Travis Kalanick announced on Wednesday that he is starting his own investment fund. The former CEO of Uber, who only recently resurfaced publicly since his June 2017 ouster, wrote that he has been working on what his next move will be over the last few months.
To that end, he’s been making personal investments in both for-profit and not-for-profit companies, and is creating this new fund to manage those ventures. Kalanick wrote that the fund, called 10100, would focus on “large-scale job creation” with investments in e-commerce, real estate and emerging tech in China and India.
In other words, Kalanick will be keeping himself busy by financing and sitting on the boards of companies, at least until he finds his next full-time job. Fresh off selling almost a third of his Uber shares to SoftBank Capital, Kalanick certainly has cash to spare. That transaction valued each share at $33, which meant Kalanick stood to gain almost $1.4 billion.
The notoriously pugnacious former Uber executive already sits on at least two boards, including Uber’s and, most recently, Kareo, a medical startup he was an angel investor in.
Many have questioned whether Kalanick would be able to take a step back from his role at Uber following his departure, or if he would attempt to continue to run the company from his board seat. But, the SoftBank transaction also came with governance changes that whittled his voting power and that of other board members. Now the number of shares directly correlate to the amount of decision-making power.
Kalanick did not respond to requests for more information at the time of publication.
This is developing …