Board of Directors
The group legally responsible for overseeing a company’s direction and governance.
As startups raise, investors often take board seats, formalising governance. The board sets strategy, approves budgets and major decisions, and holds management accountable. Founders should understand board composition and how control shifts as they raise.
Examples
A seed round adds one investor director to a two-founder board. — The board approves the annual budget and hiring plan.
How it relates to The Startup Foundry
The Foundry’s Learn/Improve content explains governance so founders manage board dynamics confidently as they raise.