Like so many male Silicon Valley founders, Anthony Zhang was shocked when he read that a prominent tech investor, Binary Capital’s Justin Caldbeck, was accused of harassing female founders.
And then he read that another famous investor, 500 Startups’ Dave McClure, admitted to being a “creep” towards women.
“I’ve actually gone through 500 Startups,” Zhang told Business Insider. “I knew Dave McClure personally, and had pitched Justin a few times.”
Zhang went through 500 Startups with his food delivery startup EnvoyNow, which he then sold to JoyRun for an undisclosed amount.
It troubled Zhang that he knew these investors, but knew so little about their bad behaviour.
“It was a complete blindside to not know that side of their character … before pitching them,” he said. “I got to talking to other founders and sharing stories. Lots of [stories] showed behaviour that was very biased, or flat out disrespectful. Like having five meetings, being really interested, requesting lots of information, then never calling again.”
His solution? A kind of Glassdoor for VCs where, instead of rating places of employment, people rate investors.
Zhang has spent the last month building Know Your VC, a platform where founders can anonymously or publicly submit reviews and comments for any investor.
Founders who want to leave a review or comments need to sign up (and be verified by Zhang’s team). For now, anyone can search for and read reviews for any investor.
This is one of the reviews that shows up if you search for Justin Caldbeck.
There are some obvious gaps here. There’s nothing here flagging the allegations against Caldbeck, or the fact he’s stopped investing for the time being. It’s the same for Dave McClure, who resigned from 500 Startups. Zhang said his team plan to add tags that …read more
Source:: Business Insider