Close a funding round in Cap Table

Reconcile the model before closing

Use Round modeling to finalize the proposed valuation, new investment, and pool target. Check holder records, convertible terms, class rights, and current plan capacity against the signed financing records.

A saved scenario is a set of assumptions. Closing applies records to the company. Export a backup and resolve unexplained model differences before starting the close workflow.

Select the class, investors, and plan

Choose or create the preferred share class for the round. Allocate the new investment to the actual investors, using existing stakeholders where appropriate. Confirm the total allocation matches the proposed investment. A pro-rata check elected in the model arrives as a locked row for its holder and amount; change the election in Round modeling, not here. A new class can carry dated participation-cap and dividend terms from the start.

Select the destination equity plan for a pool top-up and review its terms. A company-wide target does not identify which plan should receive the reserve increase. The closing date defaults to the model date; choosing another day prices the round again on that day, and a date on which a right or election no longer applies is refused with the reason.

Review all proposed records together

Read the preview of new-investor certificates, conversion certificates, converted source instruments, and the reserve change. Review any anti-dilution adjustment in the model. Check names, quantities, prices, and effective dates rather than only the post-round percentages.

Integer share counts and rounding can differ from a financing spreadsheet’s intermediate precision; the review states what the checks add up to against what the whole shares are worth when they differ. Reconcile final quantities and monetary allocations before confirming. A restore point is taken before applying the close.

The close is held to its model. If the cap table has changed since the scenario was saved, the model refuses to close until the scenario is saved again; if a confirmed check, conversion, adjustment or top-up differs from what the model says for the closing date, the close is refused and nothing is written. Each certificate records the financing it belongs to, the assumptions it was priced under, the pro-rata right it satisfies or the MFN election applied to its source, and the same financing cannot be closed twice.

Verify the result and retain the evidence

After the save completes, inspect the post-round cap table, investor statements, linked converted instruments, plan balance, and History. Export the final report with its basis and date.

The workflow records the financing; it does not sign agreements, obtain approvals, or transfer investment funds. If a save is interrupted, follow recovery prompts and inspect the result before trying to close again. See Troubleshooting and recovery.