Fidelity Private Shares
Equity management plus automated legal workflows, by Fidelity
4.1Tiered / CustomBest for Portcos that want equity and legal workflows unified
Cap Table Legal Automation Enterprise Brand
Overview
Fidelity Private Shares is Fidelity's equity-management platform, built on its 2023 acquisition of Shoobx, combining cap tables with automated legal workflows — financing documents, board consents, option grants and a built-in data room. The pitch is fewer law-firm hours per financing, with a balance-sheet brand behind the system of record.
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
- Path into Fidelity's private-market ecosystem
Pros
- Document automation genuinely cuts legal spend per round
- Fidelity brand reassures boards and auditors
- Data room plus equity records in one place
Cons
- Smaller startup market share than Carta — network effects cut against it
- Workflow automation has a learning curve for counsel