Bono And Roger McNamee's PE Firm Raising A New Fund

roger mcnamee

Elevation Partners, the private equity fund featuring star investor Roger McNamee and Bono, is raising a new fund, reports Adam Lashinsky at Fortune.

Elevation’s current fund is about 70% used, so it needs more money to invest. Elevation raised $1.9 billion in 2004.

Its investment record to date has been spotty.

  • Its only successful exit came from an investment in a gaming company that it eventually sold to EA.
  • It invested in “online real estate dog”
  • It bought into Forbes Media, which is slashing staff and trying to hang on.
  • Its most important investment is Palm. Elevation invested $460 million in Palm. That investment is worth $500 million today.

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