Tale of the Lynx (FD, Tuesday, Week 8)
founders-dilemmasyear-twoTypes of board members: insiders, angels, VCs, industry experts
Industry experts sometimes able to lend perspective to squabbles; no skin in the game.
The wider world: new venture sees their relationship with VC associate/partner who sits on board.
They do not see performance of other VC portfolio companies, VC's internal politics, or VC's relationship with LPs.
Result: lots going on in the minds of investors that new venture does not understand.
When do VC-funded startups get first non-founding CEO?
25% by close of the A round, 38% by close of the B round, 52% by close of the C round.
Good site for due-diligencing venture capital: TheFunded.com