Exclusive: Uber investor Lead Edge Capital raises $150 million for public equity fund

FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it's IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) - Lead Edge Capital, which has backed Uber Technologies Inc and Alibaba Group, has raised $150 million through a new fund to invest in publicly listed software and internet companies, the venture said on Wednesday.

In a statement seen by Reuters ahead of its official release, New York City-based Lead Edge said the new fund is expected to hold positions in five to 10 public firms at a time and the initial portfolio will be built over the next two years.