As your company moves through a Series A raise—typically £3m to £10m—it’s often the first time you’re building a fully functioning board. For many founders, this is when the board evolves from a close-knit management group into a more formal structure that includes independent non-executives. Among these, the appointment of your first Chairperson is especially pivotal.
But the demands of a Chair in a high-growth tech business are very different from those in a mature corporate or listed company. This role isn’t about prestige, box-ticking, or simply chairing meetings—it requires a far broader skill set, deeper involvement, and a real alignment with your growth ambitions.
Here’s what our recent ‘Snap Survey’ of funds and tech founders at the growth stage had to say.
1. A Chair Who Thinks Like an Investor
“The Chair of a growth business needs to think and behave as an investor.”
This role goes beyond governance—it requires real engagement. The Chair must:
- Spend considerable time around board meetings, mentoring and advising the CEO/founder.
- Hold the CEO to account when necessary, while supporting their leadership.
- Understand the industry, ideally having been a CEO in a similar space, and grasp both the levers of growth and the blockers.
- Prioritise commercial outcomes over process or pedigree.
Boardroom experience alone isn’t enough—what matters most is knowing what will make the business grow.
2. Growth Over Governance
“Growth businesses need to be nimble, not corporate.”
The Chair of a scaleup must behave differently than a Chair in a listed business:
- Facilitate constructive debate and balance stakeholder interests.
- Provide strategic clarity and act as a trusted sounding board – a calm, honest advisor—especially when the company hits challenges or needs to pivot.
- Manage investor relations—particularly in moments of tension or uncertainty—while representing shareholder interests with credibility and balance.
- Help align the board, mediate between founder vision and shareholder expectations, and prepare for future funding or exit.
- Importantly: create space for the CEO to lead, while being ready to step up during significant events.
“Introductions to potential customers? That’s not top of my list as this rarely lasts more than the first few months.”
3. Bring Experience That Matches the Journey
“Experience in building a business of a similar scale/plan—e.g., from £2m to £20m ARR—is critical.”
Look for Chairs who bring:
- Operational experience in your key strategic areas—whether that’s go-to-market, team building, international expansion, M&A, etc.
- The ability to zoom in and out: to direct strategic conversations while engaging with detail when needed.
- A desire to diagnose and address the root causes of both problems and opportunities.
- Prior VC/PE experience—and success in that arena.
- Willingness to roll up their sleeves temporarily when needed, e.g., during process gaps.
- Personal fit with both the executive team and investors is a given.
- The means and motivation to invest alongside you.
4. Support That Evolves With the Business
“Provide knowledge from experience in professionalising and scaling.”
Your Chair should:
- Help open doors at senior levels, particularly with strategic partners.
- Offer insights into growing and exiting a business like yours.
- Actively support funding and exit conversations as they emerge.
- Contribute to strategic vision while remaining grounded in the operational realities of the business.
5. Strategic Insight, Delivered with Empathy
“Brings deep, relevant expertise aligned with the company’s stage, growth trajectory, and sector.”
A great Chair doesn’t just show up—they add clarity when it matters most. They should:
- Offer mentorship and clear-headed advice tailored to the CEO and leadership team.
- Combine strategic vision with emotional intelligence—especially in high-stakes moments.
- Bring legal fluency around deal structuring and risk, helping avoid common pitfalls.
6. Quiet Confidence, Strong Presence
“Strong trust builders who build a genuine relationship with the CEO and other key stakeholders, offering constructive dialogue.”
The most effective Chairs:
- Have low ego but with high standards—focused on enabling the success of others, not needing to be ‘seen’ to be successful themselves.
- Are robustly independent – very clear that they are representing various sometimes opposing stakeholders including the CEO, management, shareholders, the business etc.
- Disciplined in value creation, strategic planning, and financial analysis.
- Are capable of leading board meetings that are efficient, fair, and productive.
7. Board Leadership That Adds Value
“I prefer a Chair not to be too overbearing.”
You want someone who:
- Stays non-executive but actively drives productive board discussions.
- Brings relevant experience—whether from industry, product, client, or tech perspective.
- Ensures board meetings are focused, actionable, and value-adding.
8. Governance That Supports Growth
“Governance shouldn’t stifle agility.”
Yes, governance matters—but in a scaleup, it must support momentum. Your Chair should:
- Ensure accountability to milestones, manage risk, and uphold legal compliance.
- Help the business remain agile and opportunity-ready.
- Add credibility with external stakeholders, especially investors.
- Expand your network and help you engage senior influencers in your customer base.
- Understand SaaS models and guide strategic thinking accordingly.
In Summary: What to Prioritise
There’s no perfect Chair—but the most successful scaleups are led by boards where the Chair brings the majority of these qualities. Founders and investors alike consistently prioritise:
- Relevant industry and technology experience
- Strong financial and strategic acumen
- Deep understanding of early-stage dynamics
- Boardroom alignment and investor relations
- A balance of independence, empathy, and trust
- A committed, collaborative relationship with the CEO
Don’t settle for less. The right Chair can be a transformative partner on your scaleup journey—one who grows with the business, not just alongside it.
Many of the ScaleUp Group Partners are active Chairs for SaaS and tech scaleups—bringing firsthand experience of the journey from early traction to exit. Their backgrounds span founding, scaling, and successfully exiting high-growth businesses, giving them a deep understanding of the challenges you face as a founder. As a ScaleUp Group client, you’ll have access to this collective powerhouse of experience—trusted advisors who’ve been in your shoes and know what it takes to grow, lead, and win.
Take a look at their profiles to see how their entrepreneurial journeys led them to ScaleUp Group—and how they now help the next generation of tech leaders grow with confidence.
