Uber co-founder starts new fund to invest in China

Uber co-founder Travis Kalanick speaks at the Boao Forum in Hainan Province on March 23, 2016. [File Photo: IC]

Uber co-founder and former CEO Travis Kalanick started a new investment fund that will involve for-profit and non-profit projects, reports thepaper.cn citing American media. 

The focus of 10100 (ten one hundred) will be "large-scale job creation, with investments in real estate, e-commerce, and emerging innovation in China and India," Kalanick wrote on his Twitter account. 

His non-profit work will center on "education and the future of cities."

Kalanick did not mention the size of his fund and a spokesperson declined to disclose more details about it.

The Los Angeles Times reports that Forbes estimated Kalanick's net worth at 4.8 billion US dollars. 

Kalanick co-founded Uber in 2009. He stepped down as CEO last year but remains a member on the company's board. 

The taxi-hailing startup began its operations in China in 2014. It sold its businesses to Chinese rival Didi Chuxing in 2016.