Building a VC Advisory Board

  • Conformation
    The first step is to elect the individuals who will make up the advisory board. It is a relevant decision since it will be the advisory, surveillance and control body of the vehicle. The main characteristics to consider at the time of forming it are:
  • Meetings
    The frequency of the meetings and the participation of each of the members must be also defined. For example:
  • Responsibilities
    Each of the members has clear and specific responsibilities that must be fully fulfilled. Among some of them are:
  • Votes, rules, and procedures
    Like any governing body, it has established processes, as well as voting guidelines and structures. The most commons are:
  • Duty of care
    The General Partner is responsible for managing and making the investments on behalf of the partnership (GP + LP). However, there are several events where it requires the approval of the advisory board to carry them out. Hence, the advisory board has a fiduciary responsibility to the fund’s investors; some caveats around this are:
  • Investment Advisers Act

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ACV

ACV

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ACV is an international Corporate Venture Capital (CVC) fund investing globally in Startups & VC funds.