Travis Kalanick to start investment fund
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The contentious co-founder of San Francisco-headquartered ride-sharing firm Uber Technologies Inc. is in the process of setting up an investment fund which will invest in real estate, e-commerce and emerging innovation in India and China.
He made the announcement through a tweet a few hours ago, signaling the creation of the fund called 10100 (pronounced ten-one-hundred).
"The overarching theme will be about large scale job creation, with investments in real estate, ecommerce and emerging innovation in China and India. Our non-profit efforts will initially focus on education and the future of cities," he said.
He did not indicate the fund size or the nature of the transactions, which can range from seed to early to growth to late stage.
Kalanick says over the past few months he has been thinking about ‘what’s next’ for him. He has begun making investments, working with entrepreneurs and non-profits, he said in the tweet.
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Kalanick resigned from Uber, the ridesharing company he founded along with Garrett Camp in 2009, in June last year. He, however, continues to be on its board of directors and holds almost 10 percent stake in it.
According to Bloomberg estimates, Kalanick’s total worth is expected to be nearly $4.24 billion.
India and China, the two fastest growing economies, are the most sought after investment destination, on the back of their growth potential.