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Former Uber CEO Travis Kalanick to launch investment fund called '10100'

Former Uber CEO Travis Kalanick to launch investment fund called '10100'

Kalanick's fund, called 10100, will encompass both his for-profit and nonprofit ventures, all tied together by the "overarching theme of large-scale job creation", according to his announcement on Twitter.

'It will be overseeing my for-profit investments as well as my non-profit work, ' he said.

Kalanick says over the past few months he has been thinking about "what's next" for him. I've begun making investments, joining boards, working with entrepreneurs and non-profits, ' Kalanick said.

In a tweet, Kalanick who resigned from his position at Uber after a shareholder revolt, said he will start a fund 10100, pronounced "ten-one-hundred". "Our non-profit efforts will initially focus on education and the future of cities".

VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more.

Kalanick didn't announce any partners, fundraising schedules or goals, like a mature VC fund would normally do. Kalanick, however, did not specify the size of the proposed fund.

Former Uber CEO Travis Kalanick leaves federal court in San Francisco, Wednesday, Feb. 7, 2018.

Susan Fowler, a former site reliability engineer, levelled numerous allegations of sexism against her former superiors in a blog post.

Under Kalanick, the ride-hailing startup failed to crack the Chinese market, selling off its business there to Chinese rival Didi Chuxing in 2016.

According to Bloomberg estimates, Kalanick's total worth is expected to be almost $4.24 billion.

In one late a year ago, it came to light that Uber had paid hackers $100,000 following a massive security breach during Kalanick's time as CEO. 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.

After helping make Uber one of the wealthiest technology startups globally, this year will see Kalanick back doing what he does best - building startups.

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