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No board member should be grandfathered, guaranteed a board seat forever. Practically speaking, this is an impossible goal. We have investigated the restrictions imposed by investment documents and the obvious need to keep continuity on the board with the retention of the CEO position at the very least. But it would be the best of form to require in the bylaws of a corporation that all seats are re-elected annually.
Pitbull Ventures, the early-stage venture capital firm founded by prominent investor Brad Zions, today announced the close of its $5M Fund I. The fund, which is looking to fuel the growth of pioneering startups in the region and take LA’s tech scene to new heights, invests in pre-seed AI-enabled vertical SAAS startups with early traction. Founder […] The post Pitbull Ventures Closes $5M Fund To Help The Next Generation of Vertical SAAS Companies appeared first on StartUp Beat.
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