DN Capital cofounder and managing partner Nenad Marovac has returned to work, following allegations published by Sifted about sexual harassment and workplace misconduct last year.
Two sources with knowledge of the firm’s operations tell Sifted that Marovac has returned to day-to-day operations at the firm and is being invited to industry events.
It follows the conclusion of an externally led investigation into the allegations published by Sifted in August. DN Capital told Sifted that the findings of the review of workplace conduct at the firm — conducted by the law firm Withers — “did not match” the claims published by Sifted, and that those claims were “unreliable.”
The summary of Withers’ findings, written by DN Capital, made no mention of Marovac — who was the focus of the allegations published in August.
Sifted asked DN Capital why Marovac’s conduct was not mentioned in the review, and to see the original findings sent to the firm by Withers, or be given permission to interview the lawyer who led the investigation. DN declined to give any further comment or information.
In August a spokesperson for DN Capital said that Sifted’s “allegations do not reflect the culture at DN Capital and they have been categorically denied by our founder Nenad Marovac. In the 23 years that DN has been operating there have been no informal or formal complaints of inappropriate conduct from current or former staff.”
A spokesperson for Marovac at the time of the publication of the allegations in Sifted said he was “shocked, disappointed and saddened to learn of the allegations” and said they did not reflect him as a person nor the culture at DN Capital. “The allegations which have been made by Sifted are anonymous and often in vague and general terms,” the spokesperson said, adding that it wouldn’t be appropriate to comment while an investigation is underway.
The investigation
The firm told Sifted that Withers interviewed 46 current and former employees, and had access to historical internal documents and email communications. DN added that Withers had concluded that the firm had made a “conscious effort” to improve the gender diversity of its team and to support “the development and promotion of women.”
The firm also told Sifted that it has introduced a whistleblowing system and a new DEI training programme for its staff.
DN did not answer whether or not it had communicated the full findings of the investigation to its own investors.
Two former employees who alleged sexual harassment and misconduct at DN to Sifted and participated in the investigation by Withers say that they have not been communicated any of the findings.
“I feel my participation was a total waste of my time and energy,” one said.
DN Capital did not provide a response.
