There are a series of factors (geographical proximity, prior relationship with founders, network size, etc.) that make it more likely for an investor to get a board seat during a fundraising round. When VCs do serve on the board the companies are more likely to hire managers and other Directors from the VCs’ network, especially if the VCs have strong track records. Relationship-based exits are also more likely.

Human capital value added, VC-backed boards, VC presence on boards, VC value added

Do VCs receive board seats? When they do, do they take actions that help the company grow?