Apple's connection with music keeps growing with today's news that its former chief financial officer Fred Anderson is sitting on a company board with U2 lead singer Bono.

44-year old Bono is joining Elevation Partners, a new venture capital firm that will invest in media and entertainment projects, the Wall Street Journal reports. The venture aims to raise $1 billion.

It was initiated by investor Roger McNamee and former Electronic Arts president John Riccitiello. Former Apple chief financial officer and now Apple board member is also part of the investment group.