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Markets

Fidelity Talks Private Tech Investing

Fidelity Investments has become one of the most watched investors in private tech in the past year, taking stakes in such big names as Uber, Airbnb, WeWork and Snapchat. But Fidelity executive Andy Boyd wants to make one thing clear: mutual funds are not venture capitalists.

Fidelity’s head of global capital equity markets said the firm was looking to make long term investments in companies that will eventually go public. That approach contrasts with the venture capital model that Mr. Boyd said was more open to merger and acquisitions that can ultimately mean short term investments.

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