Privacy and personal information are very important to Scale-Up Venture Capital. (the “Scale-Up”), and we take it seriously. Scale-Up makes investments and transactions in shares and other securities of non-public companies, as well as other alternative assets (the “Transactions”). We are committed to the privacy of our community.
2. How and why we collect Personal Information
We collect Personal Information from and about you to:
- Correspond with you, and otherwise enable and facilitate your usage of Scale-Up’s Services or as is necessary for your use of the Site and the provision of the Services.
- Verify your identity, your status as a professional investor, an accredited investor, or qualified purchaser (or other qualifications), if applicable, process diligence checks.
- If you are using the Services on behalf of an entity, organization, or client, verify your affiliation and that you are authorized to do so.
- Facilitate your and our compliance with various laws, regulations, and industry oversight pertaining among other things to banking, financial information, securities transactions, money laundering, terrorism, and “know your customer” rules promulgated by, among others, applicable government and regulatory bodies.
- Provide you with information about the Services (which may include research and development purposes and direct marketing activities and/or the transfer of your Personal Information to third parties for their direct marketing purposes).
- Study, test, and improve the Services, and the overall user experience using the Services.
- Offer customer support, technical support, maintenance, and product development.
- Protect against fraud, Site misuse, privacy and security breaches, securities, and other legal and regulatory violations, and fulfill and enforce agreements reached with you and others.
- We ensure that all uses of your Personal Information have one of the foregoing legal bases: Personal Information (i) that is necessary to provide the Services, including customer support, personalized features, and safety and security protections, (ii) for which we have a legitimate interest not overridden by your data protection interest, such as research and development, marketing, and protecting our interests, (iii) to comply with our legal and regulatory obligations, or (iv) where you have given prior consent to such collection and use, which you may withdraw with respect to further processing.
We collect information by asking you to enter information (including Personal Information) into forms, by observing your account activity and usage of the Services, by logging your access and activity on the Site, by your uploading of documents, and via third-party information providers that, among other things, provide background checks to verify your identity, creditworthiness, and your eligibility and suitability to participate in Transactions. Third-party information providers include, among others: credit reporting agencies, social media sites, our affiliated entities, fund administration partners, advertising platforms, data brokers and other data sources, and compliance service providers.
If you register or use the Services through a third-party site or application such as AngelList, Facebook, or LinkedIn, we may collect Personal Information from them. We may also collect Personal Information by direct communication with you and others by telephone, in person, and by online or electronic messaging means both on-Site and through off-Site services.
3. Types of Personal Information that we may collect
- Your name and contact information.
- As applicable and with your consent, your bank account information, money transfer instructions, age/date of birth, social security number, taxpayer ID number, or federal employer ID number.
- Account and identity information with respect to funds transfer accounts.
- Financial information with respect to your investment objectives and means, including information about your wealth and financial situation, equity compensation, and prior investments.
- Service usage as well as records of your communications with Scale-Up and customer service requests.
- Information requested or required by regulatory or governmental authorities or law enforcement bodies.
- Behavioral and marketing information such as your interests, and your public social media presence.
- If you invite others to use Scale-Up, we may retain Personal Information related to your referral.
- Our online software also may automatically collect information from your computer, browser, phone, or other devices and software used to access the Services, and logs this information in log files. This information includes among other things your device ID, ISP, IP address, user IDs, and access tokens for third-party sites such as AngelList, Facebook, and LinkedIn, the information you have authorized a third party to share, and any information you have made public on those services.
We generally do not collect Personal Information about your race, ethnicity, religious or philosophical beliefs, sexual orientation, health information, trade union memberships, etc., and will not do so without asking for your further, explicit consent.
4. Parties with whom we share Personal Information
Like any company, we may share Personal Information that we have collected with our affiliates and third parties (whether located within or outside your jurisdiction) for the purposes described above. This includes:
- Intermediate entities such as funds and “special purpose vehicles” that handle securities pools on behalf of Scale-Up or on their own account, as well as the organizers, managers, and fund advisers of these entities or other parties in order to complete, service and enforce the terms of a Transaction or contemplated Transaction.
