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Binary Capital website

Jonathan Teo, co-founding partner of San Francisco-based venture capital firm Binary Capital, has offered to resign from the company, Axios has learned. Justin Caldeck, the other co-founder, had previously resigned amid sexual harassment allegations against him. The firm's third partner, Matt Mazzeo, also quit.

Investors are likely to accept Teo's resignation from both of Binary's funds. In note to LPs (seen by Axios), Teo refers to "continued questions regarding my behavior."

  • Our thought bubble: Don't be surprised to soon see one (or more) stories about Teo in the press. This is, in part, preemptive.
  • Teo to LPs: "I intend to address my personal circumstances after we determine the best course for the Funds and Binary Capital."
  • One outstanding issue: LPs want to make sure Caldbeck has legally resigned before letting Teo resign too.

Go deeper

Updated 23 mins ago - Politics & Policy

House cancels Thursday session as FBI, Homeland Security warn of threat to Capitol

Photo: Eric Baradat/AFP via Getty Images

The FBI and Department of Homeland Security predict violent domestic extremists attacks will increase in 2021, according to a report obtained by Axios.

Driving the news: The joint report says extremists have discussed plans to take control of the Capitol and "remove Democratic lawmakers" on or about March 4. The House canceled its plans for Thursday votes as word of the possible threats spread.

1 hour ago - World

Pope Francis set to make first papal visit to Iraq amid possible turmoil

Data: Vatican News; Map: Danielle Alberti/Axios

Pope Francis is forging ahead with the first papal trip to Iraq despite new coronavirus outbreaks and fears of instability.

The big picture: The March 5–8 visit is intended to reassure Christians in Iraq who were violently persecuted under the Islamic State. Francis also hopes to further ties with Shiite Muslims, AP notes.

"Neanderthal thinking": Biden slams states lifting mask mandates

States that are relaxing coronavirus restrictions are making "a big mistake," President Biden told reporters on Wednesday, adding: "The last thing we need is Neanderthal thinking."

Driving the news: Texas Gov. Greg Abbott (R) said Wednesday he will end all coronavirus restrictions via executive order, although some businesses are continuing to ask patrons to wear face masks. Mississippi is lifting its mask mandate for all counties Wednesday, per Gov. Tate Reeves (R).