Binary Capital's Jonathan Teo Offers to Resign From Venture Firm
Jonathan Teo, right, and Justin Caldbeck, co-founders of the venture firm Binary Capital, in 2014.
Photographer: Peter DaSilva/The New York Times via ReduxThis article is for subscribers only.
Binary Capital LLC’s Jonathan Teo told investors he’s willing to step down from the venture capital firm he helped start in the wake of revelations that his co-founder Justin Caldbeck made unwelcome sexual advances toward female startup founders.
Teo’s proposed resignation followed a vote by investors this week to suspend operations of both the firm’s funds. Caldbeck resigned on Sunday after apologizing for his behavior.