July 21 (Reuters) - U.S. private jet operator Flexjet

raised $800 million in a funding round led by LVMH-backed

private equity firm L Catterton, valuing the company

at about $4 billion, Financial Times reported on Monday.

The funding comes as Flexjet looks to expand its fleet to

meet rising demand from technology and cryptocurrency

entrepreneurs, the report said.

"We have a tremendous amount of different types of

entrepreneurs this year. . . in the tech space but also Bitcoin,

they become so speculative and so there is rapid wealth in that

industry," Flexjet Chair Kenn Ricci told the newspaper.

Flexjet did not immediately respond to a Reuters request for

comment.

Earlier in February, Brazilian planemaker Embraer ( ERJ )

signed a purchase deal worth up to $7 billion with Flexjet for a

fleet of Phenom and Praetor executive jets, including firm

orders for 182 aircraft and options for another 30.

Analysts at JPMorgan expect the deal to increase Embraer's ( ERJ )

total backlog by about 26% to $28.7 billion, forecasting

deliveries over the next five years, as Flexjet plans to double

its fleet during the period.