iStock.com/Gremlin

Private Company Governance

Navigating the VC-Backed Boardroom as an Independent Director

By Claudia Fan Munce

06/13/2025

Private Company Directorship Magazine

Learn about the governance challenges and boardroom dynamics independent directors face on venture capital-backed boards. 

 

Venture capital (VC)-backed companies operate without the stringent governance disclosure requirements of public companies, often making their board dynamics opaque unless a high-profile incident occurs. Elizabeth A. Holmes's fraud at Theranos, Adam Neumann's unchecked CEO power ...

Thank you for your interest in this page.

Member-Only Content

For full access, please log in, or explore membership options.

Claudia Fan-Munce
Claudia Fan Munce is a seasoned venture capital investor with New Enterprise Associates. In addition, Fan Munce serves on multiple public company boards, and she is a faculty member of the Stanford Graduate School of Business, where she teaches governance of venture capital-backed companies. Fan Munce is the chair of NACD Northern California.