Another Time Drain For VCs: Board Seats
Venture capitalists are sitting on more boards than they were three years ago, according to data released this morning by Dow Jones and the National Venture Capital Association, and more boards than CEOs think they should. VCs think they can handle 4.6 boards for early stage companies and 5.4 boards for later stage companies -- but CEOs think those numbers should be 3.8 and 4.2. CEOs also think VCs should have less control on boards than they do, and the two groups have a different perspective on board conflicts. For VCs the top issue is "executive management searches and changes"; for CEOs it's valuation. (No surprises there). NVCA president Mark Heesen says all these conflicts are going to get worse before they get better, as the venture industry continues to contract. Get the press release here, or see full survey after the jump...
