You’ll likely not see billionaire investor Carl Icahn grabbing a Uber car ride any time soon.

Icahn recently invested $100 million with Lyft, the San Francisco ride-hailing app that is Uber’s No. 1 rival. The Icahn investment was part of a $150 million fund-raising round, the company said Friday.

With the investment, Icahn Enterprises will get a seat on the board.

“Carl Icahn’s record as an investor is unparalleled,” John Zimmer, president of Lyft, said in a statement. “His recent success investing in the technology sector stems from a focus on companies that deliver incredible long-term value to their customers, such as Apple, Netflix and eBay/PayPal.”

The $150 million raised will be used by Lyft to deepen the company’s US footprint, bring more innovation to the marketplace and provide the best possible experience for drivers and passengers, Zimmer said.

Icahn said he believes the rise-sharing sector is poised to become “a fundamental component of our transportation infrastructure.”

Lyft’s revenue growth to date “has been extremely compelling,” and increasing urbanization over the next 5 to 10 years should enable Lyft to maintain that trajectory,” Icahn said in a statement.