Caldbeck Takes Leave of Absence From Binary

Venture capitalist Justin Caldbeck is taking an indefinite leave of absence from his firm, Binary Capital, a spokesman for the firm said. The disclosure comes a day after The Information revealed that six women alleged he made inappropriate and unwanted advances to them.

In a statement, Mr. Caldbeck said “The past 24 hours have been the darkest of my life. I have made many mistakes over the course of my career, some of which were brought to light this week. To say I’m sorry about my behavior is a categorical understatement. Still, I need to say it: I am so, so sorry.”

Mr. Caldbeck said he would be “seeking professional counseling as I take steps to reflect on my behavior with and attitude towards women. I will find ways to learn from this difficult experience —and to help drive necessary changes in the broader venture community.”

Earlier on Friday, LinkedIn co-founder Reid Hoffman, responding to The Information's article, called for the venture capital industry to "actively work on building a kind of industry-wide HR function, so that venture capitalists who engage in such behavior face the same sort of consequences that they would if their overtures were directed at an employee."