Private Tech Draws Wide Array of Mutual Funds

Uber broke boundaries when it took investments from Fidelity and BlackRock last year. Suddenly, mutual funds widely held by 401(k)s were plunging into private tech.

But institutional investing in Uber is more widespread than previously understood.

Scores of mutual funds now own shares in the ridesharing company, according to regulatory filings that detail just how much money they’ve invested in Uber and many other private tech companies.