Board Evolution in Austin's Thriving Venture Frontier

In Person | Feb 26, 2024 | 4:00-7:00 PM CST | Austin, TX

This panel explored the unique dynamics of governance in venture capital–backed companies, from early-stage startups to public companies. Panelists discussed the evolving role of board members, the transition from founder-led to professionally managed leadership, and how governance structures must adapt through different phases of a company’s growth. The conversation covered the balance between board oversight and operational involvement, fiduciary responsibilities, founder-board dynamics, valuation pressures, and how boards can add value in both early-stage and mature environments.

Key Topics Covered

• Governance in Venture-Backed vs. Public Companies: How board responsibilities, liability exposure, and cadence differ across early-stage startups, private equity–backed firms, and public companies.

• Board Formation & Founder Education: Why early-stage founders need coaching on board roles, expectations, and value alignment when accepting institutional capital.

• CEO Transitions & Leadership Evolution: How boards can support or initiate transitions from founder-led to professionally managed leadership as companies scale.

• Managing Conflicts in Capital Stacks: How boards navigate competing interests among investors in multi-round financings, down rounds, and exit strategies.

• The Role of Independent Directors: Why independent voices are essential for balancing investor influence and preserving long-term company value.

• Board Composition & Turnover: Best practices for evolving board makeup across funding rounds, including skill-based recruitment, diversity, and term structures.

• Strategic Oversight in a Shifting Landscape: How boards are responding to AI, geopolitical risk, and valuation pressures in today’s complex business environment.

Key Takeaways

• Board Roles Must Evolve with the Company: Directors must shift from hands-on builders in early stages to strategic overseers in mature phases.

• Trust is Foundational to Board-CEO Dynamics: Strong governance begins with trust, transparency, and open communication between founders and board members.

• Founder Transitions Require Empathy & Planning: Guiding founders through leadership evolution demands patience, clarity, and alignment on long-term goals.

• Governance Conflicts Are Inevitable—Manage Them Well: Board members must balance fiduciary duties to companies with investor interests, especially in down rounds.

• Independent Directors Add Critical Objectivity: Independent board members can help mediate conflict and drive alignment across stakeholders.

• Board Education is Key at All Stages: Directors and executives alike must be coached on governance fundamentals, especially in early-stage companies.

• Strategic Board Composition Drives Growth: Intentional board turnover and skillset diversification ensure boards remain aligned with evolving business needs.

Program Videos

View the complete program playlist, including the following video clips:

• Exploring Venture Capital vs Private Equity and Public Companies | Key Differences
• Navigating Challenges in Venture Capital Backed Companies
• Resolving Executive Management Disputes | Strategies for Board Members and Investors
• Diversity in Board Composition | Insights and Perspectives
• Unlocking Insights | Audience Q&A, including Board Dynamics and CEO Leadership

Panelists

Advisory Partner, LiveOak Venture Partners; Director, Bumble Inc., Q2 Holdings, Inc.

Lynn Atchison

Lynn Atchison, an experienced corporate board director in the technology industry, currently serves on two public boards. She is a member of the Audit Committee on both – Chair at BMBL, and also chairs the Risk Committee at QTWO...

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Director, Inspire Semiconductor, Inc., Vitro Technology Corp., Pecan Street Inc., Austin Community College Foundation, Texas Foundation for Innovative Communities

Mitch Jacobson

Mitch Jacobson is a Senior Advisor to Discovery to Impact and the Austin Technology Incubator at the University of Texas at Austin. He has stepped down from the leadership position of The Austin Technology Incubator...

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Managing Partner/CEO, SputnikATX

Oksana Mindyuk Malysheva

Once part of the strategic teams of McKinsey and Motorola, Sputnik ATX Managing Partner and CEO, Dr. Oksana Malysheva used her skills and passions in leadership and education to shift focus to building strategies for positive social change and innovation…

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Founding Partner, LiveOak Venture Partners; Chairman, DISCO, The Miracle Foundation

Krishna Srinivasan

Krishna Srinivasan is a co-founder of LiveOak Ventures and has been investing in early-stage Texas-based companies and entrepreneurs since 2000. His active board involvements at LiveOak…

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Thank You to Our Chapter Partner & Program Sponsor

Russell Reynolds Associates (RRA) is a management consulting firm. Established in 1969, the firm assists international and domestic companies develop leaders, assess business processes, and recruit new executives. It provides leadership, advisory, and executive recruiting services.