Fidelity Private Shares vs LTSE Equity
A side-by-side comparison of Fidelity Private Shares and LTSE Equity — two options for cap table & equity. Pricing, features, and honest pros and cons.
Category
Cap Table & Equity
Cap Table & Equity
Rating
4.1 / 5
4.1 / 5
Pricing
Tiered / Custom
Self-serve tiers
Best for
Portcos that want equity and legal workflows unified
Seed-stage portcos keeping clean records cheaply
Key features
- Cap table management and share issuance
- Automated financing and board documents
- Option plan administration
- Built-in data room for diligence
- 409A valuation support
- Cap table management and share ledger
- Round and dilution scenario modeling
- SAFE and convertible tracking
- Waterfall and exit analysis
- Board and stakeholder document storage
Pros
- Document automation genuinely cuts legal spend per round
- Fidelity brand reassures boards and auditors
- Data room plus equity records in one place
- Honest pricing for early-stage reality
- Simple enough for founders to keep accurate themselves
- Backed by an SEC-registered exchange operator
Cons
- Smaller startup market share than Carta — network effects cut against it
- Workflow automation has a learning curve for counsel
- No 409A or fund-side products in the core offering
- Lighter automation than premium platforms