Venture firm co-founder Dave McClure resigns over 'inappropriate' behavior

Reuters News
Posted: Jul 03, 2017 5:20 PM

By Salvador Rodriguez

SAN FRANCISCO (Reuters) - Prominent Silicon Valley investor Dave McClure said on Monday he had resigned from his position as a partner at the venture capital firm 500 Startups following allegations of sexual harassment.

McClure’s resignation comes after entrepreneur Sarah Kunst accused the investor of misconduct in a New York Times story published on Friday. Kunst said McClure sent her inappropriate Facebook messages after she’d sought a job at the firm.

“In best interest of @500Startups & at request co-founder @christine_tsai, i am resigning effective immediately,” McClure wrote on Twitter. The firm confirmed the resignation.

Following the Friday report, 500 Startups initially responded by demoting McClure from his role, saying he would no longer be involved in the firm's day-to-day operations. But pressure for his resignation mounted throughout the weekend.

Kunst said on Twitter that several women had contacted her in recent days to describe similar experiences with McClure. In a later tweet, Kunst called on him to resign from the firm he co-founded in 2010.

“I'm grateful that the tech community rallied around myself and the other women harassed by Dave McClure,” Kunst said in an interview via Twitter on Monday.

McClure’s resignation comes after a number of women in tech have begun to speak publicly about gender discrimination and to identify specific individuals who they say are guilty of sexual harassment.

(Reporting by Salvador Rodriguez; Editing by Gabriella Borter)