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Uber founder Travis Kalanick started his own fund to invest in companies that focus on ‘large-scale job creation’

He will be making investments in real estate, e-commerce and innovation in China and India.

Uber founder Travis Kalanick outside a San Francisco courthouse
Uber founder Travis Kalanick outside a San Francisco courthouse
Elijah Nouvelage / Getty

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.

Have more information or any tips? Johana Bhuiyan is the senior transportation editor at Recode and can be reached at johana@recode.net or on Signal, Confide, WeChat or Telegram at 516-233-8877. You can also find her on Twitter at @JmBooyah.

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, he certainly has cash to spare. That transaction netted Kalanick 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 ...


This article originally appeared on Recode.net.

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