CFO & Strategy
Operating Structure & Corporate Governance
Collated by Harry Prabandham
Curated by Rubric Financial
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Board Composition by Stage
- Pre-seed/Seed: 1-3 founders on the board, no investor seats yet — keep the board small and agile for fast decision-making
- Post-seed with lead investor: typically 2 founders + 1 investor, or 3 founders with an investor observer seat
- Series A: 2 founders + 1 lead investor + 1-2 independent directors — independents become critical for tie-breaking and governance credibility
- The board approves major decisions: fundraising, M&A, executive compensation, option pool increases, and material contracts
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