Additional Close - US Syndicate SPV

If you would like to invite additional LPs or have your LPs invest additional amounts after the target investment has already been deployed, Carta offers the possibility to have an additional close. Here are details on the restrictions related to additional closes for Syndicate SPVs:

The additional investment must be on the same terms as the first close;
Same portfolio company
Same investment/asset type (e.g., SAFE, same series of preferred stock, etc.)
Same terms, including price per share (if applicable)
The additional close must take place within the same tax year as the first close, and must be completed within 3 months after the first close.
The Purchase Agreement will need to be updated and executed, adding up the allocation amount related to the new close. An amendment may also be accepted.