- If we are under a subpoena, court order, investigation, audit, reporting requirement, or other legal or regulatory obligation, we may be required to disclose Personal Information as a matter of legal or regulatory process to any local or foreign regulatory, governmental, tax, law enforcement or other agencies or authorities for the purposes of complying with any law, rule, regulation or guideline.
- Our service providers who provide us with security, fraud prevention, marketing technology, information technology, site analytics, site maintenance, software development, electronic signatures, identity verification, and other Site and service features, provided that all such parties will be under confidentiality duties to protect and not share any Personal Information we give them.
- Our affiliated broker-dealers in order to enroll you as their client. Please note that these brokerages may have their own privacy policies and client agreements, which they will disclose to you at the time of your enrollment and participation.
- Our affiliated custodial organizations in order to enroll you as their client. These organizations may have their own privacy policies and client agreements, which they will disclose to you at the time of your enrollment and participation.
- Members of the Scale-Up community, if you have chosen privacy settings that indicate you wish to share some or all of your profile, status, or experience to such members.
- To third parties, you agree or ask us to disclose Personal Information.
- Any other person under a duty of confidentiality to the Scale-Up or its affiliated entities that have undertaken to keep such Personal Information confidential.
Although we sometimes refer to affiliates as “we” or part of the Services, please be aware that some of these entities are not under common ownership with, or controlled by, Scale-Up. All securities transactions (including any solicitation, engagement, brokering, closing, and clearing Transactions) are handled by affiliated broker-dealers. Further, per the terms of the Transactions and other agreements you may enter into, Scale-Up may set up or contract with third parties to service, pool, and otherwise manage the securities that are the subject of the Transactions.
5. Your Rights regarding Personal Information
Under certain circumstances, you have the right to do the following:
- Request to access your Personal Information and obtain information regarding the processing of your Personal Information, subject to applicable laws and regulations, including transferring to you or to a third party you choose, a copy of any automated Personal Information you provided consent for us to use, in a structured, commonly used, machine-readable format, in accordance with applicable legal and regulatory requirements.
- Correct your Personal Information, including any incomplete or inaccurate information, subject to applicable laws and regulations.
- Erase your Personal Information in certain circumstances (e.g. where there is no good reason for us to continue using it).
- Object to or request that we restrict our processing of your Personal Information, including deleting or removing it, even in cases where we have a good reason to use it, based on something particular to your situation, subject to our legal and regulatory obligations as described above.
- Withdraw any consent you have previously given to us with respect to Personal Information.
- Opt-out from direct marketing at any time and without charge via the opt-out links on any marketing message sent to you, or by contacting us directly.
- Require us, at any time and without charge, to cease to provide your Personal Information to any other person for use by that other person for direct marketing and to notify any person to whom your Personal Information has been so provided to cease to use such Personal Information for direct marketing.
- Ascertain our policies and practices in relation to Personal Information and be informed of the kind of Personal Information held by us as well as the main purposes for which Personal Information held by us is or is to be used.
- Depending on your jurisdiction, you may have the right to lodge a complaint with applicable regulatory bodies if you think that any of your rights relating to your Personal Information has been infringed by us.
6. Your California Privacy Rights
California’s “Shine the Light” law (Civil Code Section 1798.83) permits users of the Site and Services that are California residents to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes. To make such a request, please send an email to firstname.lastname@example.org.
Effective from January 1, 2020, the California Consumer Privacy Act of 2018 (the “CCPA”) grants California residents certain rights with respect to Personal Information collected by businesses. If you are a California resident, you may exercise the following rights, subject to certain exceptions and limitations:
- The right to know the categories of Personal Information we collect, use, and disclose about you, and the categories of sources of the information and third parties with which we have shared Personal Information during the past twelve months.
- The right to request that we delete the Personal Information collected from you.
- The right to opt-out of any sale of your Personal Information.
- The right not to receive discriminatory treatment for exercising your privacy rights.
