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Binary co-founder blames "corrupted" media for his resignation offer

Binary Capital co-founder Jonathan Teo slammed the media, investor leaks and at least one of his portfolio companies in an email sent to all Binary portfolio CEOs on Saturday, more than two weeks after his former partner, Justin Caldbeck, resigned over allegations that he had sexually harassed female founders. Axios has obtained the email, which is reprinted in full after the jump.

Some highlights:

  • Teo remains managing partner of Binary Capital, as its limited partners have not yet accepted his offer to resign.
  • Teo says that his resignation offer was not based on any personal failings, but rather was intended to stop a news cycle "by giving the blunt-tooled media activists what they wanted." He also writes: "The news we read and have access to is a problem. Media has been corrupted."
  • Teo claims only one entrepreneur has asked to buy back shares from Binary, and says that those who choose that route are engaged in "opportunistic grandstanding."
  • Teo lashed out at an investor who he believes has been leaking information to the media (psst Jon, it's more than one), and repeatedly complains about "whiners" who want to be "coddled."
  • He says he is "angry" that women have been hurt, although he also says it is "moronic" that some believe only a woman should be chosen as Binary's next general partner.