Russian billionaire has invested $200 million in Uber

Uber

Russian billionaire Mikhail Fridman’s LetterOne fund has invested $200 million in Uber, the ride-hailing company, marking one of its most high-profile investments in a technology start-up. The announcement comes as Uber is seeking to raise as much as $2.1 billion from investors in its most recent fundraising round, at a valuation of $62.5 billion… Uber is the most highly valued tech start-up in the world but has raised hackles with regulators in a number of countries… LetterOne, the fund owned by Mr Fridman and his business partner German Khan, had assets of $25 billion at the end of 2014, and plan to invest $2 billion – $3 billion in late-stage tech companies… Uber has a pattern of taking on strategic investors in challenging markets such as China, where its investors include Baidu, the Chinese search engine, Guangzhou Auto, and China Life, the insurance company.

 

Leslie Hook and Max Seddon

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