What if I want to run an SPV into another SPV?
Depending on the specific legal structure, it is typically possible to create and run an SPV through Odin into another SPV, whether that is on Odin or not.
If both SPVs are on Odin, we would encourage you to simply share carry on the relevant investors, but if you’d prefer you can run one SPV to invest in another.
Please note that in certain countries (eg. in the US, if you are investing into an LLC) there can be negative tax implications that might affect your investors. It is best practice to review that provider’s documentation and take appropriate tax advice, disclose this to investors and ensure they are comfortable with the setup.
The deal creation process here is near-identical, except for the fact you’d have to provide details for the SPV in the ‘Investee Company Info’ section rather than details of the end investment. The closing process is identical to a regular primary deal into an investee company.
Also, be mindful of communicating the correct fees and carry to your investors, as fees and carry from each SPV (yours and the one you’re investing into) will combine for your investors.