The board of directors has an important role in a company, acting as representatives for stockholders while making decisions for the company and putting in place corporate management policies. The number of individuals on the board can vary, as the structure and powers of the board are determined by the corporation’s bylaws. But it’s not uncommon for a venture fund investing in a startup to want to designate one of its members to the board. This can be a way for the fund to remain informed and maintain influence in the corporate decision making. Read more.