Kalanick’s $150 million investment will buy out most other outside investors, reports Recode, citing an anonymous source.

City Storage Systems overlaps with Kalanick’s former company in the food delivery space. In Kalanick’s statement, he named food services are one industry that will be a focus (one of the company’s existing assets is called CloudKitchens), and the 15-person company already partners with Uber’s food delivery service, UberEats, according to a tweet from current Uber CEO Dara Khosrowshahi.

Kalanick left Uber as CEO in June 2017 under pressure from company shareholders. Earlier this month, he announced a personal venture fund called 10100, which he said would be focused on “large-scale job creation.” He described the City Storage Systems investment as the fund’s first “big bet” in the real estate space.

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