2X Challenge Data Use Policy

As of 27th September 2024

1. Parties

1.1  It is agreed that:

  1. an “Investor” is a member of 2X Global that is participating in the 2X Challenge (as defined in the Data Sharing Agreement into which this Data Use Policy is incorporated) and wishes to qualify an Investment as meeting the 2X Criteria;

  2. an “Investee” or “you” is an entity into which the Investor has invested for the purposes of the 2X Challenge; and

  3. an “Investment” is the investment (by means of one or more transactions) by the Investor into the Investee.

1.2   “2X Global” is 2X Global Limited, a limited company registered in England with registration number 13697512 and with its registered address at Crowe U.K. LLP, 55 Ludgate Hill, London, England, EC4M 7JW.

1.3  You shall appoint a representative (being the person identified in the Data Sharing Agreement or such replacement as you may notify 2X Global of from time to time) who will work with 2X Global’s representative with regards to any issues arising from this data sharing and to actively improve the effectiveness of this data sharing initiative.  2X Global’s representative shall be (or such other person as 2X Global may notify you of from time to time):

2X Global Representative:
Name: Jessica Espinoza
Email: jessica(at)2xglobal.org

2.  Basis of policy

2.1  This Data Use Policy sets out the basis upon which:

  1. you will share Investment Data (as defined in clause 2.3) with 2X Global; and

  2. 2X Global will use that Investment Data, it being acknowledged that the Disclosure Data (as defined in clause 2.4) will be publicly disclosed by means of a central database.

2.2  This Data Use Policy applies to the sharing of such Investment Data to the exclusion of any other terms that you seek to impose or incorporate, or which are implied by law, trade custom, practice, or course of dealing.

2.3  “Investment Data” is such data as 2X Global, acting reasonably, may request you to disclose to it in respect of the 2X Criteria and the nature and deal terms (such as investment amount and instrument) of any Investment that you have received from an Investor for the purposes of the 2X Challenge together with data concerning your business, it being acknowledged that you may provide this information directly to 2X Global or your Investor may provide it instead,  as further set out in 2X Global’s pro forma dataset requirements (as they exist from time to time), a copy of which is available from 2X Global. 

2.4  “Disclosure Data” is the subset of the Investment Data that is set out in Annex 1 to the Data Sharing Agreement and which will be publicly available.

2.5  Investment Data and Disclosure Data shall include data submitted at the time of any relevant transaction and also any subsequent data collected as part of any monitoring activities by 2X Global. Where an Investee has consented accordingly (by means of a tick box on the Data Sharing Agreement), then Investment Data and Disclosure Data shall also include data relating to future transactions that an Investee may enter into with the Named Investor identified on the Data Sharing Agreement.  A future transaction is a transaction subsequent to a transaction in respect of which the data is initially collected.

2.6 Where you elect to keep your identity confidential (by means of a tick box on the Data Sharing Agreement), Disclosure Data shall not include your name and accordingly your name shall not be made publicly available. 

3.  Purpose

3.1  The parties agree to only use the Investment Data for the purposes of the 2X Challenge and shall not use it for any other purpose.  In particular (but without limitation), you agree that 2X Global may:

  1. combine all or part of any Investment Data with other data to analyse and report on the progress of the 2X Challenge;

  2. publish the Disclosure Data in a public 2X Challenge database;

  3. disclose or otherwise make available all or any part of any Investment Data on a confidential basis to any person for the purposes of the 2X Challenge; and

  4. use one or more subcontractors to assist it to: (i) process and analyse the Investment Data; and (ii) to host the Disclosure Data and make it available publicly.

3.2  2X Global shall be under no obligation to use the Investment Data and shall be entitled to determine, in its sole discretion, how it uses the Investment Data provided that such use is within the scope of clause 3.1 of this Data Use Policy.

3.3  You may, by giving written notice to 2X Global’s representative, request the withdrawal of your Investment Data from the 2X Challenge at any time.  Upon receipt of such notice, 2X Global shall use as soon as practicable:

  1. delete your Disclosure Data from the public 2X Challenge database; and

  2. delete or destroy any of your remaining Investment Data that 2X Global holds at such time, except to extent that it has been anonymously combined with other data in accordance with clause 3.1 of this Data Use Policy, in which case such combined data may continue to be used by 2X Global provided that it does not identify you.

3.4 It is agreed that 2X Global shall be under no obligation to destroy or return any Investment Data to you at any point in time after it has been provided to 2X Global in accordance with this Data Use Policy, unless it is required to do so by mandatory applicable law or you have given notice under clause 3.3 of this Data Use Policy.

3.5  Each party must ensure that, in providing (in the case of any Investor or Investee) or using (in the case of 2X Global) the Investment Data it complies with all applicable Data Protection Legislation at all times.  Should the data protection law or approach to compliance of the UK and your country of establishment conflict, the requirements of the country that necessitates stricter or additional requirements to protect data subjects' privacy shall be applied.  In this Data Use Policy, “Data Protection Legislation” means all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018 (and regulations made thereunder);  and the Privacy and Electronic Communications Regulations 2003 (SI 2003 No. 2426) as amended; and all other data protection and privacy legislation and regulatory requirements in force from time to time which apply to a party relating to the provision or use of the Investment Data and the “UK GDPR” has the meaning given to it in section 3(10) (as supplemented by section 205(4)) of the Data Protection Act 2018.

3.6  You warrant, to the best of your knowledge and belief, that the Investment Data that you provide:

  1. is up to date, accurate and complete in all material respects;

  2. does not infringe any third party's intellectual property rights, other proprietary rights, or rights of privacy; and

  3. does not violate any law, statute, ordinance, or regulation.

3.7  Except as expressly stated in this Data Use Policy, all warranties, conditions, and terms, whether expressed or implied by statute, common law or otherwise are hereby excluded to the greatest extent permitted by law.

4.  Governing law

This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

5.  Jurisdiction

Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims), arising out of or in connection with this agreement or its subject matter or formation.