Unless otherwise specified in the deal terms, investors in Odin vehicles have the same information, voting and pre-emption rights as a direct investor in the investee company.

In practice, investors in a syndicate typically agree to proxy voting to one investor in the group (usually the lead investor), in order to simplify the relationship between the founder and the investors. If a founder is rolling up investors, voting will usually be controlled by the founder or the chairperson.

However, all investors will retain their own pre-emption rights and information rights as if they invested directly in the company.

The dealmaker may also choose to take full control of information rights, voting, and pre-emption. In order to do so, the dealmaker must be independently regulated for fund management by the FCA or an equivalent regulatory body.

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