Carry
Also called carried interest
Carry is a performance-based share of profits, not a salary and not a management fee.
Canonical Upseed vocabulary
Startup glossary
Plain definitions for the funding, ownership, program, metric, and ecosystem language you encounter while building or backing a startup.
Fund Mechanics
8 terms
71 reviewed definitions in the current glossary
C
D
F
Final close
Final close is the final transaction date that ends a fundraising process and locks the committed capital for that fund or round.
First close
First close is the initial legal closing that turns fundraising commitments into an active fund or financing.
Follow-on reserve
Also called reserves
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.
S
Scout carry
Also called scout economics
Scout carry is the carried-interest upside a venture scout receives for sourcing, referring, or directly investing in a startup on behalf of a venture fund.
Syndicate
Also called angel syndicate
A syndicate is a coordinated group investment into a deal, typically led by one investor and funded by multiple backers.
Source and update disclosure
Know what this page is based on
Source basis
Every published term requires an Upseed-authored definition, a completed review, high source confidence, and at least one HTTPS source. Each entry links to one primary or representative source and states how many sources were reviewed.
Last reviewed
June 5, 2026
Known limits
Startup and investment language can vary by market, document, and jurisdiction. These definitions explain common usage and are not legal, financial, tax, or investment advice.
Upseed is an independent guide. Definitions are educational explanations, not representations made on behalf of the organizations or sources linked.