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Accepting and navigating your deal invite

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Once you have clicked on the invite link, you will be prompted to review and sign the deal terms:

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The page for the deal that you've been invited to will have been curated by the deal lead to include all the information you’ll need as an investor to decide whether to ‘invest’ or ‘pass’ on an opportunity. Below, you can find an explanation of each field of this invite page.

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Investment Memo

The Deal Lead will likely upload a short memo in order to give you as much context as possible about the investee company, the terms of the deal and the overall market opportunity ahead of your investment. It’s up to the Deal Lead as to what’s included here, but you will typically find information about the investee company’s vision, market size, notable parties co-investing, performance to date, team structure and how they intend to use the funds (e.g. hiring and commercial growth plans). Sometimes, the deal lead will also embed their pitch deck into this memo.

Sometimes, if the deal lead has already secured investor commitments and doesn’t need to ‘market’ the opportunity, they’ll leave the memo field blank or input some placeholder text. Similarly if the deal lead has already created a memo and/or data room in a platform such as Notion, they might simply link to that in this field.

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Files

Below the Memo section, you’ll find the Files section - an area where all legal documents related to the deal and the Odin platform can be viewed and downloaded at any time. This section will always include the following documents:

  • Pitch Deck - If a pitch deck is available for the investee company, the deal lead will make it accessible here. This is a document prepared by the investee company themselves to explain the mission of the company, and how they intend to use the funds from this latest round.
  • Investment Agreement - The legal agreement between the Investee Company and all of its investors. As an individual investor, you will only be party to this via the SPV, so no individual signature will be required from you. At the point of being invited to the deal, this file is likely to either be a draft investment agreement, or a completed investment agreement from a previous investment round. You’ll be able to view the completed investment legals for the deal once it’s been closed on the Odin platform.
  • Deal Sheet - This document contains all terms that are specific to the deal, such as the investee company, type of asset being purchased, carried interest, voting and pre-emption rights. Deal sheets are generated uniquely for each individual investor in a deal, and can sometimes include custom text for scenarios in which the deal lead is implementing carry hurdles, or if there’s a change to how Odin’s fees are being paid.
  • Syndicate Terms - The agreement outlining the relationship between Odin (Platform Operator), the Syndicate Lead, the SPV (Nominee) and yourself (Syndicate Member). By investing in the deal, you’re automatically agreeing to these terms.
  • Platform Agreement - The terms of proper conduct and use of the Odin platform agreed between Odin and yourself as a User of our software. This also covers Join Odin Limited's relationship with you, and the declaration of trust between you and the investing vehicle. By investing in the deal, you’re automatically agreeing to these terms.

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Deal Details

At the right side of the invite page (in purple), Odin will set out the key deal terms. While all relevant investment details should be available through the deal memo and supporting attachments, these are the most pertinent details needed for making a decision whether to invest:

  • Investment Type - The particular investment instrument that will be used in the closing of this deal. The ‘investment type’ delineates whether an equity or debt instrument is being used, and the specific type of instrument.
  • Carried Interest - This is the % share of profits on a successful exit event you’ll be expected to share with the Syndicate Lead. This field will only show for syndicated deals, and not for Founder-led deals, as carry is only charged on deals led by a Syndicate Lead.
  • Proxy Voting - The individual to whom voting rights for the overall SPV will be proxied to. Sometimes voting is not proxied, but usually voting is proxied to the Syndicate Lead, Founder of the Investee Company, or Chairman of the Investee Company.
  • Target Close - The date by which the Deal Lead expects the deal to close. Typically, this would coincide with the closure of the wider round by the Investee Company. This field may not be visible for some deals, as it’s not a required field for the Deal Lead to complete.
  • Total Round - The size of the round being raised by the Investee Company overall.
  • Pre-Money Valuation - The valuation of the Investee Company before the injection of any new capital from the ongoing round. For some deals, the deal lead will specify a post-money valuation instead, which denotes the valuation of the Investee Company after the injection of any new capital from the ongoing round.
  • Share Class - The specific class of shares being issued by the Investee Company to investors in this specific deal. For any deal conducted using a debt instrument, like a SAFE or Convertible Loan, the share class field will be hidden, as investors in the deal won’t be purchasing shares at the outset.
  • Share Price - The agreed price of the new shares being issued by the Investee Company to investors in this specific deal. For any deal conducted using a debt instrument, like a SAFE or Convertible Loan, the share price field will be hidden, as investors in the deal won’t be purchasing shares at the outset.
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