as growth infrastructure across the world.
Its investments include US-based EverFi, a provider of subscription-based digital learning, and California-based Brava Home, makers of ovens that use about 90 percent less energy than conventional ovens.
Forbes India met McGlashan, who serves as the CEO of the fund, to understand how he intends to make real the promise.
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