Uber's former CEO Travis Kalanick starts fund to invest in tech start-ups

Lynette Rowe
March 9, 2018

Travis Kalanick, the former chief executive and co-founder of the ride-hailing company Uber, has announced his next venture: an investment fund. It will be overseeing my for-profit investments as well as my non-profit work.

Kalanick said he had begun to make investments and started working with entrepreneurs over the past few months as part of his efforts to move on from Uber, which he co-founded with Garrett Camp in 2009.

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.

On Wednesday Kalanick tweeted that his "Ten One Hundred" fund is intended for "large-scale job creation", and will focus on real estate, e-commerce, and innovations, especially in emerging economies such as those of China and India.

Kalanick didn't announce any partners, fundraising schedules or goals, like a mature VC fund would normally do. Kalanick will reap a whopping $1.4 billion post that sale to Japanese internet giant Softbank and a consortium of investors who agreed to buy his equity valuing Uber at $48 billion, reported Bloomberg.

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Also, recently, reports surfaced that Travis Kalanick joined the board of medical office software company Kareo.

Travis Kalanick joined Uber nearly a decade ago in 2009.

The announcement comes shortly after Kalanick sold 29% of his stake in Uber for a massive $1.4 billion (Rs9,088 crore).

Although he is now further estranged from his company, Uber continues to weather issues that Kalanick fomented while there, such as covering up a massive cyber attack and stealing trade secrets from Waymo, Google's former self-driving vehicle project.

In his 2016 trip to India as Uber CEO, Kalanick had urged ex-servicemen in India to avail entrepreneurship opportunities with the company as driver partners. After a bumpy ride past year, we barely saw the celebrity CEO in news.

Other reports by LeisureTravelAid

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