Travis Kalanick, the former chief executive officer of Uber Technologies Inc., said he’s forming an investment fund to back technology startups.
The fund, called 10100, will focus on real estate and e-commerce startups, as well as technology businesses in China and India. He’ll also work with nonprofit endeavors in education and cities. His new firm, pronounced “ten one-hundred,” encapsulates Kalanick’s “passions, investments, ideas and big bets,” he said in a statement.
Kalanick, who co-founded Uber nearly a decade ago, was ousted from his ride-hailing company after a tumultuous period last year. He sold about $1.4 billion in stock to a group of new investors led by SoftBank Group Corp. in January and remains on the board.
In his statement Wednesday, Kalanick said he has spent the last few months making investments, joining boards, and working with entrepreneurs and nonprofits. Last week, health startup Kareo Inc. said Kalanick had joined its board. The company was started by Dan Rodrigues, a longtime friend of Kalanick’s.