Carta vs Fundwave
A side-by-side comparison of Carta and Fundwave — two options for cap table & equity. Pricing, features, and honest pros and cons.
Category
Cap Table & Equity
Fund Admin & Back Office
Rating
4.5 / 5
4.2 / 5
Pricing
Custom / Tiered
Tiered subscription
Best for
GPs standardizing equity records and fund admin in one place
Emerging managers running fund admin in-house
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
- Fund accounting with capital calls and allocations
- LP reporting templates and investor portal
- Portfolio dashboards with IRR and KPIs
- Deal pipeline and cap table automation
- Exit modeling and cashflow tracking
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
- One system covers front and back office affordably
- Fits VC-specific workflows out of the box
- Responsive support noted by long-term customers
Cons
- Pricing has climbed steadily with market position
- Support quality varies with plan tier
- Less depth for exotic structures than enterprise platforms
- Interface polish trails newer venture-native tools