Morgan Stanley, Fidelity, T. Rowe Price and TPG's The Rise Fund led a $150m funding round in Rad Power Bikes.

Morgan Stanley, Fidelity, T. Rowe Price and TPG's The Rise Fund led a $150m funding round in Rad Power Bikes, an e-bike maker, with participation from Durable Capital Partners and Vulcan Capital. "Rad Power Bikes has built an operation with all the earmarks of a company that can be much larger over time. Their commitment to innovation and providing excellent customer service to their riders has resulted in a high referral rate. We recognize the opportunity that the company has and are excited about the company's prospects," Henry Ellenbogen, Durable Capital Partner.