A Special Purpose Vehicle (SPV) is a separate legal entity created by an organization, a promoter, an investment fund or a family office to hold an assets, invest in a project or a deal to have a distinct company with its own assets and liabilities, as well as its own legal status.

Usually, they are created for a specific objective, often to isolate financial assets or risk. A SPV can be created to own a real estate project, an investment in a business, a participation in a joint venture, holding an intellectual property right, etc.