Following his unceremonious ouster from the company founded by him nine-years ago, Uber’s founder Travis Kalanick has announced a launch of a new venture fund ‘10100’ which will focus on investing in emerging technologies from India as well as China. We take a look at three key details.
Following his unceremonious ouster from the company founded by him nine-years ago, Uber’s founder Travis Kalanick has announced a launch of a new venture fund ‘10100’ which will focus on investing in emerging technologies from India as well as China. Notably, Travis Kalanick had joined the board of Kareo, a medical office software company called last week, according to a report in Axios. In a tweet this morning, Travis kalanick said that he had been thinking about what to do next for the past few months. “I’ve been making investments, joining boards working with entrepreneurs and nonprofits,” Kalanick added. We take a look at where exactly the fund seeks to invest, and other key details.
New fund named 10100 (Ten-one-hundred)
In the same tweet, Travis Kalanick said that he’s announcing the creation of the fund called 10100 and pronounced Ten-one-hundred, which will be a home to his passions, investments, ideas and big bets. The fund will oversee both for-profit and non-profit work, Kakanick said.
Invest in innovation in India and China
Travis Kalanick says that the overarching theme of the fund will be large scale job-creation with investments in real-estate, e-commerce and innovation in emerging economies of India and China. Interestingly, while Travis Kalanick remains on Uber’s board of directors, a recent deal with SoftBank Group, which made bought a 20% stake has reduced his voting power. According to news reports, Travis Kalanick is set to earn $1.4 billion from the deal, giving him further resources to invest.
Non-profit investments into education
According to the tweet, 10100’s non-profit efforts will be towards education and the future of cities. Notably, Travis Kalanick has not yet divulged any details regarding the the size of his new fund nor given any details regarding the various sectors he looks to focus on. Interestingly, Travis kalanick has also invited people to work for the fund on Twitter. “For anyone who wants to get to work, email me at email@example.com,” Travis Kalanick said.