AngelList vs Carta
A side-by-side comparison of AngelList and Carta — two options for fund admin & back office. Pricing, features, and honest pros and cons.
Category
Fund Admin & Back Office
Cap Table & Equity
Rating
4.6 / 5
4.5 / 5
Pricing
SPVs from ~$8K
Custom / Tiered
Best for
Solo GPs and emerging managers launching vehicles fast
GPs standardizing equity records and fund admin in one place
Key features
- SPV formation and administration in days
- Traditional and rolling fund structures
- Banking, capital calls and distributions built in
- Tax documents (K-1s) and regulatory filings handled
- LP onboarding with KYC/AML
- Cap table management and share issuance
- 409A valuations
- Option grants, exercises and employee portals
- Fund administration with LP portal
- Scenario and waterfall modeling
Pros
- Fastest zero-to-fund path in venture
- Everything bundled — no lawyer/admin/bank juggling
- Standardized docs LPs have signed a hundred times
- Network effect: your portcos are likely already on it
- Clean investor view of stakes across the portfolio
- Fund admin plus cap table in one vendor relationship
Cons
- Less flexibility than bespoke counsel for unusual structures
- Costs scale up meaningfully for larger traditional funds
- Pricing has climbed steadily with market position
- Support quality varies with plan tier