The venture capital firm’s cofounding partner took a leave of absence on Friday after several female entrepreneurs accused him of sexual harassment. On Sunday, Caldbeck went a step further and resigned, according to an email obtained by Axios‘s Dan Primack that cofounder Jonathan Teo had sent to Binary Capital’s limited partners. In the email, Teo also noted that partner Matt Mazzeo had also left the firm and that Binary Capital had hired lawyers from white-shoe law firm Gibson Dunn to “conduct an independent internal investigation of this matter.”
Here is the beginning of the email:
I trusted my partner and it is clear that I shouldn’t have. The predatory behavior Justin has been accused of is deplorable, and there will be zero tolerance at our firm of any conduct that is demeaning to women.
Effective immediately, Justin has resigned from Binary Capital. He will have no further role at the firm and I will be the sole managing partner . . .