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Glossary

Follow-on reserve

A follow-on reserve is the portion of a venture fund's committed capital that the fund intentionally holds back for future investments in companies it has already backed.

Accurate as of Jun 5, 2026

Fund MechanicsCapital Financing

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Related terms

All 185 terms
Co-investmentCo-investment is an investment made alongside another investor, usually a fund, lead investor, financial sponsor, or syndicate lead, into the same company or transaction.Dry powderDry powder is capital that an investor or fund has available to deploy but has not yet invested.Final closeFinal close is the final transaction date that ends a fundraising process and locks the committed capital for that fund or round.

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Usage can vary across firms, programs, and jurisdictions; this definition describes the venture-scouting context.