Tainted Uber co-founder and former CEO Travis Kalanick has revealed plans to launch a new investment fund that will focus on large-scale job creation in India and China. In a tweet, Kalanick said the fund, called the "10100 Fund", will look into investment areas like real estate, e-commerce and emerging innovations. "The over-arching theme will be about large-scale job creation, with investments in real estate, e-commerce and emerging innovations in China and India. Our non-profit efforts will initially focus on education and the future of cities," Kalanick tweeted late on Wednesday.
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According to media reports, Kalanick will likely invest in startups that have between 10 and 100 employees -- the magic growth stage for startups. Kalanick was forced out as the company's CEO in July over a number of controversies and mis-steps, including allegations of widespread sexual harassment against women in the company. Susan Fowler, a former site reliability engineer, levelled numerous allegations of sexism against her former superiors in a blog post.
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This led to further allegation from other employees, prompting Uber to conduct internal investigations. Kalanick still remains on the company's board of directors. Kalanick co-founded Uber in 2009 and made the ride-hailing app one of the world's most valuable companies. In his 2016 trip to India as Uber CEO, Kalanick had urged ex-servicemen in India to avail entrepreneurship opportunities with the company as driver partners.
Kalanick also felicitated some drivers for their extraordinary service to the country.
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