Fidelity Private Shares vs Pulley
A side-by-side comparison of Fidelity Private Shares and Pulley — two options for cap table & equity. Pricing, features, and honest pros and cons.
Category
Cap Table & Equity
Cap Table & Equity
Rating
4.1 / 5
4.4 / 5
Pricing
Tiered / Custom
From ~$100/mo
Best for
Portcos that want equity and legal workflows unified
Early-stage portcos wanting speed over incumbency
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 and SAFE management
- Option grants and employee equity portal
- 409A valuations
- Round and dilution scenario modeling
- Pro-forma cap tables for fundraising
Pros
- Document automation genuinely cuts legal spend per round
- Fidelity brand reassures boards and auditors
- Data room plus equity records in one place
- Quick onboarding and responsive support
- Strong SAFE-native modeling for early-stage rounds
- Cheaper than the incumbent at comparable stages
Cons
- Smaller startup market share than Carta — network effects cut against it
- Workflow automation has a learning curve for counsel
- Ecosystem and integrations trail Carta's
- No fund-side products — company cap tables only