Elevation Partners, co-founded by Bono, is preparing to launch its second fund.
Elevation Partners, the private equity firm is reportedly in preparation for going on the road with its second fund.
She is pursuing a goal of $ 1 billion and $ 1.9 billion.
Early reports suggested that the company was seeking to raise an early stage venture capital funds, but will actually be a vehicle market growth capital.
The Elevation Partners has raised $ 1.9 billion for its first fund in 2004, of which about 92% were put to work. A report of the Board of Investments of the State of Washington indicated that the fund had a net IRR of 8.52 percent.
After a series of failed investments, the company began making a comeback in the last quarter of 2010. Key investments include Facebook, in which Elevation Partners injected $ 270 million and is now looking for a 5x return, and Yelp, which is now looking for an IPO with a valuation of up to $ 2 billion.