What if the investee company requires funds to be wired in an alternative currency?

By default, Odin wires funds to the investee company in the same currency you’ve denominated the deal in. If your deal is denominated in USD and investors have transferred in USD, Odin would by default send funds to the investee company in USD.

If required, Odin can wire the final investment amount to the investee company in a currency of their choice, but there will be associated costs.

Any FX fees incurred by Odin will be added to the total deal fee. Odin also charges a flat administrative fee of £500 for any deal where currency conversion is required.

Note that incurring FX charges will likely reduce the final investment amount Odin is able to wire to the investee company, and may require revision of legal documents for the investment.

Odin takes steps to minimise exposure to FX risks. In practice, we agree a conversion in advance at an agreed rate, after which the investment agreement is signed.