As I catch up on my favorite blogs, it’s good to see that Brad Feld and Jim Lejeal have decided to write a blog series on Feld Thoughts about VC boards and governance issues, beginning with the basic topic of the meaning of fiduciary duty.
I look forward to reading and commenting on the series, as our industry needs more contributions to the limited body of credible and informed work on the subject of VC board best practices.
Written material from VC practitioners is particularly important, as it bridges the "reality gap" that plagues many academic attempts to look into the VC world from the sidelines.
Brad’s current initiative follows previous contributions from his partner, Heidi Roizen, to my white paper “Rites of Passage: Managing CEO Transitions in Venture-Backed Technology Companies”, which is freely available at the Levensohn Venture Partners website.
One of Brad’s other partners at Mobius Ventures, Rex Golding, joins me and a total of fourteen other VCs, VC company attorneys, independent VC board directors, CEOs, and an NVCA representative as a member of the Working Group on Director Accountability and Board Effectiveness, which I established in May 2006, to address the issue of measuring director effectiveness on venture boards.
We plan to have results from our work on this topic by the end of this year and intend to make them available to the general public.
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