A Promised VC Partner Job Vanishes, Leading To $10 Million In Lost Income And Expenses, According To High-Profile Lawsuit

Thrasio cofounder and CEO Carlos Cashman is accused of promising, then abruptly rescinding, a partner role at a new VC firm, according to a new lawsuit from a former Founders Fund employee.In December, Stacy Chang touched down in New York City to kick off meetings with prospective investors for the new venture capital firm she had recently joined, Arrowside Capital. Just a few weeks before, Chang was a chief of staff at Founders Fund, the elite VC firm founded by billionaire Peter Thiel.

Chang met Cashman through a mutual contact, Thomas Copeman, a former entrepreneur and an early backer of Thrasio. The three traded notes on startup opportunities through 2020 and into 2021, the lawsuit claims, until in May, Copeman informed Chang that Cashman planned to provide $10 million to serve as the anchor limited partner in a new venture fund led by Copeman.

Since the suit’s filing on Tuesday, that website was updated to list Walsh as founder, managing partner and CIO. One other individual, Andrew Winton, was listed as chief operating officer. On Thursday night, afterhad reached out to all those ever named by the website for comment, the site was changed back to its “stay tuned” status, with no names associated.

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