How do you onboard new VC board members and ensure they are up to speed and engaged?

Serving as investor director is a privelage, not a right. The fiduciary duty entails safeguarding the interests of Limited Partners. A well-structured board serves as a check-and-balance against impulsive moves by founders. It's essential for founders to communicate that they seek strategic value beyond governance. Investor directors should go beyond oversight, contributing by making introductions, opening doors, and serving as mentors. This dynamic partnership ensures fiscal discipline and aligns the founder's vision with prudent business practices. Transparency, mentorship, and a collaborative approach define this transformative relationship, where the investor director becomes a catalyst for positive change and strategic evolution.

VC has a key role in the board in getting overall insights into the administration, growth, and financial affairs of an appointed organization. He/She oversees overall vision implementation from the investor perspective and influences strategies for further investment flows from parent investors or engaging new investors to get more valuations. Addition responsibility to be taken care of in case of merger and acquisition scenarios.

As Chairman, President and CEO of VC funded companies, I recommend the following to assist a new VC Board Member:  Meet with the new Board member and provide detailed information on the company, current status, etc.  Set up meetings – in person, video or phone - with other Board members and key management personnel  Provide a copy of the Business Plan, most recent monthly financials and last year’s closing financials  Copies of the last three Board meeting minutes  Discuss the ways in which he/she can contribute, fill gaps in expertise, etc.  Gain an understanding of his/her profile of the company and his/her expectations

All directors must understand that they have a fiduciary duty to the best interest of the company and all of its shareholders. Often directors who are appointed by a VC fund assume that their role is to protect the interest of their investor. A disconnect on the Board with respect to the primary role of of directors can cause dysfunction which can impede the progress of the company.

I'm on the BOD of 6 startups, 2 things you need to do: 1) Many VC board directors serve on multiple boards. You can tap into this by asking how other companies they've engaged with handled certain situations. 2) Ask for introductions to relevant executives that can offer advice or be a sounding board; and ask about best practices they've seen from other boards. Most will be very happy to help.

Never forget to keep in mind the customer journey, not just customer feedback. You want to make sure you are capturing the entire story - not just looking at the warplanes that make it back home.

O processo de onboarding para o Conselheiro é fundamental. A empresa tem que criar um espaço e um canal para que cada Conselheiro conheça a equipe, produtos , serviços e os clientes e/ou consumidores . Para mantê-los atualizados , ciclos de workshops nos quais são apresentados e discutidos : Mercado , Competidores e Tendências. Poucas empresas criam esse ciclo estruturado para os seus Conselheiros e se baseiam apenas no repertório técnico de cada um .

Creo que una orientación Integral con historia de la empresa, su visión y misión, valores, cultura organizacional, estructura, operaciones y estrategia es clave. Asignar a cada nuevo miembro de la junta un mentor experimentado que le proporcione orientación personalizada, facilitará la integración y permitirá que los nuevos miembros se sientan más cómodos buscar clarificaciones Proporcionar documentación detallada sobre la empresa como inversiones anteriores, estrategias de inversión, cartera de empresas sirve como referencia para los nuevos miembros Sesiones de inmersión periódicas para profundizar en temas específicos, como cartera actual, nuevas oportunidades de inversión, desafíos del mercado y tendencias emergentes de la industria

One of the most valuable aspects of the board member is the feedback from their own past experiences, challenging questions and the "outside" view they give by being away from the day to day and groupthink.

Many board directors serve on multiple boards and have a deep network of other directors. You can tap in to this by asking how other companies they've engaged with handled certain situations; ask for introductions to relevant executives that can offer advice or be a sounding board; and ask about best practices they've seen from other boards. Most will be very happy to help. They want your company to be successful as much as you do.

Your VC partner is a SUPER critically important decision if you're a fast growing Start-up with first VC. So the first question is: are you picking the right partner. the next Q is how to onboard; which I think is similar to how many execs get up to speed quickly: review of key materials, direct 1:1 with key folks and deep dive in STRAT/Biz plans and P&L and R&O's...

One of the systems that keep people of color out of the capital allocation industry is recruitment via networking. It is a “birds of a feather” thing. Larger VC firms could walk their DEI talk by sponsoring and training directors from historically disadvantaged demographics and bringing them into the network.

I think this should be the first step - if a board member is not engaged in the vision and mission you may not have the right board member. Success comes to fruition when everyone agrees what success looks like. The value is extracted from the boards past experience in discovering ways to get there as the journey is not a linear path.

Definitely recognize their support and engagement. Also you can offer to add value to their network as needed. You can offer to make connections that help their network do things like hire great talent, find quality vendors, share advice on partnerships and more. Board of directors and company relationships are about the collective ecosystem and the value everyone can contribute.

Recruit directors who are members of relevant associations- Singapore Institute of Directors or Singapore Fund Directors Association. Provide D&O insurance. ask directors to maintain updated register of interests and other directorships, and review these at the start of each formal board meeting.

Spend a lot of time with them. Your actions and behaviors will be absorbed like a sponge. Values, attitude and work ethic will be replicated. Do not expect the person to magically adopt the company values without close mentorship.

When things are going well we occasionally forget that our board has contributed to that - when times are not great, it is much harder to ask for contributions - about product, strategy, distribution and perhaps most importantly our people and costs. Our approach with our various advisors has been to encourage them to continue to share the benefit of their expertise and experience - not that we will do everything recommended but so we can have meaningful conversation - leading to good thinking about what might be next - and what have we forgotten to consider. Great board members pick up on what close to the problem execs and others may fail to see.