Uber founder and ex-CEO Travis Kalanick is launching a venture fund focused on India and China
Uber's embattled cofounder and ex-CEO Travis Kalanick has found his next gig.
Kalanick, who sat at the helm of the ride-hailing app until getting pushed on in June, announced a new venture capital fund on Wednesday called "10100."
The fund will be directly overseen by Kalanick and will focus on the theme of "large scale job creation," he said in a blog post. He noted that investments will be in both profit and non-profit projects.
It's a big announcement for Kalanick, whose casual management style and lingo have come to epitomize irreverence in Silicon Valley's startup culture.
While Kalanick's left Uber under a cloud of controversy, he nonetheless managed to build Uber into a $69 billion powerhouse, the world's largest privately held tech company. It's likely that 10100 is at least partially funded by the $1.4 billion Kalanick reportedly made selling part of his stake in Uber.
Here's Kalanick's full statement:
Over the past few months I've started thinking about what's next. I've begun making investments, joining boards, working with entrepreneurs and non-profits. Today I'm announcing the creation of a fund called 10100 (pronounced 'ten-one-hundred'), home to my passions, investments, ideas and big bets. It will be overseeing my for-profit investments as well as my non-profit work.
The overarching theme will be about large-scale job creation, with investments in real estate, commerce, and emerging innovation in China and India. Our non-profit efforts will initially focus on education and the future of cities.
For anyone who wants to get to work, email me at travis@10100fund.com