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A Russian billionaire made a $200 million investment in Uber

Billionaire Mikhail Fridman made the investment with his company LetterOne
Reuters

RussianbillionaireMikhailFridman's LetterOne investment vehicle said on Friday it had made a $200 million investment in U.S. ride-hailing service provider Uber Technologies Inc [UBER.UL].

It did not specify when it bought the shares or what stake it had acquired in the firm, which has previously raised more than $5 billion in several financing rounds.

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"We believe that Uber's highly talented management team possesses the necessary vision and skills to build the company into one of the world's preeminent technology businesses,"Fridman, who is the chairman of LetterOne, said.

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In January,Russianmedia reported that anotherRussiantycoon, Alisher Usmanov, had invested several tens of millions of dollars in Uber in the summer of 2015.

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