Privacy Policy

Last Updated: September 9, 2022

This Privacy policy (this “Policy”) describes how Passthrough, Inc. and its related and/or affiliated companies (the “Company,” “Passthrough,” “us,” “our,” “its,” or “we”) collects, uses, discloses, and shares Personal Information of investors and other users of this website, passthrough.com (“Site”). This Policy also applies to any other Passthrough online tools and platforms, and other interactions (such as customer service inquiries, user conferences, etc.) you may have with the Company. “Personal Information” here means any information that we process about you that relates to you or that can be used to identify you directly or indirectly, for example your name, email address, payment details or any user profile related content. Passthrough is the Controller of the Personal Information processed under this policy (this simply means we are responsible for your Personal Information). 

Please note that when you are provided with access to our platform by any of our customers for their investment purposes, Passthrough will be the processor of the Personal Information you provide on the platform for that customer’s investment purposes. This means that we will only process such Personal Information on the instructions of that customer, for the customer’s fund purposes and that customer will be responsible for your Personal Information. You should refer to that customer’s privacy policy to contact them or exercise your rights. Where you have an existing investor profile on our platform and choose to reuse this profile in connection with a new investment with a separate customer, in addition to being a  processor for the customer, we will also be a controller of the Personal Information you have chosen to reuse and this Policy will apply to that information. 

What we collect

Passthrough gets information about you in a range of ways.

Information You Give Us. We collect your name, postal address, email address, phone number, username, password, demographic information (such as your occupation), banking information, as well as other information you directly give us on our Site.

Investor Information. If you are an investor or potential investor we collect certain information about you to allow you to participate in our customers’ fund closings. The information we collect varies based on the fund, but, in addition to the Information You Give Us, it may include your social security number or other tax identification numbers, government identification documents like passports and driver’s licenses, bank statements, proof of address, your accreditation/qualification status, the amount and source of the capital you intend to contribute to the fund, and contact information of third parties such as joint signers or partners.

Information We Get From Others. We may get information about you from other sources. We may add this to information you provide through our Site. For example, if you are an investor, we may receive Investor Information from our customers.

Information Automatically Collected. We may log information about you and your computer. For example, when visiting our Site, we may log information such as your computer operating system type, unique device identifiers, and crash data.

Cookies. We may log information using "cookies." Cookies are small data files stored on your hard drive by a website. We may use both session Cookies (which expire once you close your web browser) and persistent Cookies (which stay on your computer until you delete them) to provide you with a more personal and interactive experience on our Site. This type of information is collected to make the Site more useful to you and to tailor the experience with us to meet your needs. Please see our Cookie Policy at https://passthrough.com/cookie-policy for more information on what cookies (and other similar technologies) are and how we use them.

Analytics: We use Google Analytics, a web analytics service provided by Google, Inc. (“Google”). Google Analytics uses cookies to help us analyze how users use the Site and enhance your experience when you use the Site. For more information on how Google uses this information, click here.

Online Tracking and Do Not Track Signals: We and our third party service providers may use cookies, pixels, or other tracking technologies to collect information about your browsing activities over time and across different websites following your use of the Site. Our Site currently does not respond to “Do Not Track” (“DNT”) signals and operates as described in this Privacy Policy whether or not a DNT signal is received. If we do respond to DNT signals in the future, we will update this Privacy Policy to describe how we do so.

Third party data

Passthrough may receive data about organizations, industries, website visitors, marketing campaigns, and other matters related to our business from affiliates, subsidiaries, partners, or others that we use to make our own information better or more useful. This data may be combined with other information we collect and might include aggregate level data.

Use of personal information

Passthrough uses your personal information as follows:

To operate, maintain, and improve our sites, products, and services, including use of other information to support delivery of our services under contract, assist with service requests, monitor for errors, remedy security or technical issues, and to analyze website and application performances.

To authenticate investors’ identities and permit investors to use their authenticated identities to participate in fund closings and other regulated activities.

To respond to comments and questions, verify permission access, and provide customer service.

To send information including confirmations, invoices and billing, technical notices, updates, security alerts, and support and administrative messages.

To communicate system updates, service related notices, upcoming events, and other news and promotional messages about products and services offered by us and our selected partners that we believe will interest you.

To link or combine user information with other personal information.

To protect, investigate, and deter against fraudulent, unauthorized, or illegal activity.

To provide and deliver products and services that customers request.

