A special project vehicle works by bringing together multiple investors under one legal structure. Instead of each investor investing directly into a startup, they invest through the <strong data-start="965" data-end="992">special project vehicle, which then makes a single investment into the company. This structure streamlines legal documentation, voting rights, reporting, and fund management. AngelSchool explains that using a <strong data-start="1178" data-end="1205">special project vehicle is a common practice in angel syndicates and venture capital deals because it benefits both startups and investors.