After the Term Sheet: How Venture Boards Affect the Success and Failure of Technology Companies

This white paper discusses the proper corporate governance role a Board should play in a start-up venture capital-backed organization. It is a best practices document designed to facilitate trust between CEOs and venture Board Members while keeping clear the unique and valuable role each plays in the life of a start-up. Venture capitalists’ (“VCs”) wide experiences, social network, mentoring and other resources are of at least as much value as their capital in nurturing new ventures.We believe that the quality of the interpersonal relationships between VCs, other Board Members and upper management is the key to enterprise success.