Amidst the coming forward of other alleged victims of #Sexual Harassment, the founder of the start-up funding company #500 Startups has now publicly apologized for his actions and has officially stepped down from his position within the company. Dave McClure posted an apology on social media, which was titled "I'm a creep. I'm sorry. The 51-year old Silicon Valley angel investor explained that his behavior was inexcusable and was wrong and in the best interest of the company he has decided to step down.

Exposed misconduct

The entire issue was brought to the public attention when The New York Times published a report last week regarding one of the McClure's encounters with a female entrepreneur who was lured in by a possible position at 500 Startups.

Advertisements
Advertisements

The report accused McClure of sexually harassing Sarah Kunst, the chief executive officer of the fitness start-up company Proday, who revealed to the publication her experience. McClure apparently approached Kunst to offer her a possible position at the company.

Coming forward

Following The New York Times' report, a partner at the 500 Startups company also sent in her resignation over the weekend accusing the company of covering up different sexual harassment episodes involving McClure. Elizabeth Yin then sent out a letter to detail McClure's inappropriate behavior at the company, which included initiating unwanted physical contact with female employees.

More revelations from other alleged victims shortly followed.

Advertisements

Cheryl Yeoh, who is also an entrepreneur posted her experience online about getting inappropriate messages from McClure. Yeoh revealed that she was propositioned by McClue in 2011, which was then followed by a physical assault in 2014. Yeoh further mentioned in her post that McClue's use of his power as a venture capitalist to repeatedly make sexual advances at women makes him more than just a creep.

The company responded to Yeoh's revelation and told her that they appreciated her coming forward and that they understand how difficult and upsetting it must be for her to relive that experience.

Knowing about the problem

Earlier in the week, 500 Startups issues a statement that revealed that they were actually aware of McClure's actions within the company since April. Several allegations of sexual harassment and inappropriate behavior had been filed against him, which had prompted them to conduct an internal investigation. The company apparently kept everything under wraps due to the "sensitivity of the personnel issues and privacy."