Independent judgement, for exactly as long as it matters

Series A and beyond: venture investors typically call for independent board representation in term sheets or shareholder agreements. For companies raising growth or later-stage capital, independent directors are now table stakes. For pre-IPO companies, independent audit and compensation committees with qualified directors are expected well before the going-public process begins. Even without investor mandate, founders benefit from an outside voice early; starting with an advisor is common, moving to a formal director as capital and complexity arrive.

A board of directors has fiduciary duty and legal accountability under corporate law. Members are elected, hold voting power and carry personal liability if governance fails. Advisory board members have no fiduciary duty, no voting power and no legal accountability; they offer counsel without a formal seat. Many high-growth companies use both: the formal board for governance, advisors for strategic counsel in specific domains. Investors typically require a formal board seat, not an advisory role.

Eight to fourteen weeks from brief to appointment is market standard. We start from a curated collective of 350+ vetted executives rather than an open search, which compresses the timeline. The actual pace depends on your side: how quickly you can brief us, meet candidates and run your own diligence before making an appointment. Rushing the process is not the goal; fit and governance contribution matter more than speed.

Boardroom contribution history matters first: has this person sat on real boards and made board-level decisions? Second, governance expertise specific to your moment: audit committee experience if you are pre-IPO; venture board experience if you are VC-backed; PE portfolio experience if you are sponsor-backed. Strategic thinking, network value, cultural alignment and regulatory knowledge relevant to your industry are close behind. Not just a C-suite title on a CV.

Typically 2 to 4 board meetings per year (1 to 2 hours each), plus pre-meeting preparation (1 to 2 hours per meeting). Committee work, if relevant, adds 4 to 8 hours per year. On-call availability for CEO or founder conversation is expected but unscheduled. The commitment rises around defined moments: a fundraise, a financing event or a major strategic decision, then settles. Experienced directors prepare efficiently and batch their work.

Compensation varies significantly by stage. Early-stage venture boards often offer modest cash retainers (USD 10,000 to USD 25,000 per annum) plus equity (0.1% to 0.5%, vesting over 3 to 4 years). Growth-stage and PE portfolio boards typically offer cash retainers (USD 25,000 to USD 50,000 per annum) plus equity or committee fees. Established private companies and boards approaching IPO offer cash retainers (USD 50,000 to USD 100,000+ per annum) plus equity. These are market benchmarks, not our terms. The best people care about the business, the team and the role itself as much as the compensation.

For mature private and public boards, the nominating committee (composed entirely of independent directors) assesses qualifications, governance expertise and board composition gaps. For venture and growth-stage companies, the founder and lead investors typically influence composition together. In all cases, the focus should be on boardroom contribution, regulatory knowledge and the governance challenge ahead, not just executive pedigree. We stress-test independence rigorously during matching.