Uber’s embattled former CEO and co-founder Travis Kalanick has announced he is launching a new investment fund.
Kalanick, who was forced from the ride-hailing company back in June, unveiled his plans for the venture capital fund ‘10100’ – pronounced ten-one-hundred – on Wednesday.
He said the theme of the fund would be large-scale job creation, focusing on real-estate, e-commerce and innovations from countries including China and India.
Uber’s embattled former CEO and co-founder Travis Kalanick announced on Wednesday that he is launching a new investment fund called ‘10100’
The fund, which will be overseen directly by Kalanick, will investments in both profit and non-profit projects.
Kalanick said the fund would be home to ‘my passions, investments, ideas and big bets’.
‘It will be overseeing my for-profit investments as well as my non-profit work,’ he said.
‘Our non-profit efforts will initially focus on education and the future of cities.’
The investment fund came to fruition after Kalanick was forced to resign from Uber nine months ago amid reports of combative behavior and a lawsuit filed by self-driving rival Waymo.
‘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,’ Kalanick said.
Kalanick, who was forced from the ride-hailing company back in June, unveiled his plans on Wednesday
Prior to his resignation, Kalanick ordered an investigation into sex harassment and gender discrimination allegations within Uber.
He has largely remained out of the spotlight since he left the company and was replaced by Dara Khosrowshahi.
Kalanick appeared in court last month to testify in the trade secrets legal dispute between Uber and Waymo.
News of his new investment fund comes a week after Kalanick joined the board of Kareo – a healthcare tech startup centered on patient communications, payment and marketing.
Twitter was abuzz with speculation behind the meaning of the new fund’s name.
One user suggested that it could be a reference “Googol” or “10 to the power 100.”
Kalanick was not immediately available to respond to additional queries regarding his new venture.