Tata Private Equity fund invests in US based company Uber [ Current Affairs ]

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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

About Uber:

  • 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