On March 7, the co-founder and former CEO of ride-sharing app Uber, Travis Kalanick, announced his new investment fund, 10100. It will oversee his for-profit investments and his non-profit work. He has begun making investments, working with entrepreneurs and non-profits, he said in the tweet.
In terms of what kind of projects the fund will manage, Kalanick says he plans to focus on large scale job creation, real estate and commerce investments, as well as emerging tech businesses out of China and India. He'll also work with non-profit endeavors in education and cities.
VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more.
Kalanick's fund is in line with his belief that San Francisco, Beijing and Bangalore remain the major innovation hubs across the world and places where he is likely to make his bets.
Travis Kalanick is back in the news after a gap of close to a year when he was unceremoniously ousted as the CEO of Uber.
Susan Fowler, a former site reliability engineer, levelled numerous allegations of sexism against her former superiors in a blog post.
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.
According to Bloomberg estimates, Kalanick's total worth is expected to be almost $4.24 billion.
Travis Kalanick joined Uber nearly a decade ago in 2009. After Softbank, Ola's largest backer since 2014, also became the largest shareholder in Uber, it sparked speculation of a merger or acquisition of the U.S. company's Indian operations with Ola.
In one late past year, it came to light that Uber had paid hackers $100,000 following a massive security breach during Kalanick's time as CEO.