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Binary Capital

Binary Capital

Binary Capital was an early stage, consumer-focused venture capital firm founded in 2014. It had over $300 million under management.

Company Overview

Binary Capital is out of business. It was a venture capital firm specializing in very early stage capital. They invested in consumer technology. Binary Capital was founded in 2014 and was based in San Francisco, California. It was established by former General Catalyst Partners' former managing director Jonathan Teo and former Lightspeed Ventures managing director Justin Caldbeck. Together, they have raised a $125M fund and invested in startups in sums of $3-5M. 

History

Founded in 2014, Binary Capital is a venture capital firm that specializes in early-stage investments. The firm focused on investing in companies operating in the field of consumer and service sectors. The firm was headquartered in San Francisco, California. The firm focused on early-stage consumer technology companies. The founders' previous investment experience includes roles at General Catalyst Partners, Benchmark Capital, Lightspeed Venture Partners, and Bain Capital Ventures.



Binary's first fund managed $125 million. Their second fund was slated to manage $175 million, although, in the wake of co-founder Justin Caldbeck's sexual harassment scandal, the fund's limited partners voted to shut it down. In June 2017, Caldbeck took an indefinite leave of absence following allegations of unwanted sexual advances by several female startup founders. Although Bloomberg reported that the fund would shut down, it remained in operation with Mr. Teo as Managing Partner. In March 2018, venture capital firm Lerer Hippeau took over the management of Binary's first fund. The firm completed the takeover of Binary's second fund in April 2018.

Investments

Binary Capital has made 16 investments, one of which was on Jun 15, 2017, when they invested $10.5M in Atrium LTS. Binary Capital has had 1 exit, which was Swipe Labs. Binary Capital has raised a total of $300M across 2 funds, one of them being Binary Capital Fund II. This fund was announced on Aug 1, 2016, and raised a total of $175M. Binary Capital has had $3.9M in revenue annually.

Timeline

2014

Binary Capital founded

They were an early stage, consumer-focused venture capital firm with over $300 million under management.

Funded Companies

1 Result
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Company
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Description
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A company offering a platform for booking 4-5 star hotels that allows customers to only pay for the time they need.

Associated investment funds

4 Results
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Total sold (USD)
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Location
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Date signed

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Companies

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