SeedInvest begins the first closing for a company’s fundraise once three conditions have been met:
The aggregate dollar amount of “Completed Investments,” or investments that have been funded
and have passed mandatory compliance checks, exceeds the campaign’s minimum escrow target.
The completion of “Upfront Closing Mechanics,” which are a set of due diligence and
compliance processes that must be completed before the initiation of the first closing. During upfront closing mechanics, a standard checklist requesting information, acknowledgements, and consents is sent by SeedInvest to the company. Completion of Upfront Closing Mechanics, which includes the request of, receipt of, and review of materials, typically takes about a week. You can learn more about Upfront Closing Mechanics here.
The deal has been publicly live on our website for at least 21 days to help adhere to SEC regulations and to protect investors investing earlier in the life of a fundraising campaign.
You can learn more about how long a closing takes here: https://intercom.help/seedinvest/en/articles/5632032-how-long-does-a-closing-take.