Buying private markets software forces fund managers to make trade-offs. This provider might have the best CRM, that one has the preferred investor portal, and this other has the most powerful accounting software. But because these solutions are almost always bundled by one provider, managers end up with pieces they’re not excited for. Our partnership with Altvia means an end to vendor lock-in.
Customize your tech stack with Altvia and Passthrough.
With the partnership, Altvia customers no longer need to make trade-offs between investor onboarding and their CRM or investor portal. They can choose the best electronic subscription document and KYC/AML solution and manage their investors thoughtfully to convert their funnel faster.
“Our integration with Altvia allows fund managers to actually bring investors on board quickly, service them well, and get back to everything else that’s required to run a fund,” says Tim Flannery, co-founder and CEO of Passthrough. “It starts with investor onboarding, but it definitely doesn't stop there.”
“For Altvia, one of the values of the partnership is that Passthrough bridges a gap in the chain of data,” says Jeff Williams, Altvia’s Chief Strategy Officer. “By integrating Passthrough’s sub docs into our platform, we can connect the information from those sub docs to our LP portal and CRM without the pain of manually taking that information out of PDFs or spreadsheets.”
Streamlined investor onboarding.
“There's all this data moves back and forth,” says Tim. “Altvia already has all of this structured investor information that's needed for subscription documents. We can take the information that you have in your data model and match it to the data that we have in our data model to use it to pre-populate a subscription document for that investor’s first investment on Passthrough.”
With this partnership, fund managers can use all of their historical investor information located in Altvia to pre-populate subscription documents in Passthrough. From there, they can coordinate their external counsel, their compliance and tax teams, and communicate updates back to investors in a single place. Once the fund has closed, completed documents and data can be shared back to Altvia and ultimately their investors.
“Investor onboarding should be agnostic to whatever systems fund managers elect to use. What a private equity fund chooses to use versus a venture fund versus a real estate fund could be different,” says Tim. “Not only do I need to plug into Altvia, but I also need to plug into my accounting system and everything else that's in the stack. Passthrough plugs into everything and we're making sure that information can move seamlessly.”
Move investors through the pipeline to close faster.
“What the integration we're releasing later this year does is help our customers raise capital, to use their data in better and more efficient ways to move investors through the pipeline,” says Jeff. “With the integration completed, they can see the status of every investor in their raise. We're compiling that information and putting that visibility into Altvia’s CRM so that that fund manager is able to understand how Passthrough’s data relates to the broader fundraising pipeline.”
But the information doesn’t just go one way, says Tim. “When that investor wraps up, we can funnel that information back into Altvia. If there are changes, not only do you know that this investor is finally fully executed, but you also have updated information that you can feed immediately into your systems.”
When that investor invests into the next fund, Passthrough can help them reuse their information across the different funds. Passthrough still receives data from Altvia but enriches it with data from the previous investment not captured in Altvia. That data includes things like attestations, KYC/AML information, and more.
Tap into new sources of capital.
Besides recognizing the need for data to move back and forth, both Passthrough and Altvia focus on consumer-grade user experiences for investors. “There’s been a massive increase in people investing in alternatives since 2009,” says Ben Doran, Passthrough’s co-founder and COO. “It’s time-consuming to make a fund commitment, especially when you let high net worth investors in. And for them to build a diverse portfolio, they have to make a lot of fund commitments. Compared to investing in stocks on Robinhood or Schwab, for example, where it takes 10 seconds to make a trade, it takes upwards of an hour for an investor to fill out a sub doc. We knew there needed to be a solution for this emerging investor that's going into alternative funds.”
It's not just the investors facing these challenges, it's also the fund managers. “The fund managers, be they banks, publicly traded global asset managers, or small venture funds, all want to take advantage of the surge in retail interest,” says Tim. “But the amount of time and energy it takes to collect that small commitment is such a barrier that they just don't do it.”
Grow your fund with this partnership.
Through this partnership, Passthrough and Altvia lay the groundwork for fund managers to build the tech stack they want and bring on investors quickly and at scale.
“Our goal is that if you're an investor, you can stay exactly on one platform: the one the fund manager selected.” says Ben. “You don't need to log in to multiple places. Fund managers can choose the best tools but also have the benefits of it acting as a single solution. It’s the best of both worlds.”
Find out more about how Passthrough and Altvia can streamline your investor management and get a demo today.