Tech, videogame vets are founders.

Bono, lead singer for rock band U2, has joined a Silicon Valley venture capital firm that plans to invest in media and entertainment projects, according to a published report.

The 44-year-old singer is joining the newly created Elevation Partners, based in Menlo Park, Calif., The Wall Street Journal reported today (June 15). The new venture aims to raise $1 billion.

The venture fund was launched by technology investor Roger McNamee and John Riccitiello, former president of videogame maker Electronic Arts Inc. The venture also includes Fred Anderson, who retired this month as Apple Computer Inc.'s finance chief.

Elevation Partners declined to comment, citing Securities and Exchange Commission rules for venture capital firms in the midst of fundraising, according to the newspaper.


AP LogoCopyright 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.