1. Reconcile
Investment amounts are verified and finalised in line with our fee calculation & billing process.
2. Sign
We review all documentation and sign the investee company documents under the syndicate lead’s instruction. The syndicate lead does not sign these documents - Odin manages this.
3. Funds Wired to the Investee
Once all commitments are confirmed and the equity documents are signed by a representative from Odin (Investment Agreement or similar), the funds are transferred to the investee less our fees.
4. Close
The deal is closed on the platform.
5. Complete
Up to 2-3 weeks post-close, investors are issued finalised investment documents, including a certificate of beneficial ownership showing the assets they hold via the SPV.
S/EIS (for UK companies only): We send the investee company the details they need for their S/EIS application with HMRC. Once we have received the S/EIS2 UIR and a signed version of the S/EIS3 form with names and amounts blank, we will circulate these to the underlying investors.
K1's: Once per year, we provide FATCA and PFIC documentation to US investors, so that they may make a Qualified Electing Fund (QEF) election and report annual earnings under the QEF regime (versus being subject to the Excess Distribution Regime, which incurs additional taxation).