Passion Capital Co-Founder Resigns as Assault Rocks VC Firm

A convicted sex offender has stepped down as partner of the British venture-capital fund he helped create in a bid to ensure its survival.

A year after Stefan Glaenzer co-founded Passion Capital in 2011, he was arrested and convicted of assault on the London subway system. He has said he was severely impaired by cannabis during the incident, when he rubbed his groin against a female passenger. Last year, a Bloomberg Businessweek story questioned whether the U.K. government would continue investing in Glaenzer’s fund after heightened concerns around sexual misconduct by powerful people in technology.