Russian billionaire Mikhail Fridman's LetterOne investment vehicle said on Friday it had made a $200 million investment in US ride-hailing service provider Uber Technologies Inc.
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.
"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 pre-eminent technology businesses," Fridman, who is the chairman of LetterOne, said.
In January, Russian media reported that another Russian tycoon, Alisher Usmanov, had invested several tens of millions of dollars in Uber in the summer of 2015.
Last week, Uber agreed to pay $28.5 million to settle litigation brought by customers who alleged the ride hailing service misrepresented the quality of its safety practices and the fees it charged passengers, the company said on Thursda
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