TPG Rise Climate, a newly established fund that will focus on investments in companies dedicated to combating climate change, raised no less than US$5.4 billion in its initial funding round in late July. Participants include some of the world’s largest institutional funds and about twenty industry-leading companies, such as Boeing, Nike, and Honeywell. The fund’s purpose is to become an investment platform for companies focused on clean energy, decarbonized transportation, green industries, agriculture, and natural solutions. TPG Rise Climate is part of TPG Rise, a fund in which singer Bono and eBay’s first president, Jeffrey Skoll, are investors. To manage the new fund, Bono and his partners recruited Henry Paulson, the former Secretary of the Treasury, who is returning to the financial arena after 12 years of retirement, during which he devoted himself to his own philanthropic organizations. Paulson has extensive experience in coordinating government and private-sector interests: as Secretary of the Treasury, he was responsible for managing the 2009 crisis and bailout.