Use of Personal Information

We have set out below details of our purposes for using your Personal Information. Please note that under the laws of certain countries, including the United Kingdom (UK) and countries in the European Economic Area (“EEA”), we can only use your Personal Information where we have a lawful reason or justification (also called a “lawful basis”) and this can be either “to carry out a contract with you or to take steps on your instruction prior to entering a contract with you”; “where we have a legal obligation”; where you have given us your consent”; or “where it is necessary for our legitimate interests” (this means that we have commercial interests in using your Personal Information that is not unfair to you) – we have included each lawful basis as a subheading in the table below for information if you are located in the UK or EEA. Please disregard these subheadings if you are not located in the UK or EEA - they will not affect how we use your Personal Information.

Please note that if you choose not to provide Personal Information requested by us, or refuse our use of your Personal Information, we may not be able to provide you with the services you have requested where this Personal Information is necessary or these services may be delayed.

In particular, Passthrough uses your Personal Information as follows:

Legitimate Interests

To operate, maintain, and improve our sites, products, and services, including use of other information to support delivery of our services under contract, assist with service requests, monitor for errors, remedy security or technical issues, and to analyze website and application performances.

To authenticate investors’ identities and permit investors to use their authenticated identities to participate in fund closings and other regulated activities.

To respond to comments and questions, verify permission access, and provide customer service.

To send information including confirmations, invoices and billing, technical notices, updates, security alerts, and support and administrative messages. 

To communicate system updates, service related notices, 

To send you marketing communications (such as upcoming events, and other news and promotional messages about products and services offered by us and our selected partners that we believe will interest you) where we are legally allowed to send such communications..

To link or combine user information with other Personal Information.

To protect, investigate, and deter against fraudulent, unauthorized, or illegal activity.

To provide and deliver products and services that customers request.

To contact you and to manage our relationship with you and/or your company where you are a supplier/partner or the representative of a customer/supplier/partner with whom we have a business relationship.

Through cookies that are strictly necessary, to ensure you are able to use our Site/Platform, our services work as intended on your device, we are able to provide the content or perform the actions you request while using our services, to ensure security of our Site and to record your cookie consent preferences.

To operate our business efficiently. Our processes for ensuring the proper day to day running of our business may apply to any of the above Personal Information we collect about you.

To effectively defend or bring claims to protect our legal rights and interests, to respond to investigations from regulators or law enforcement, and to audit our internal processes for compliance with legal and contractual requirements. Our processes for protecting our rights under the law may apply to any of the above Personal Information we collect about you.

Legal Obligation

To comply with applicable laws, lawful requests, and legal process, such as to respond to subpoenas or requests from government authorities, and audit our internal processes for compliance with legal requirements. Our processes for complying with our legal obligations may apply to any of the above Personal Information we collect about you.

Consent

To send you marketing communications (such as upcoming events, and other news and promotional messages about products and services offered by us and our selected partners that we believe will interest you) where you have provided your consent to receive these communications. We will only do this in line with your marketing preferences.

Through cookies that are not strictly necessary:

  • To carry out web analytics on our Site and platforms (e.g. to monitor the number of your visits and the actions you take for analytical purposes).
  • To enhance the operation of our Site and platforms, improve our marketing and promotional efforts, statistically analyze site use, improve our product and service offerings, and customize our Site and platform content, layout, and services. 

Sharing of Personal Information

Passthrough may share Personal Information as follows:

  • Investor Information is shared with our customers as needed to facilitate fund closings.
  • when we do a business deal, or negotiate a business deal, involving the sale or transfer of all or a part of our business or assets. These deals can include any merger, financing, acquisition, or bankruptcy transaction or proceeding. The Personal Information shared may be shared with counterparties and others assisting with the deal.
  • for legal, protection, and safety purposes.
  • to comply with laws.
  • to respond to lawful requests and legal processes.
  • to protect the rights and property of the Company, our agents, customers, and others. This includes enforcing our agreements, policies, and terms of use.
  • in an emergency. This includes protecting the safety of our employees and agents, our customers, or any person.

We may share information with those who need it to do work for us. This includes granting Passthrough employees and service providers the necessary access in order to perform their duties. 

We may share aggregated or anonymized data. This includes for marketing, analytics, or research purposes.
Information choices and changes

You can opt-out of receiving Passthrough’s marketing emails at any time by selecting the unsubscribe link in any marketing email we send you, or by contacting us. If you opt out, we may still send you non-marketing emails. Non-marketing emails are service focused and so will generally include emails about your accounts and our business dealings with you.

You can typically remove and reject cookies from our Site with your browser settings. Many browsers are set to accept cookies until you change your settings. If you remove or reject our cookies, it could affect how our Site works for you.

Passthrough strives to provide you the tools to update your Personal Information. If you are unable to correct inaccurate information on your own, you may request our assistance to update such information by contacting support@passthrough.com.

Children

Our Site is not directed to children who are under the age of 16. Passthrough does not knowingly collect information from children under the age of 16. If you have reason to believe that a child under the age of 16 has provided information to Passthrough please contact us and we will try to delete that information from our databases.

