VC Firm Binary Imperiled After Co-Founder Admits Misconduct
- Co-founder Caldbeck resigns, says used power for ‘sexual gain’
- A second Binary partner, Mazzeo, also quits, leaving just one
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The fate of venture capital firm Binary Capital LLC hung in the balance after co-founder Justin Caldbeck admitted misconduct toward female entrepreneurs.
Caldbeck, a Binary Capital co-founder, apologized on Friday and resigned late Sunday after a report by The Information detailing his sexual advances to women seeking funding.