Pursuits
Russian Billionaire Fridman's Fund Invests $200 Million in Uber
- LetterOne got $14 billion from selling oil business in 2013
- Fridman with partners holds stakes in VimpelCom, Turkcell
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Russian billionaire Mikhail Fridman’s investment vehicle LetterOne invested $200 million in Uber Technologies Inc., betting in ride-hailing technology after selling billions of dollars worth of oil assets.
"We aim to invest in young but proven businesses," Alexey Reznikovich, managing partner at Fridman’s fund, said in a statement. "We don’t want to focus on any specific sector, but on technologies, because they can jump from one sector to another."