What are my voting rights?
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 their voting rights to one investor in the group (usually the Syndicate Lead), 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 Deal Lead may also choose to take full control of information rights, voting, and pre-emption. In order to do so, the Deal Lead must be independently regulated for fund management by the FCA or an equivalent regulatory body.