Bono, Gore-backed Funds Invest In calgary’s Benevity

Canadian technology company Benevity Inc. has won the backing of two social impact investments funds founded by rock star bono and former u.s. vice president Al Gore. The rise Fund and Generation Investment Management have become “strategic minority investors” in the Calgary-based firm, according to a statement. u2 singer bono is the co-founder of The rise Fund and Gore is co-founder and chairman of Generation. The terms were not disclosed. Three Canadian pensions funds — Canada Pension Plan Investment board, Alberta Investment Management Corp. and Vestcor Inc. — were also co-investors in the transaction. benevity has emerged as a fledgling tech star in Calgary’s traditionally oil-based economy. Founded in 2008, it produces software to manage corporate social responsibility programs, such as online giving, matching grants and volunteering. Its software has processed more than us$6 billion in donations.