Travis Kalanick turns investor, launches new fund to back startups from India & China
Travis Kalanick, the former Uber chief executive, announced on Wednesday in a Twitter post that he is going to start an investment fund called 10100.
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 focused towards innovations in India and backing Indian startups.
“The over-arching theme will be about large-scale job creation, with investments in real estate. Ecommerce, 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.
Some news… https://t.co/urFBrb9aCV— travis kalanick (@travisk) 1520464165000
Kalanick resigned from Uber last June but remains on the company’s board of directors.
Investors, however, believe that Kalanick’s investments in Asia are likely to tend more towards India than China if he were to take a leaf out of Uber’s experiences in both countries.
“Travis Kalanick has visited India more often and has engaged with Indian startups rather well. He is likely to be in the process of scouting for a local team to identify opportunities in emerging technology such as artificial intelligence, internet of things, robotics across sectors that may be more relevant in India such as healthcare and fintech, beyond cab hailing alone,” said Vikram Gupta, managing partner at IvyCap Ventures.
Kalanick’s fund which will scout for innovative business models, is in line with his belief that San Francisco, Beijing and Bengaluru remain the major innovation hubs across the world and places where he is likely to make his bets.
Kalanick joins a growing rank of global technology founders who have been increasingly making investments in the Indian startup ecosystem, albeit slowly. Facebook founder Mark Zuckerberg through the Chan Zuckerberg foundation holds a stake in edutech firm Byju’s while his cofounder Eduardo Saverin has made investments both personally and through his fund B Capital in baby care firm Hopscotch and fintech startup MSwipe respectively. Former chairman of Cisco John Chambers too, announced the launch if his venture capital fund JC2 Ventures in January which will invest in startups in India among other countries.