Security

We implement commercially reasonable technical, administrative, and organizational measures to protect information both online and offline from loss, misuse, and unauthorized access, disclosure, alteration, or destruction. However, no security measures are failsafe and we cannot guarantee the security of your Personal Information.

Data Retention

We generally retain your Personal Information only for as long as necessary to fulfill the purposes outlined in this Policy. This will generally be for the duration of time you interact with us, however, there may be situations where we retain your Personal Information for a longer or shorter period. When determining the relevant retention periods for your Personal Information, we take into account the following factors: (a) any permissions you give us with regards to your Personal Information; (b) our contractual obligations and rights in relation to the Personal Information involved; (c) our legal obligation(s) under relevant laws to retain data for a certain period of time; (d) our legitimate business and commercial interests; (e) whether retention is advisable in light of our legal position (such as with regard to applicable statute of limitations, investigations, litigation, and other potential and actual disputes); and (f) any guidelines issued by relevant data protection authorities.

International Transfers and Personal Information Processing in the U.S.

Passthrough is based in the United States (US) and we use service providers in the US, which means Personal Information you provide to us will be processed and stored in the US. Please note that the US may have data protection laws less stringent than or otherwise different from the laws in effect in your country. 

If you are located in the United Kingdom (UK) or European Economic Area (EEA), and we share your Personal Information to parties in the US or any other countries not recognized as adequate for the transfer of your Personal Information, to the extent a safeguard is required under law for such transfers of your Personal Information, we have put in place the UK government approved international data transfer agreement/addendum (for UK transfers) and Standard Contractual Clauses approved by the EU Commission (for EEA transfers). Please contact us for further details on the safeguards in place and how to obtain a copy.

Data Subject Rights 

Under data protection laws (and in certain circumstances), you have specific rights concerning your Personal Information and can exercise these rights by contacting us. 

You have the right to object to us processing your Personal Information where we rely on “legitimate interest” (see the “Use of Personal Information” section above) as a lawful basis for processing your Personal Information or where we are processing your Personal Information for any direct marketing purposes (e.g. to send you newsletters).

You also have the right to:

  • Request access to your Personal Information (commonly known as a “data subject access request”) and receive a copy of it, along with supplemental transparency information similar to what is provided in this notice.
  • Request correction of the Personal Information that we hold about you if it is incomplete or inaccurate.
  • Request erasure of your Personal Information where there is no good reason for us continuing to process it or where you have successfully exercised your right to object to our processing of your Personal Information.
  • Request the restriction of processing of your Personal Information, for example, if you want us to establish its accuracy or the reason for processing it.
  • Request portability of your Personal Information. If required to do so, we will provide you or another party with any Personal Information we have obtained from you, in a structured, machine readable and reusable format.
  • Withdraw consent to the processing of your Personal Information at any time where we rely on your consent as a lawful basis for processing your Personal Information. This won’t affect anything we have used your Personal Information for before you withdraw your consent.
  • Not be subject to decisions based solely on automated processing (including profiling) which have a legal effect on you or a similarly significant effect on you. This is relevant where we decide to use automated systems to process your Personal Information with no real human involvement.
  • Lodge a complaint about the way we handle or process your Personal Information with a data protection regulator. In the UK, this is the Information Commissioners Office (ICO) Address: Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF. Phone number: 0303 123 1113. Website: https://ico.org.uk/make-a-complaint/. If you are based in the EEA, you can find the relevant EEA data protection regulator names and contact details under https://edpb.europa.eu/about-edpb/about-edpb/members_en.

Contact Information

If you wish to exercise any data subject rights or have any questions about this Privacy Policy or our information practices, please feel free to contact us at info@passthrough.com or by letter delivered first class mail to the following address: Passthrough, Inc., 228 Park Ave S, PMB 42032, New York, NY 10003-1502.

Since we are not currently located in Europe, the law requires us to have a data protection representative in place who you can also contact at any time. Please see details of our representative below:

  • UK Representative.

VeraSafe United Kingdom Ltd.

37 Albert Embankment

London SE1 7TL

United Kingdom

+44 (20) 4532 2003

https://verasafe.com/public-resources/contact-data-protection-representative

  • EU Representative

VeraSafe Ireland Ltd.

Unit 3D North Point House

North Point Business Park

New Mallow Road

Cork T23AT2P

Ireland

+420 228 881 031.

https://verasafe.com/public-resources/contact-data-protection-representative

Changes to this Privacy Policy

We may periodically make changes to this Policy. We will notify you of any significant changes where we have a relationship with you and otherwise post updated versions here. We recommend that you revisit this Policy regularly.