Dave McClure has quiescent as ubiquitous partner of 500 Startups, TechCrunch has learned. We have reliable co-founder Christine Tsai asked for his abdication and he accepted, according to a minute sent to singular partners today.
We reached out to 500 Startups for criticism and they also reliable a resignation. McClure had already stepped down as CEO.
In a minute sent to LPs, Tsai says that she and a government group feel that it is in a best seductiveness of a long-term success of 500 for Dave to step down totally from all GP entities and a organisation overall. 500 has dozens of opposite investment vehicles widespread around a globe.
Tsai also says that a organisation has been done wakeful of another passionate nuisance news opposite Dave — that it investigated and dynamic was unsuitable behavior.
Tsai says that a organisation can't be certain that there won’t be destiny reports of nuisance so it indispensable to mislay Dave. But, as it can't do so but his agree as a co-founder and GP, it indispensable his cooperation. He has concluded to resign.
Over a past week, McClure has been during a core of a charge of difficulty for 500. A New York Times article summarized incidences of passionate bungle including neglected advances on owner Sarah Kunst. After a article, McClure published a open mea culpa revelation to mixed incidences of inapt function towards women in his position during 500. Just final night, 500 Startups had to apologize to a Australian partner LaunchVic for not disclosing a inner review into passionate nuisance claims opposite McClure.
There are still questions about a timing of a inner investigation, McClure’s dismissal and his continued impasse with organisation activities. More on that later.
The full content of a minute sent to LPs is below:
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