Definition
A fundraising approach where a startup accepts investor commitments and transfers shares on multiple dates instead of a single closing. It's like a progressive dinner party for term sheets.
Example Usage
We used a rolling close for our seed round, bringing in tranches as investors completed due diligence over three months.
Origin
Common in private placements, became popular with SAFE notes in the 2010s
Fun Fact
Rolling closes let startups access capital faster but create administrative nightmares with multiple closings and cap table updates.
Source: Startup fundraising mechanics terminology
Related Terms
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See “rolling close” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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