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Lightspeed says it ‘should have done more’ when one of its entrepreneurs complained about Justin Caldbeck

The VC has since resigned from his current firm, Binary Capital.

Photo of Justin Caldbeck
Former Lightspeed VC Justin Caldbeck is under fire for his behavior.
Screengrab from YouTube
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.

Lightspeed Venture Partners, the venture capital firm where disgraced startup investor Justin Caldbeck once worked, says “it should have done more” when one of its portfolio companies approached them with a complaint.

Caldbeck worked at Lightspeed from 2011 to the first half of 2014, according to his LinkedIn profile, and later co-founded a new firm, Binary Capital, in 2014, but has since resigned.

Caldbeck has come under fire in the last week since The Information published the story of six female founders — including three who went on the record — who said Caldbeck had made unwanted sexual advances and, in at least one case, groped them.

This story is developing, but here is Lightspeed’s short statement, made on Twitter. Lightspeed does not say what changes it might make to its policies in the wake of this news.

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