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Should VC directors on public boards run for the exit?
07/11/2007. Source:IVCJ (Israel Venture Capital & Private Equity Journal).
 Whether VC directors should continue to serve on the board of a portfolio company post-IPO is a significant question for venture firms. In this IVCJ article, Tuvia Geffen of Naschitz, Brandes & Co. examines the ramifications of both sides of the issue.
The recent departure of Michael Moritz of Sequoia from Google's board of directors has called attention again to the question whether the public board is the right place for the VC director. For Michael Moritz it took two and a half years before he left Google's public board. For John Doerr of Kleiner Perkins, the clock is still ticking. But based on a recent study, Google's board is not a representative example. According to a study published in April, 2006 by the National Venture Capital Association (NVCA) and Dow Jones VentureOne, 75 per cent of the VC directors are off the board within one year of the IPO.
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This article appeared in the Israel Venture Capital & Private Equity Journal (IVCJ). IVC Research Center publishes the Israel Venture Capital & Private Equity Journal, a quarterly review of trends and developments in the Israeli-related venture capital industry. IVCJ, distributed worldwide, is dedicated to provide wide-range coverage of Israel's venture capital industry. For more information please visit www.ivc-online.com
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