Startups Decoded

S2E7: Boards That Raise, How to Turn Advisors into Capital (with Breen Sullivan)


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What if founders could get the right advisor, investor, or board talent exactly when they need it, before they even ask?

In this episode, Breen Sullivan (Founder & CEO, The Fourth Effect; longtime startup GC and board leader) lays out how AI is changing founder access: surfacing who you need and when, structuring “fit-for-purpose” advisory and board relationships, and turning connections into outcomes.

We unpack why traditional networks leave too many founders behind, how to make boards growth drivers (not just governance), and how smarter, dynamic advisory models can lift retention, capital access, and founder resilience.

Chapters

00:00 Introduction to Boards and Advisories

02:49 The Role of Community in Startups

05:33 Understanding Advisory Boards

08:12 The Impact of AI on Advisory Boards

11:05 Fit for Purpose: Dynamic Advisory Relationships

14:03 Navigating Advisor Roles and Responsibilities

16:27 The Importance of Early Advisory Engagement

19:32 Leveraging Advisors for Fundraising

22:15 The Fourth Effect Platform Overview

24:58 Connecting Founders with Advisors

27:42 The Future of Advisory Boards and Capital Raising

Breen Sullivan

Breen Sullivan is Founder & CEO of The Fourth Effect and a seasoned startup executive, board member, and former General Counsel across high-growth companies. She focuses on building inclusive, ROI-driven boards and advisory networks that strengthen execution, fundraising, and leadership. She’s a leading voice on board diversity, founder access, and equitable innovation.

The Fourth Effect

Who Should Listen

  • Founders building advisory benches and early boards
  • Operators/execs considering advisor or independent director roles
  • Angels and VCs exploring advisor-investor models
  • Builders designing AI-assisted founder support workflows

Music Credit

“Neptuno” – Phondupe (Album: Onykia)

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Startups DecodedBy Andy Walsh

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