# Raise HQ: where the round stands and what is left to close

> Raise HQ and the round closing checklist are planned for after Delsivo's first release, copied from Raise HQ in Nautis. Each round gets one overview: a lifecycle from Prepare to Close, money committed against the target, the weighted pipeline and conversion by stage. A closing checklist, adjusted for a SAFE, a convertible note or priced equity, lists what must happen between agreed terms and money in the bank.

Source: https://delsivo.com/features/raise-hq-closing-checklist · Updated 2026-11-06 · Planned, not available yet

## Key takeaways

- Planned for after the first release, inside the founder's fundraising CRM.
- The lifecycle runs Prepare, Target list, Outreach, Meetings, Lead and terms, Diligence, Close.
- Committed against target is shown as a progress bar in the round's currency.
- The closing checklist changes with the instrument.
- It tracks steps. It doesn't draft legal documents or give legal advice.

## The round lifecycle

Raise HQ works out where the round is from what has happened: the deck and data room linked, the investor list built, how many investors were contacted and engaged, whether a lead is named, and how much is committed. The stages are Prepare, Target list, Outreach, Meetings, Lead and terms, Diligence and Close. A founder who sees it differently can override the stage.

## Committed against target

- Committed: the sum of commitments from investors at Committed or Closed won, against the round's target.
- Weighted pipeline: each open investor's expected cheque multiplied by the probability of their stage.
- Conversion by stage: how many investors moved from each stage to the next.
- Waiting on you: requests, interview invitations and NDAs from funds on Delsivo that need the founder.

Every figure is in the round's own currency. Currency conversion alerts are not part of the plan.

## What goes on a round closing checklist

The default items come from Nautis's closing checklist. Founders can tick, assign, add or remove items for their round.

Default closing checklist items and how the instrument changes them

| Item | SAFE | Convertible note | Priced equity |
| --- | --- | --- | --- |
| Terms agreed with the lead or first cheque | Yes | Yes | Yes, as a term sheet |
| Board and shareholder approvals recorded | Usually board only | Usually board only | Board and shareholders |
| Investor eligibility confirmed for every cheque | Yes | Yes | Yes |
| Instrument documents ready for each investor | A SAFE per investor | Note and subscription documents | Share purchase agreement and amended articles |
| Side letters and pro rata rights logged | Yes | Yes | Yes |
| Signatures, funds received, cap table updated | Yes | Yes | Yes |
| Regulatory filing after first close and closing update | Where it applies | Where it applies | Where it applies |

## What Raise HQ does not do

It doesn't draft documents, file anything with a regulator, move money or give legal or tax advice. It keeps the list of what must happen, who owns each step and what is done, so nothing is forgotten in the last week. Use a lawyer for the documents themselves. Our guide to [SAFE notes](https://delsivo.com/glossary/safe-note) and the [term sheet](https://delsivo.com/glossary/term-sheet) entry explain the instruments.

## Frequently asked questions

### Does the checklist differ for a SAFE and a priced round?

Yes. A priced round adds shareholder approvals, a share purchase agreement and amended articles. A SAFE round usually needs one SAFE per investor and board approval.

### Can I change the lifecycle stage myself?

Yes. The stage is worked out from the round's activity, and the founder can override it when they know better.

### Is Raise HQ part of the pilot?

No. It is planned for after Delsivo's first release, with the rest of the founder CRM.

## Related pages

- [How to run a seed round closing checklist](https://delsivo.com/how-to-run-a-seed-round-closing-checklist)
- [Fundraising CRM for founders](https://delsivo.com/fundraising-crm)
- [Investor CRM for founders](https://delsivo.com/features/fundraising-crm)
- [Closing checklist](https://delsivo.com/glossary/closing-checklist)
- [Cap table](https://delsivo.com/glossary/cap-table)