Travis Kalanick launches new fund to back startups from India & China

9 months after his ouster from one of the world’s most valued startups, Uber co-founder and former chief executive officer Travis Kalanick is all set for his second innings.
Kalanick has launched a new fund for his personal investments in startups, for-profit, and not-for-profit work.
Kalanick who has been working towards his next journey over the past few months, said he has been making investments, working with several company boards as also engaging with entrepreneurs and non-profits.
Interestingly a large part of the investments from the fund, named 10100 (Ten one Hundred) will be focussed towards innovations in India and backing Indian startups.
“The over-arching theme will be about large-scale job creation, with investments in real estate. E-commerce, and emerging innovation in China and India. Our non-profit efforts will initially focus on education and the future of cities,” tweeted Kalanick on micro-blogging site Twitter.
Kalanick’s fund which will scout for innovative business models, is in line with his belief that San Francisco, Beijing, and Bangalore remain the major innovation hubs across the world and places where he is likely to make his bets.
The former Uber CEO has so far, made angel investments in a slew of startups globally including software firm Pantheon, social media platform Blippy, online artwork community Deviant Art and medical startup Kareo whose board he serves on as well, amongst others.
Kalanick’s dreams to turn investor come shortly after reports suggested he was looking to sell at least one-third of his stake in the ride-sharing giant he built. Kalanick will reap a whopping $1.4 billion post that sale to Japanese internet giant Softbank and a consortium of investors who agreed to buy his equity valuing Uber at $48 billion, reported Bloomberg.
Kalanick resigned from Uber last June but remains on the company’s board of directors and held a 10% stake in the ridesharing company prior to the sale.
Kalanick’s investments in the Indian startup ecosystem will be keenly watched, where Uber competitor Ola is looking to raise up to $1 bn as it shores up cash to beat its US-based rival here.
After Softbank, Ola’s largest backer since 2014, also became the largest shareholder in Uber, it sparked speculation of a merger or acquisition of the US company’s Indian operations with Ola. One round of discussions took place between the two companies but the talks did not progress, although it is possible that a fresh round might take place in June, ET had reported earlier.
However, Uber’s new CEO, Dara Khosrowshahi maintained that India remains a core market for the ride-hailing firm which will continue to aggressively invest and grow its share in the market. Uber’s global loss jumped 61% to $4.5 billion in 2017, with aggressive investments in India and Southeast Asia being one of the main reasons.
However, despite a year that rocked Uber with sexual harassment allegations, lawsuits over intellectual property theft and investigations by the Justice Department, causing Kalanick to move out of one of the wealthiest technology startups built globally, 2018 is all set to mark his return to the ecosystem doing what he does best - building startups.

Trending News

Amazon India reportedly closing in on Flipkart

Paytm seeks RBI license for P2P lending

IBM launches low-cost blockchain platform starter plan for startups

Regional OTT players shine despite foray of Netflix & Amazon

Chargebee secures Rs 120 crore in Series C funding

Flipkart's fashion vertical ahead of both Myntra, Jabong

Facebook breach: Privacy advocates in India seek stronger data laws

Amazon has warrants in BPO servicing rivals Flipkart & Paytm

Zappfresh raises Rs 20 Cr funding led by Dabur's Amit Burman

Alibaba to invest $2Bn more in Lazada, replaces CEO

OYO acquires Chennai's Novascotia Boutique Homes

Amazon cuts seller fees in a bid to push certain categories

Facebook Lite to launch in developed countries, including United States

Reliance Jio adjusted gross revenue up 21.3% at Rs 5,300 crore in Q3

Angels offer to dematerialise unlisted shares to solve row

Healofy raises $1M seed funding from Omidyar Network

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Myntra brings EMI down to just Rs 50 in sales push

HDFC Bank blocks all its credit and debits cards to buy or trade cryptocurrencies

India to lead in data science job creation: Biocon Chief Kiran Mazumdar-Shaw

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

Understanding local nuance is our key competitive edge: Indian Internet firms

SpaceX is launching its broadband satellites into orbit this weekend

Unilever threatens to cut back online ads over 'toxic' content

Google hires former Samsung Mobile CTO to coordinate Internet of Things projects

Go-Jek plans India foray in second half of 2018

Pivoting away from Cube brought us to the right route: PayU's Jitendra Gupta

Ola parent to invest Rs 400 crore to boost Foodpanda India logistics & tech

Alibaba plans tighter integration of Paytm Mall with BigBasket & XpressBees

MakeMyTrip posts wider loss in Q3, may revisit OYO strategy

Google fined Rs 135.86 crore by CCI for 'search bias'

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Toyota, Suzuki to produce electric vehicles for India market by 2020

Qualcomm rejects Broadcom's $103 billion offer

Fashion e-tailer Voonik asks staff to forgo 3 months' salary

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities