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What do I need to complete in order to close my deal?

This article explains how to initiate the closing process for your SPV. Once you request to close, the Sydecar team coordinates directly with the investment target to prepare the transaction.

Initiating the Closing Process

You are responsible for initiating the closing process so the Sydecar team can begin coordinating with the investment target.

You can start the closing process in one of two ways:

  • Preferred: Select the “I’m ready” button in the Checklist section of the Sydecar platform.
  • Alternative: Send an email to operations@sydecar.io indicating that your deal is ready to close soon.

Advance notice allows our team to prepare the SPV for closing and helps avoid delays. You can give us advance notice before the SPV is fully funded, if you have a hard deadline for closing.  

What Happens Next

After you have requested to close, we will contact the individual listed in Company Info in your SPV details to initiate closing logistics. If no target contact is listed, we will ask you to provide one.

You will remain copied on all communications with the target contact.

From there, the Sydecar team manages the closing logistics for you. We will:

  • Request verified wire instructions from the target, via Doublecheck.
  • Request e-signature documents and full agreements associated with signature pages.
  • Request confirmation of the exact final wire amount and any applicable fees.
  • Prepare the transaction for closing once the above items are received.

NOTE: As your administrator, Sydecar is the only signatory on behalf of Sydecar SPVs. You can find the signature block for your SPV under Investment Info → SPV Terms.

Once funding is complete, wire instructions are verified, and the signature request is received, you can authorize Sydecar to complete the transaction.

To do so, select “Close Investment” in the Sydecar platform and complete the required steps. During this process, you will:

  • Confirm the final wire amount.
  • Review the signable agreements.

Other Requirements Before Closing

Before the SPV can close, these other conditions must be met:

  • All investors must sign their Subscription Agreement.
  • All investors must complete KYC/AML verification.
  • All investors must be in a “Funding Complete” status in the platform.

If you plan to run multiple closes on one deal, some investors may complete funding after the initial close.