Sexual Misconduct at VC Firm Binary Capital Was Pervasive, Lawsuit Says
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The problems at Binary Capital, a venture firm felled by allegations of sexual misconduct, went much deeper than previously known, a lawsuit against the firm alleges.
Ann Lai, who was a principal at the San Francisco-based firm until May 2016, claims further incidents of bad behavior by Binary Capital’s founders, Justin Caldbeck and Jonathan Teo, in a new filing Tuesday. As part of her ongoing lawsuit, she alleges that the two men demanded headshots of female job applicants to evaluate their attractiveness. They discussed holding a no-clothes retreat for employees, she said. They eventually held a poolside event at a Napa hotel, where attendees wore bathing suits, and an underage intern was given alcohol, according to the complaint.