Two of the most prominent investors in ride-hailing service Lyft Inc. quietly sold $148 million in shares of the company in recent weeks, according to people familiar with the matter.

Andreessen Horowitz and Founders Fund, a venture firm founded by Peter Thiel, each sold a portion of their stakes in Lyft to Saudi Arabia’s Prince al-Waleed bin Talal and his Kingdom Holding Co. in a December deal authorized by the company, the people said. The secondary transaction coincided with Lyft’s larger series F round of funding, in which the company raised $1 billion directly from investors including General Motors Co. GM, +0.40% and al-Waleed.