Published: Fri, March 09, 2018
Economy | By

Former Uber CEO Travis Kalanick to launch investment fund called '10100'

Former Uber CEO Travis Kalanick to launch investment fund called '10100'

The former ride-hailing company CEO will invest in tech startups in real estate, e-commerce and emerging innovation in China and India through a new fund called 10100 or "ten one-hundred".

Kalanick explained that the fund will focus on his "passions, investments, ideas, and big bets".

The ride-hailing company co-founder, who was ousted by investors a year ago following a series of corporate scandals, said in a tweet Wednesday that he was launching a venture fund that would invest in both the non- and for-profit sectors.

To that end, he's been making personal investments in both for-profit and not-for-profit companies, and is creating this new fund to manage those ventures.

According to Kalanick it will be aimed at large-scale job creation with a focus on real estate, e-commerce and emerging innovation from countries like China and India.

On the nonprofit side, Kalanick said he would be focusing on "education and the future of cities".

Twitter was abuzz with speculation behind the meaning of the new fund's name.

Health start-up Kareo Inc last week said Kalanick had joined its board. Kalanick sits on the board of Uber.

Susan Fowler, a former site reliability engineer, levelled numerous allegations of sexism against her former superiors in a blog post. He, however, continues to be on its board of directors and holds nearly 10 percent stake in it. That deal was estimated to be worth roughly $1.4 billion.

His announcement comes just a few weeks after cashing in his $1.4b (£1.01b) Uber stocks, which followed a string of power consolidation moves by Uber to decrease the amount of influence Kalanick had over the company and its board.

He has so far made investments in a few start-ups, which include software firm Pantheon and social media platform Blippy.

After helping make Uber one of the wealthiest technology startups globally, this year will see Kalanick back doing what he does best - building startups.

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