Elevation Partners

Elevation Partners was founded in 2004 by a group of high-profile professionals from the technology, finance, and entertainment sectors, including Roger McNamee, Bono, and former executives from Apple and Electronic Arts. The firm's name was inspired by the U2 song Elevation. Based in Menlo Park and New York City, the firm managed approximately $1.9 billion in assets, primarily targeting late-stage investments in media and technology companies.

The firm is best known for its early investment in Facebook, where it acquired a 1% stake for $90 million in 2010. Other significant deals included a $325 million investment for a 25% stake in Palm, Inc. and the acquisition of SDI Media Group. The firm also played a major role in the video game industry by forming VG Holding Corp to house BioWare and Pandemic Studios, which were later sold to Electronic Arts for $860 million.

Elevation Partners ceased active operations around 2015 as its assets were acquired or the portfolio was closed out. Following the firm's conclusion, some board members formed NextEquity Partners, while Bono went on to co-found The Rise Fund. During its active years through September 2014, the fund reported a generated annual return of 11.4%.