The Rise Fund Invests in Zipline

Frontenac Recapitalizes Zipline Logistics

October 3, 2022

Logistics & Distribution

Chicago-based private equity firm Frontenac has completed a recapitalization of Zipline Logistics to accelerate organic growth initiatives and pursue strategic acquisitions. Zipline's management team will remain in place and retain a significant ownership stake; industry veteran Don Maltby is joining the board to support growth in the consumer-packaged goods logistics market.

TPG Growth and The Rise Fund Acquire Majority Stake in Greenhouse

January 14, 2021

Software

TPG Growth and The Rise Fund have signed a definitive agreement to become majority investors in Greenhouse, the hiring software provider. The investment will support product innovation, market expansion, and enhancements to Greenhouse’s diversity, equity and inclusion hiring solutions; financial terms were not disclosed.

The Rise Fund (TPG) Invests $200M in Airtel Africa's Mobile Money Business (AMC BV)

March 18, 2021

Payments & Fintech

The Rise Fund, TPG’s impact investing platform, will invest $200 million for a minority stake in Airtel Mobile Commerce BV (AMC BV), Airtel Africa’s mobile money business, valuing the business at $2.65 billion on a cash- and debt-free basis. Airtel Africa will retain a majority stake; proceeds are earmarked to reduce group debt and invest in network and sales infrastructure, and Airtel aims to explore a potential listing of the mobile money business within four years.

Zipline Logistics Acquires Summit Eleven

March 28, 2024

Transportation

Zipline Logistics, a Columbus-based 3PL focused on consumer-packaged goods and backed by private equity firm Frontenac, has acquired Summit Eleven, a multi-modal transportation provider headquartered in Austin, Texas. The add-on expands Zipline's temperature-controlled and flatbed capabilities and strengthens its retail/CPG logistics footprint.

TPG Rise Fund Leads $200M+ Growth Investment in Foodsmart

June 26, 2024

Healthcare Services

The Rise Fund, TPG's impact investing strategy, has signed definitive documentation to lead an investment of over $200 million in Foodsmart, the US telenutrition and food benefits management platform. The growth investment will support Foodsmart's expansion of capabilities and reach across Medicaid, Medicare Advantage, commercial health plans and employers; the deal is expected to close in July 2024.

TPG's Rise Fund Makes Minority Investment in Healthcademia

November 26, 2025

Education

TPG’s Rise Fund has made a minority growth investment in Healthcademia, joining majority shareholder G Square Capital to support the healthcare education provider’s next phase of expansion. The capital will be used to accelerate organic growth and pursue acquisitions as Healthcademia scales its technology-enabled healthcare education programs across Europe and the Americas.