What is Closing, and when should I close a Deal?

‘Closing’ is the process by which Odin locks the deal off from further investment, communicates with your company to sign off on deal legals, and transfers the final investment amount to your company to complete the SPV’s investment. At the end of closing, your SPV’s investment is complete and ‘Odin Investments Limited’ will appear on your company’s cap table.

You should only close a deal when you are confident that you have all funds in the SPV. When you are ready for Odin to begin the closing process, 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 Odin’s Customer Support team, rather than pressing the ‘Close my Deal’ button.

As Odin’s Deal Operations team will be communicating directly with your company throughout the closing process, you won’t be left in the dark as to what the next action is, or the closing timelines. However, 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 the tracker below.