Silicon Valley investor Justin Caldbeck is taking a leave of absence in the wake of sexual harassment allegations

Justin Caldbeck, a well-connected venture capitalist who runs the investment firm Binary Capital, is taking an indefinite leave of absence after six women in the technology industry accused him of sexual harassment as reported in The Information, an online technology industry publication.

In a statement, Caldbeck said, “It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I’ve done.”

That sentence, and the rest of the statement (in its entirety below), are a remarkable about-face from his first statement to The Information: “I strongly deny The Information’s attacks on my character. The fact is, I have always enjoyed respectful relationships with female founders, business partners, and investors,” he said at the time.

In The Information’s report, three female founders — Niniane Wang, Susan Ho and Leiti Hsu — went on the record with anecdotes about Caldbeck’s actions. They included, in one instance, groping under a table, and in another, unwanted late-night text messages.

Three other women told The Information of similar unwanted advances, but asked to remain anonymous.

Caldbeck co-founded Binary Capital in 2014 with Jonathan Teo to focus on early-stage investments in consumer startups. The firm’s investments include Snapchat, Shoptiques and the fast-growing personal-styling e-commerce company Dia & Co.

Before Binary, Caldbeck worked at Lightspeed Venture Partners, where he helped invest in Grubhub, TaskRabbit and Stitch Fix. He has also worked at Bain Capital Ventures.

The Information report came as the technology industry and venture capital world has been grappling with the ugly realization that it is often an unwelcoming and even hostile sector for women and people of color.

Just this week, Uber CEO Travis Kalanick stepped down in the wake of a series of public scandals that began just four months ago when a former engineer published her story of sexual harassment and sexism at the $70 billion company.

Here’s the statement:

The past 24 hours have been the darkest of my life. I have made many mistakes over the course of my career, some of which were brought to light this week. To say I’m sorry about my behavior is a categorical understatement. Still, I need to say it: I am so, so sorry.

I direct my apology first to those women who I’ve made feel uncomfortable in any way, at any time - but also to the greater tech ecosystem, a community that I have utterly failed.

The power dynamic that exists in venture capital is despicably unfair. The gap of influence between male venture capitalists and female entrepreneurs is frightening and I hate that my behavior played a role in perpetrating a gender-hostile environment. It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I’ve done.

I am deeply ashamed of my lack of self-awareness. I am grateful to Niniane, Susan, Leiti, and the other women who spoke up for providing me with a sobering look into my own character and behavior that I can no longer ignore. The dynamic of this industry makes it hard to speak up, but this is the type of action that leads to progress and change, starting with me.

I will be taking an indefinite leave of absence from Binary Capital, the firm I co-founded in 2014. I will be seeking professional counseling as I take steps to reflect on my behavior with and attitude towards women. I will find ways to learn from this difficult experience - and to help drive necessary changes in the broader venture community.

The Binary team will also be taking measures to ensure that the firm is a safe place for founders of all backgrounds to find the support and resources they need to change the world, without abuse of power or mistreatment of any person.

I owe a heartfelt apology to my family, my investors, my portfolio, and the team at Binary, who have been completely blindsided and in no way deserve the pain I’ve caused. But most of all I apologize again to those who I’ve hurt during the course of my career - and for the damage I’ve done to the industry I care so deeply about.