Carta vs Fidelity Private Shares
A side-by-side comparison of Carta and Fidelity Private Shares — two options for cap table & equity. Pricing, features, and honest pros and cons.
Category
Cap Table & Equity
Cap Table & Equity
Rating
4.5 / 5
4.1 / 5
Pricing
Custom / Tiered
Tiered / Custom
Best for
GPs standardizing equity records and fund admin in one place
Portcos that want equity and legal workflows unified
Key features
- Cap table management and share issuance
- 409A valuations
- Option grants, exercises and employee portals
- Fund administration with LP portal
- Scenario and waterfall modeling
- Cap table management and share issuance
- Automated financing and board documents
- Option plan administration
- Built-in data room for diligence
- 409A valuation support
Pros
- 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
- Document automation genuinely cuts legal spend per round
- Fidelity brand reassures boards and auditors
- Data room plus equity records in one place
Cons
- Pricing has climbed steadily with market position
- Support quality varies with plan tier
- Smaller startup market share than Carta — network effects cut against it
- Workflow automation has a learning curve for counsel