How does the closing process work, and when should I initiate it?

During Closing, Odin locks the deal page off from further investment, communicates with the investee company, handles the signing of deal legals, and transfers the final investment amount to the investee company, completing the SPV’s investment. At the end of closing, your syndicate’s investment is finalised and your SPV will appear on the company’s cap table.

Part of the benefit of using Odin, and of SPVs in general, is that you as the Syndicate Lead aren’t actually responsible for closing the deal yourself - Odin handles all the paperwork for you, and signs on your behalf. We check with you first, of course.

You should only initiate closing when you are certain that you have all funds in the SPV. When you are ready to close, you simply click the ‘Close my deal’ button. This will notify our Deal Operations team and will kick off Odin’s internal closing process.

If you want to draw down the funds in an SPV, but keep the deal open for further investment, this can be done by initiating a rolling close. This is a different process to Odin’s regular deal closing process, and requires you to contact either our customer success team by email, rather than pressing the ‘Close my deal’ button.

While most of Odin’s communication will be with the investee company during closing, we won’t leave you in the dark as to what’s going on. You will be cc’d on all comms with the company, and as the deal moves through the various stages of the closing process, you’ll be able to keep track by accessing the deal in Odin and reviewing the updates as per your deal closing tracker on the platform.