Venture Veterans Jonathan Teo and Justin Caldbeck Launch $125M Fund
Former General Catalyst managing director Jonathan Teo and ex-Lightspeed Venture Partners director Justin Caldbeck have successfully closed their debut $125 million fund for Binary Capital, their newly formed investment firm. The milestone follows their March 2014 announcement to establish the venture partnership.
A Track Record of Early-Stage Success
The duo brings formidable expertise in identifying high-potential consumer tech startups, having previously backed:
- Snapchat (now Snap Inc.)
- Instagram (acquired by Meta)
- Whisper (anonymous social network)
- TaskRabbit (acquired by IKEA)
Investment Strategy: Fueling the Next Wave of Consumer Tech
Binary Capital plans to deploy capital strategically:
- Check Size: \(3M–\)5M per investment
- Focus Area: Consumer-facing technology companies
- Stage: Primarily early-growth opportunities
This approach leverages Teo and Caldbeck’s proven ability to spot disruptive trends before they reach mainstream adoption. Their new fund positions them to cultivate the next generation of market-leading platforms.
Source: TechCrunch, Recode
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