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Al Gore's Generation Investment raises $1 billion fund

Illustration of a hand with money signs shooting out of it to symbolize VC funding.
Illustration: Lazaro Gamio / Axios

Generation Investment Management, a social impact private equity firm co-founded by Al Gore, has raised $1 billion for its third fund, broadening its mandate beyond green-tech to include areas like health care and financial inclusion.

The bigger picture: Social impact investing has taken some recent knocks, although market participant Kapor Capital recently published financial results to show it's on par with peer funds.