In early-stage, venture-backed companies, few things are more misunderstood, and more consequential, than the board of directors. It’s tempting to treat the board as a post-funding formality: an investor representative, a founder or two, and maybe a friendly face from the ecosystem. But that mindset can quietly cap your company’s potential. A well-constructed board isn’t just a governance necessity. It’s a growth accelerant. Here’s how to build one that scales with you.
Design for the Next Stage, Not the Last Round
Most boards form reactively, based on who wrote the last cheque. But a forward-looking board composition can sharpen your trajectory, not just reflect your past.
What’s the company going to need 12 to 24 months from now?
If you’re entering Series A with product-market fit and are now hunting for repeatable go-to-market motion, consider bringing in someone with scaled GTM leadership experience. Ideally, someone who’s seen the movie before but isn’t stuck in the script.
Bring in Independents Early, and With Intention
Adding an independent board member isn’t about optics. It’s a strategic unlock. The best independents bring earned pattern recognition, not just logos on their CVs. They’ve made the mistakes, scaled the teams, and lived through downturns. They ask the hard questions without slowing you down. And crucially, they understand the difference between the boardroom and the exec room. They’re not trying to run your company. They’re helping you see it more clearly.
At Erevena, we increasingly see startups adding independents before Series B. When chosen well, they’re not just neutral. They’re gamechangers.
Keep It Lean, but Don’t Skimp on Perspective
A focused board of three to five members in the early stages makes for faster decisions and clearer alignment. But don’t mistake small for narrow. A board made up entirely of investors, or all ex-founders, can easily miss blind spots. Diverse perspectives by background, function, and geography help the company see around corners, from hiring and operations to regulation and international expansion. Intentional composition always beats reactive defaulting.
Investor Directors: Pick for Partnership, Not Pedigree
Board seats are often baked into term sheets, but not all investor directors contribute equally. The best act like true partners. They help with hiring, offer warm customer intros, and support future fundraising strategy. The less effective ones turn up quarterly, protect downside, and push updates upstream. You may not always control the board seat, but you can influence who takes it. Ask early who the fund plans to appoint. Speak to CEOs they’ve worked with. You’ll likely work with this person longer than some exec hires, so choose accordingly.
Clarify the Role: Boards Should Challenge, Not Compete
Boards aren’t there to make daily decisions, but they should help the CEO make better ones. A high-functioning board challenges thinking, balances realism with optimism, and creates accountability without micromanagement. If every board meeting feels like a report card, something’s off. The best sessions feel like working strategy, not a quarterly review.
Final Thought: Board Building Is Leadership Signalling
Who you invite into the boardroom says something about your ambition and your confidence. It reflects your appetite for challenge, your ability to attract top-tier partners, and your commitment to building a business that outlasts you. We partner with founders, investors, and leadership teams to build boards that drive scale, clarity, and strategic advantage.
If you’re planning a new board hire, or rethinking how to get more from the one you’ve already built, we’d be happy to share what we’re seeing across venture and growth markets in Europe, MENA, and the US. Get in touch via [email protected].
About the author:
Jonas Helgesson is CEO of Erevena, a global executive search firm specialising in board and C-level hiring for venture-backed and private equity-backed technology companies.
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