Kalanick wrote that the fund, called 10100, would focus on "large-scale job creation" with investments in e-commerce, real estate and emerging tech in China and India. "I've begun making investments, joining boards and working with entrepreneurs and non-profits". Kalanick left Uber after it dealt with a series of public relations disasters and scandals over its treatment of women, Kalanick's own behavior and a slew of other issues.
Kalanick, who was ousted as the global cab aggregator's CEO a year ago amidst increasing investor pressure, announced the launch of 10100 on Twitter. Kalanick's new fund will oversee his for-profit investments and non-profit work, which he said focus on his "passions, investments, ideas and big bets". In addition, infrastructure will receive some attention, as the "future of the cities" finds a mention in Travis Kalanick's tweet.
Kalanick said his investments will center on large-scale job creation.
The announcement on a new investment venture fund by Travis Kalanick comes as a fresh chance for the ex-Uber CEO to revive his image after the scandalous exit. He sold about US$1.4 billion in stock to a group of new investors led by Softbank Group Corp in January and remains on the board.
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 auto project. Fresh off selling nearly a third of his Uber shares to SoftBank Capital, Kalanick certainly has cash to spare. "The start-up ecosystem in the country has grown in the last 10 years, and the funding environment has gone global.we now have global investors whose main thing is to invest in India" Kalanick had then said. In the lawsuit, Waymo contended that former Uber CEO Travis Kalanick teamed up with ex-Google engineer Anthony Levandowski to steal LIDAR laser sensor technology.