'Over the past few months I've started thinking about what's next. "It will be overseeing my for-profit investments as well as my non-profit work", he said.
'Our non-profit efforts will initially focus on education and the future of cities'.
VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Moreover, Travis Kalanick will use this fund to invest in real estate, e-commerce, and "emerging innovation" in India and China.
Kalanick was not immediately available to respond to queries about his new venture.
Travis Kalanick announced on Wednesday that he is starting his own investment fund. The controversies came to light broadly due to a blog post put out by former employee Susan Fowler and ultimately triggered an internal investigation that was conducted by former U.S. attorney general Eric Holder.
Kalanick's announcement comes after he agreed to sell 29 percent of his stake in Uber to SoftBank, which is looking to acquire 15 percent of the company from various shareholders. According to Forbes, Kalanick's net worth is $4.8 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.
He was forced to quit as Uber's CEO following a flood of allegations, including that he indulged in unethical business practices and supported staff accused of harassing female employees at the San Francisco-headquartered company.