ConsenSys settles with former VC head Gupta for undisclosed ‘millions’

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Ethereum major player ConsenSys AG (CAG) reached a settlement with its former venture capital chief Kavita Gupta last week, reportedly worth millions of dollars.

Citing persons familiar, CoinDesk puts the settlement between $3 million and $10 million.

Gupta had been embroiled in a fierce legal battle with the Ethereum backer. She previously headed up the company’s venture capital arm between 2017 and 2019. 

“ConsenSys Mesh and Kavita Gupta have agreed to settle their respective litigations against each other,” said a CAG spokesperson (via CoinDesk).

“The parties agree that ConsenSys Mesh has not breached any of its contractual obligations to Ms. Gupta.”

Gupta says ConsenSys bullied her

In December last year, Gupta sought $30 million in monetary damages after the Brooklyn-based firm allegedly bullied her. 

In her complaint, Gupta claims to have grown ConsenSys’ coffers from $13.75 million to approximately $300 million.

She alleged that relations soured when it was time for her to get paid. That was when CEO Joseph Lubin turned on her, she said.

“Lubin’s motivation is clear — he and Gupta are the sole general partners of the fund. Every dollar that Gupta does not receive goes into Lubin’s pocket,” the complaint said.

Indeed, the Ethereum giant hit back with its own allegations, suggesting that Gupta tricked her way into the job by lying about a Harvard degree.

Earlier this year, a complaint filed in Delaware stated that Gupta duped CAG into hiring her “by claiming to have stellar qualifications.” That turned out to be fake.

ConsenSys claimed that the ex-VC chief’s “toxic and abusive personality” resulted in lost business and personnel leaving the company. 

“Gupta proved incapable of even basic tasks, much less of co-managing a venture capital fund,” said ConsenSys.

“Gupta also proved to have a toxic and abusive personality that further called her claimed credentials into question, and which caused ConsenSys to [lose multiple employees], who chose to quit rather than work with Gupta.”

Talking to CoinDesk, Gupta trashed ConsenSys’s rebuttal as an attempt to “take away my reputation” and “a public mockery.”

Read more: [ConsenSys to buy more Ether, revamp MetaMask with $450M raise]

According to her LinkedIn profile, Gupta has also worked for the US chamber of commerce and Fintech.TV.

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