Board seat / observer
A right to a seat (and vote) on your board, or to observe without voting.
Board composition decides who really controls big decisions — guard it more carefully than a point of valuation.
Hear it from people who've done it
Get the real-world version of "Board seat / observer" drawn from hundreds of conversations with founders and investors.
Ask the Network →Episodes on Venture Capital
First Cheque with Cheryl Mack & Maxine Minter · 28 September 2026
Why Australia Has More AI PhDs Than Anywhere | First Cheque
Investment Thesis with Kali Norman · 18 September 2026
Mick Liubinskas' Investment Thesis
First Cheque with Cheryl Mack & Maxine Minter · 31 August 2026
Trust Over Likability: How Charles Hudson Built a 450-Company Portfolio
Term sheet
A short, mostly non-binding document setting out the key terms of an investment before the long-form legals.
Preferred shares
The share class investors usually take, with extra rights over ordinary shares — preferences, votes, protections.
Information rights
An investor's contractual right to regular financials and updates from the company.
← Back to the full glossary
Want a show like this for your fund or company?
We're W2D1 Media — the team behind the Day One Network, and we helped build Blackbird Ventures' Wild Hearts. We turn podcasts into trust, authority and pipeline.