Passthrough
Investor onboarding, sub docs, and KYC/AML — now part of iCapital
4.7Enterprise / CustomBest for Funds of any size that want the fastest, lowest-error LP subscription experience
Investor Onboarding Sub Docs KYC/AML
Overview
Passthrough automates fund subscription workflows, turning a fund's own sub docs into guided digital forms with integrated KYC/AML, beneficial-owner collection, and sanctions screening; investors finish first-time onboarding in under 20 minutes and repeat investments in about two. In February 2026, iCapital announced a definitive agreement to acquire Passthrough to extend GP fundraising infrastructure across wealth and institutional channels.
Key features
- Digitized subscription documents using your fund's own legal language
- 80%+ first-submission accuracy on sub docs
- Integrated KYC/AML with sanctions screening to beneficial-owner level
- Reusable investor profiles pre-fill future fund closes
- Integrations with CRMs, portals, and fund administrators
Pros
- Best-in-class investor completion experience and speed
- SOC 2 Type II and GDPR-compliant infrastructure
- Now backed by iCapital's distribution and balance sheet
Cons
- Onboarding-focused — not a full investor portal or reporting suite
- The iCapital acquisition (Feb 2026) introduces some near-term roadmap and pricing uncertainty