Creating a Funding Close

A funding close is created by an admin when there are funded investments in an SPV ready to be settled. Creating a funding close is Step 1 of a two-step process:

1. Create -- group funded investments into a batch (this page)
2. Settle -- finalize the batch and notify investors (see Settling a Funding Close)

After creating, you must come back and settle the close to finalize the investments.

How to Create a Funding Close

An admin creates a funding close from the SPV's page in the admin panel. The process:

1. Navigate to the SPV
2. Use the Create Funding Close action
3. The system creates a new funding close with the next sequential close number (e.g. if Close #1 already exists, the new one is Close #2)

What Happens Automatically

When a new funding close is created:

1. Auto-assignment -- all funded, unassigned investments in the SPV are automatically assigned to the new funding close. "Unassigned" means the investment isn't already part of another funding close.

2. Close number assigned -- the close gets the next number in sequence (Close #1, #2, #3, etc.)

3. Status set to Active -- the new close starts in the "active" state, ready for review and eventual settlement.

Prerequisites

• The SPV must be open (status: pending) -- you can't create a funding close for a draft or closed SPV.
• There should be funded investments -- while you can technically create an empty funding close, it's only useful if funded investments exist to be assigned.
• No other active close -- there can only be one active (unsettled) funding close per SPV at a time. If an active close already exists, settle or cancel it first.

What Admins Should Know

• Creating is not settling -- creating a close groups investments into a batch but does not finalize anything. The investments are still editable and the close can be cancelled without affecting them. Settling is the irreversible step.
• Timing is your choice -- there's no automatic trigger for creating a funding close. You decide when enough funded investments have accumulated to warrant a batch settlement.
• Auto-assignment saves time -- you don't need to manually add each investment. All funded, unassigned investments are automatically included.
• Review before settling -- after creation, review the assigned investments to make sure everything looks right. You can add or remove investments before settling (see Managing Close Membership).
• Close numbers are permanent -- even if a close is cancelled, its number is used. The next close gets the next number in sequence.
• Action-needed banner -- when an active close exists on an SPV, the admin panel shows a prominent banner reminding you to settle it.