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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.

Calculation policy

How an AI agent should compute this KPI from messy company data. Free-text rules consumed at reasoning time — not a deterministic DSL. The most common ways to get this wrong are listed under Common miscomputations.

Inclusion rules

The FLOOR — the smallest committed capital required to legally close the round (often set in the subscription agreement) or the smallest amount management would strategically accept before re-pricing or pausing.
A single management- / document-set figure for the active round, read as the worst-case raise alongside target_raise.

Exclusion rules

Not target_raise (the ask) — the minimum is the floor, the target is the aim.
Not committed_amount — the minimum is a fixed threshold, committed is live progress against it.
Not the minimum VALUATION (minimum_valuation) — this is a capital floor, not a price floor.

Required inputs

The subscription-agreement minimum close, or the management-set strategic floor.
The active-round target_raise for the floor-to-target ratio.

Data-source priority

The subscription agreement / round legal docs.
The board-approved fundraising plan as a fallback when no legal minimum is set.

Edge cases

A $10M target with a $4M minimum tells a very different story than a $10M target with a $9M minimum — always present both.
Triggered minimum (commitments fall toward the floor): a board-decision event — management must revise scope and re-baseline runway.
Step-down close: a minimum well below target signals optionality to close small and keep raising.

Validation checks

minimum_close_amount ≤ target_raise.
Per common practice (NVCA allows flexibility): minimum is typically 50–75% of target at seed, 70–90% at A+ — far outside that band warrants a footnote.

Common miscomputations

Confusing the capital floor with the valuation floor (minimum_valuation).
Reporting only the target and omitting the floor — hides the worst-case board view.

fundraising.target_raise
fundraising.committed_amount
fundraising.round_completion_pct
finance.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.