In venture financing and M&A, closing is the point when a deal is officially completed and becomes legally effective—meaning the parties have signed required documents, satisfied (or waived) conditions, exchanged funds and other deliverables, and ownership/rights transfer as agreed.
Venture closing: the investment is finalized and the company issues securities (e.g., preferred stock/SAFE conversion), investors wire funds, and the company can use the proceeds.
M&A closing: the transaction is consummated and the buyer acquires the shares or assets, pays the purchase price (subject to any escrow/holdback), and control transfers.
