Every raise starts with a private stage. After a successful private stage, you can close the raise or open an optional public stage.
Private stage
Invite investors from your network by email or wallet address, and set a maximum allocation for each. You can invite up to 200 investors.
Commitments are first come, first served. If the stage fills up before an invited investor commits, they can only commit what's left.
Spring can also introduce investors from its own network who are a good match for your raise. If you both want to proceed, you agree terms directly and add them to your invite list with a maximum allocation.
If the private stage reaches its minimum by the deadline, the raise succeeds. If it doesn't, the raise ends and investors reclaim their committed funds.
Public stage (optional)
Your raise stays private unless you choose to make it public.
If you open a public stage, any eligible, verified Spring investor can commit until the deadline, and the stage can be oversubscribed. After it closes, you choose which investors to accept and how much to allocate to each, up to the round's cap.
Unallocated funds are returned to investors.
Need more help?
We’ve aimed to cover everything here, but if your question isn’t answered — or you’ve spotted something that needs correcting — contact us at team@usespring.io
A member of the team will respond.