Former Uber CEO Travis Kalanick sets up fund to invest in e-tail, innovation in India, China
Travis Kalanick, the controversial founder of cab-hailing firm Uber Technologies Inc., is setting up an investment fund that will invest in India and China.
The 10100 Fund (pronounced ten-one-hundred) will mainly focus on large-scale job creation, Kalanick said in a tweet on Thursday. “It will be overseeing my for-profit investments as well as my non-profit work,” he said.
Kalanick said the fund will invest in real estate and e-commerce sectors as well as emerging innovation. “Our non-profit efforts will initially focus on education and the future of cities.”
Some news… pic.twitter.com/urFBrb9aCV— travis kalanick (@travisk) March 7, 2018
Last June, Kalanick was ousted as Uber's chief executive and pushed out by the company’s board amid a litany of regulatory problems, driver and consumer scandals, and court cases.
In December 2017, a group of investors led by Japan's SoftBank Group Corp bought a 17.5% stake in the ride-hailing firm. As part of the deal, Kalanick sold nearly a third of his shares in the company for about $1.4 billion.