Early Lyft investor Ben Horowitz picked it over Uber because he liked the 'character and culture of the Lyft guys'

  • "We liked the character and culture of the Lyft guys better than Uber and continue to," Horowitz told CNBC's "Squawk on the Street" on Friday morning, ahead of the company's debut on the public market.
  • Horowitz's firm is slated to hold over $1 billion valued in stakes of the ride-hailing application, and said he's "happy to stay patient" as the company progresses.

Major Lyft investor Ben Horowitz said he invested in the company over Uber in part because he liked the founders better.

The board member said the company's environment was one reason why Andreessen Horowitz led a $60 million round in 2013. The firm owns 5.5 percent of the company as of its IPO on Friday, a stake worth more than $1 billion at the company's debut price.

"We liked the character and culture of the Lyft guys better than Uber and continue to," Horowitz told CNBC's "Squawk on the Street" on Friday morning, ahead of the company's debut on the public market. He expects Andreessen Horowitz to stay invested in the company for 10 years or more, and said he's "happy to stay patient" as the company progresses.

Lyft already has added scooters and bicycles into its fleet and Horowitz said there's room to grow into other operations.

"When you have a company that's winning share you stay in it," Horowitz said. "It's going to continue to win share for the foreseable future."

Today's IPO comes as several large name companies are planning to go public over the next year, including its rival Uber, which is expected to go public next month, plus Slack and Pinterest.

"It's great for the market, it's great for the country when great companies go public," he said. "The companies going out this year are of the highest quality."