500 Startups partner Elizabeth Yin resigns over McClure situation
Elizabeth Yin has resigned as a partner with 500 Startups, where she also led the venture firm's Mountain View accelerator program, Axios has learned. Her departure follows the resignation of 500 Startups founder Dave McClure, who has been accused of sexual harassment.
- Yin joined 500 Startups in late 2014, according to LinkedIn, and took over the accelerator in early 2015.
- Each new revelation of sexual harassment within the Silicon Valley startup ecosystem seems to engender another. This is not the end — perhaps not even for McClure, with word that at least one more female founder is preparing to tell a troubling story about his behavior. [Update: Here is that new accusation, which Yin alleges 500 Startups was anticipating and prompted the McClure's resignation.]
- According to Yin's resignation email, a 500 Startups employee reported "unwanted forced physical contact" by McClure in April of this year and, after an internal investigation, Yin was told in mid-May that he would be stepping away from his management role. However, Yin claims this was never communicated to the broader organization.