Tata Private Equity fund invests in US based company Uber [ Current Affairs ]
About Tata Private Equity Fund: Private Equity and Venture Capital funds managed by Tata Capital with collective resources with approximately 1 billion dollars. The funds invest in many businesses for more growth and profitability of the company.
There are five funds run by Tata Capital which are:
- Tata Capital Growth Fund
- Tata Capital Healthcare Fund
- Tata Capital Innovations Fund
- Tata Capital Special Situations Fund - Trust
- Tata Opportunities Fund
- Uber is US based transportation network company.
- It’s headquarter is in San Francisco of California.
- Uber was started as “Uber Cab”.
- It was founded by Travis Kalanick and Garrett Camp in 2009.
- It provides taxy based transportation to the customers who booked for it.
- Customer can submit a trip request online by using smartphone.
About investment in Uber of Tata Fund:
- Tata Opportunity Fund is going to invest 150 Crore rupees in US based company Uber.
- Earlier Uber decided to invest 50 million dollars in Hyderabad.
- Uber is piloting cash payments in Hyderabad which is a first step in its global operations.
- Uber has also added auto rickshaws to its platform as part of its efforts to expand services in India.
- Uber will use this investment to expand and improve operations and develop new products as well as payment solutions and improve support network.
- Published on: August 20, 2015