Solo founder here, raising a seed round with a lead VC who wants a board seat. It seems straightforward for co-founders in this situation to retain control of the board, 2-to-1. As a solo founder, would this be 1-to-1 and an independent? Even if that independent is mutually agreed upon, I'd still be giving up control. How can this be structured without pissing-off the VC? Is there any precedent for this?
This quick explanation "Startup Boards: Forming & Organizing Your Board" from Kaufmann Startup School has been helpful: <a href="https://youtu.be/SEK6lbuYjnQ" rel="nofollow">https://youtu.be/SEK6lbuYjnQ</a>