Minimum Close Amount
Floor — the smallest amount of committed capital required to legally close the round (often set in the subscription agreement) or the strategically smallest amount management would accept before re-pricing or pausing. Common pitfall: a `target_raise` of $10M and a `minimum_close_amount` of $4M tells a very different story than a target of $10M and a minimum of $9M — boards should always see both. Per common practice (NVCA Model Documents allow flexibility here), the minimum is typically 50–75% of target at seed, 70–90% at A+. — Fundraising KPI, I'mBoard-authored (editorial tier).
I'mBoard-authored (editorial tier)
No public third-party standard anchors this KPI yet, so I'mBoard authors and maintains the definition — transparently labeled as editorial tier. See the ontology methodology for the published vs editorial tier system and the back-attribution workstream.
Rogue ID: fundraising.minimum_close_amount
Type: Currency
Domain: Fundraising
Definition
Floor — the smallest amount of committed capital required to legally close the round (often set in the subscription agreement) or the strategically smallest amount management would accept before re-pricing or pausing. Common pitfall: a target_raise of $10M and a minimum_close_amount of $4M tells a very different story than a target of $10M and a minimum of $9M — boards should always see both. Per common practice (NVCA Model Documents allow flexibility here), the minimum is typically 50–75% of target at seed, 70–90% at A+.
Formula
Currency floor — typically defined in the subscription agreement or by management. Distinct from `target_raise` (the ask) and `committed_amount` (in-progress signal). Per NVCA Model Documents convention.Why it matters
Defines the round's "this is enough to ship" line. Pacing relative to the minimum is the worst-case board view; pacing relative to target is the best-case view — both matter.
How to interpret
Per common practice: minimum 50–75% of target at seed, 70–90% of target at A+. A minimum-equals-target round signals high commitment to the headline number; a minimum well below target signals optionality for a "step-down close." Triggered minimums (below floor) require management to revise scope and re-baseline runway.
Related KPIs
fundraising.target_raisefundraising.committed_amountfundraising.round_completion_pctfinance.runway_months
Source
I'mBoard editorial — authored and maintained by I'mBoard, first published 2026-04-01. No third-party standard is cited for this KPI; when one emerges, the definition is back-attributed and promoted to the published tier (a minor version bump). Read the ontology methodology for the published vs editorial tier system, attribution rules, and dispute process.
Stage relevance
| Company stage | Priority |
|---|---|
| Pre-Seed | Recommended |
| Seed | Recommended |
| Series A | Recommended |
| Series B | Recommended |
| Series C+ | Recommended |
Suggested for stages: Pre-Seed, Seed, Series A, Series B, Series C+.
Default owning functions
- Finance
Machine-readable
- This KPI as JSON:
/api/ontology/fundraising/minimum_close_amount.json - All Fundraising KPIs:
/api/ontology/fundraising.json - Full catalog:
/api/ontology/index.json
Key Milestones
Container handle for the field-array of named fundraising milestones the board should track to the close — each entry tracks milestone name, type (e.g. term-sheet signing, IC presentation, close), target date, status (upcoming / in-progress / completed / at-risk), responsible party, and notes. The "what has to happen, by when, and who owns it" surface that turns the round narrative into a tracked plan. Renders via the CollapsibleFormItemCardGallery widget (the reused gallery pattern shared with sales pipeline deals and HR key hires / openings). Common pitfall: milestones carried forward from prior packs without status updates — these should be refreshed each period so the board sees real progress, not a stale wishlist. — Fundraising KPI, I'mBoard-authored (editorial tier).
Minimum Valuation
The lowest pre-money valuation management would accept to close the current round — the valuation walk-away floor. Distinct from the precise NVCA-defined `pre_money_valuation` (the single negotiated point that actually prices the round): this is the bottom of the acceptable band the team set going in. Common pitfall: teams anchor only on a target valuation and have no pre-agreed floor, so in a soft market they negotiate against themselves with no board-sanctioned line. Pair with `fundraising.target_valuation` to give the board the band, and read both against stage-relative ranges from quarterly Carta / PitchBook reports. — Fundraising KPI, I'mBoard-authored (editorial tier).