Carta vs Fundwave
A side-by-side comparison of Carta and Fundwave — two options for cap table & equity management. Pricing, features, and honest pros and cons.
Category
Cap Table & Equity Management
Fund Administration & Accounting
Rating
4.2 / 5
4.5 / 5
Pricing
From $$$
From $1,000/mo
Best for
Startups and their VC/growth investors
Emerging managers and solo GPs who want software-priced fund accounting
Key features
- Cap-table management
- 409A valuations
- Equity and option administration
- Fund administration
- Investor and portfolio insights
- Capital calls, distributions, and investor equalizations
- NAV allocations on commitment with a fund policies engine
- Multi-close and transfer commitment handling
- Investor portal and custom reporting
- Cashflow, IRR, and portfolio tracking modules
Pros
- Standard-setting cap-table platform
- Combines company and investor tooling
- Strong equity administration
- Rare transparent, published pricing in fund administration
- Modular: buy only admin, portal, or portfolio as needed
- Cost-effective for emerging managers and SPV-heavy structures
Cons
- Pricing scales quickly with growth
- Fund admin has faced service-quality criticism
- Software only — you still need in-house or outsourced accountants to run it
- Smaller vendor with a lighter services bench than full-service administrators
- Onboarding fees ($2,000-$4,500+) on top of the subscription