Union Bank of Switzerland (UBS) Wealth Management, a unit of Zurich-based UBS, recently announced that it has raised USD 325 million from its high-net-worth clientele to invest in The Rise Fund, a social impact private equity fund managed by the US-based Texas Pacific Group (TPG). Both The Rise Fund and UBS’s social impact initiatives seek to support the United Nation’s Sustainable Development Goals. The Rise Fund does this by investing in companies in the agriculture, education, energy, financial services, healthcare, technology and infrastructure sectors.
TPG is an alternative investment firm managing USD 73 billion in assets from 16 offices in Asia, Australia and Europe. It collaborates on The Rise Fund with Elevar Equity, a US-based “human centered venture capital” firm, and The Bridgespan Group, a US-based nonprofit consultancy specializing in “social problems.”
The Rise Fund, which was founded in 2017, has invested USD 120 million in EverFi, a US-based firm specializing in digital education, USD 50 million in India’s Dodla Dairy, and an undisclosed amount in Brava, an “internet of things” company in India.
The investment by UBS contributes to a goal the bank set this year to raise USD 5 billion by 2022 for impact investments around the world. UBS currently has USD 1 billion placed in impact investments, including USD 471 million in the bank’s Oncology Impact Fund.
Sources and Additional Resources
The Rise Fund:
Rethink Impact Fund:
United Nations Sustainable Development Goals 2017:
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