It’s important to underscore the problem with funding a firm whose founders boast of a “party culture” that often blurs the lines between personal and professional. As we reported on Monday, we’ve heard at least two accounts of LPs who were warned about this culture as part of their due diligence. Not only were they not put off by it, they reportedly saw it as a bonus. The idea was this is how deal flow is generated in young, bro-y San Francisco.
A former employee is suing Binary Capital LLC for harassing and defaming her after she resigned from the venture capital firm, following recent revelations that co-founder Justin Caldbeck made unwelcome sexual advances toward female startup founders.
Binary Capital co-founder Jonathan Teo slammed the media, investor leaks and at least one of his portfolio companies in an email sent to all Binary portfolio CEOs on Saturday, more than two weeks after his former partner, Justin Caldbeck, resigned over allegations that he had sexually harassed female founders. Axios has obtained the email, which is reprinted in full.