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Dictionary by pitch.dog
Fundraising process & investor pipeline · Working

Subsequent close

Also called: additional close

ELI5

More investors join after the first closing.

Used in conversation

“The subsequent close uses the same core terms.”

Definition

A later completion allowing additional investors to join the same financing.

Here “Subsequent close” means: A later completion allowing additional investors to join the same financing.

Pitch context

You will see “Subsequent close” in fundraising decks, data rooms, term sheets and investor conversations when the discussion reaches fundraising process & investor pipeline.

Why it matters: In fundraising process & investor pipeline, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

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Sources & evidence · 6

Direct term-level sources and supporting source families.