California residents who wish to exercise any of their CCPA rights should complete and submit the required verifying information via email at email@example.com. We may need to request additional information from you to verify your identity or understand the scope of your request. You may designate an authorized agent to make a request on your behalf by providing us with written authorization or a power of attorney, signed by you, for the agent to act on your behalf. You will still need to verify your identity directly with us.
Requests are processed within 45 days of receipt. If we are unable to verify your identity, request processing may be extended by an additional 45 days. You may make a free request two times in any 12-month period.
7. Cookies and similar technologies
When you access the Site or Services, we and certain information providers may place cookies, pixel tags, web beacons, page tags, or other data-gathering and transmitting tools or files on your device. These help us recognize you as a user, customize and personalize the Services, study and improve our offerings, collect information about your device and software in order to improve Site performance or prevent fraud. Most Internet browsers and our consent management tool are able to disable or remove these cookies and will contain instructions on how to do so, but doing so could affect your ability to use the Site and Services. We use the following cookies:
- Strictly necessary cookies. These are cookies that are required for the operation of our website (e.g., to enable you to log into secure areas of our website, use a shopping cart or make use of e-billing services).
- Performance cookies. They allow us to recognize and count the number of visitors and to see how visitors move around our website when they are using it. This helps us to improve the way our website works (e.g., by ensuring that users are finding what they are looking for easily).
- Functional cookies. These are used to recognize you when you return to our website (e.g., to personalize our content for you, greet you by name, and remember your preferences).
- Targeting cookies. These cookies record your visit to our website, the pages you have visited, and the links you have followed, to make our website and the advertising displayed on it more relevant to your interests. We may also share this information with third parties for this purpose.
Some web browsers provide a Do Not Track feature that sends signals to the websites you visit to indicate that you do not want your online activities tracked. There is currently no industry agreed-upon response to a Do Not Track signal. At this time, we do not support the Do Not Track browser option.
8. Record Retention
We may retain or delete your Personal Information according to our internal data retention policies as permitted by applicable laws and regulations, even after you no longer use the Site and Services or terminate or deactivate your account or your relationship with Scale-Up, among other things for backup, archival, contract enforcement and dispute resolution, auditing, and regulatory compliance purposes. Note, also, that securities law and regulations, among other things, may require that we keep an archival / recordkeeping copy of some or all of your Personal Information, that we provide such information to regulatory authorities, and that removing, deleting, erasing, suspending processing of, or withdrawing consent with respect to your Personal Information may result in our no longer being able to provide you the Services.
9. Age restrictions
The Site and Services are directed at and intended solely for adults according to the age of majority and other laws of their jurisdiction. We do not knowingly collect any information from anyone under the age of 18 or allow them to use the Site or Services. If you learn that we may have inadvertently collected any such information, please contact us immediately for a resolution.
10. Other sites and services
11. How we protect your Personal Information
Scale-Up is committed to maintaining the confidentiality, accuracy, and security of the Scale-Up community’s Personal Information, to honor integrity, respect the trust the Scale-Up community places in us, and for purposes of compliance.
We protect Personal Information by using software, physical safeguards, and internal procedures, in compliance with applicable laws and regulations. This includes using secure servers, encryption, and locked facilities as applicable. We maintain access policies designed to limit access to Personal Information to those who need to know as part of the Services, and education and training for employees on the importance of confidentiality. We have a policy of requiring companies that work with us to protect Personal Information as well.
We ask you to help by taking reasonable precautions to protect your own files, use secure passwords, and generally exercise due care with any sensitive information about yourself or other people.
No security system is complete without risk. If there is a security or data breach affecting your Personal Information, we will attempt to investigate and as appropriate, notify you and take other applicable legal steps. Further, if you become aware that any Personal Information, has appeared to be inaccurate, and you are unable to correct it yourself from your user account, you may contact us as described below. You may also contact us anytime if you have questions regarding your Personal Information, the Services, or any other matter.
12. Contacting Us
You may contact us at firstname.lastname@example.org.
13. Policy Changes
14. Transfer of Personal Information Between Jurisdictions
Individuals in the European Economic Area who wish to exercise any of their GDPR rights should complete and submit the required verifying information via email at email@example.com.