I have been told from potential investors that having a large board could be a potential hindrance to further investment. Any advice on this issue...has anyone gone through a similar situation?
The CEO is typically on the board, and/or the most senior and experienced technical (co)founder in most cases, as far as tech startups are concerned.<p>Rarely have I seen or heard of more than 2 people in total from the actual company itself on the board for at least the first several years.<p>Also, from my observations, the number of founders on the board is probably roughly proportional to the amount raised, and the perceived value of the founders. IE: it wouldn't surprise me to see a startup that raised $80MM in capital to create a new hybrid commuter vehicle, with GPS-based auto pilot, to have 3 founders on the board. As long as those founders also have previous experience/wins to justify their board seats vs. just having a really good idea.