Let $V$ be a quasi-complete Hausdorff locally convex space. (By quasi-complete, one means that every bounded closed subset of $V$ is complete.) For a bounded closed absolutely convex subset $B$, denote by $V_B$ the subspace of $V$ spanned by vectors in $B$ and define a norm function $q_B$ on $V_B$, namely, $$q_B(v)=\inf\{t\geqslant 0: v\in tB\},\quad v\in V_B.$$ It is easy to see that $B=\{v\in V_B: q_B(v)\leqslant 1\}$ and that the inclusion map $(V_B, q_B)\rightarrow V$ is continuos.
Q1: Would $V_B$ be a closed subspace of $V$?
Q2: It appears that $V_B$ would be complete with respect to the norm function $q_B$ and hence becomes a Banach space. (I once saw this assertion in a paper.) If it is indeed the case, what is the argument? Thanks in advance for any input.