KKR is among the investors that recently participated in a $600 million funding round for San Francisco-based ride-hailing company Lyft Inc. KKR’s investment was not disclosed. According to several outlets, the capital infusion reportedly puts Lyft at a $7.5 billion valuation.
April 11, 2017 – New York, NY – KKR, a leading global investment firm, today announced the closing of a primary investment in Lyft, a leading ridesharing platform in the U.S. KKR is making the investment through its Next Generation Technology Fund, a fund dedicated to growth equity investment opportunities in the technology, media and telecommunications space.
“Lyft is fundamentally changing the way people think about car ownership and transportation,” said George Roberts, Co‐Founder and Co‐CEO of KKR. “With ridesharing increasingly in high demand, we are proud to partner with Lyft for their differentiated customer‐centric culture, impressive growth strategy and exceptional management team, and to work together to change transportation for the better for both passengers and drivers.”
The investment is part of a $600 million Series G round of funding into the company. Financial details of the transaction were not disclosed.
For more information on this investment, please see “Taking a Ride with Lyft” on the KKR Blog.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds.
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