Honest comparison · 2026
Allocations
vs
Carta
Both will administer your fund. Only one tells you what it costs before you get on a sales call. Here's the whole comparison — including where Carta wins.
Read the comparison
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ALLOCATIONS · FUND
allocations.com/fees
Entity formation + EIN
included
Bank account setup
included
Template docs + side letter
included
Investor onboarding + KYC
included
Unlimited closes + capital calls
included
Reg D filings
included
30 portfolio assets
included
TOTAL / YEAR
$19,500
Additional fees may apply to certain services, incl. tax filings.
CARTA · FUND ADMIN
no published price
Fund administration
custom scope
Fund formation
add-on
Legal document generation
in the add-on
Fund tax + K-1 prep
sold separately
Banking
via partner bank
Certain regulatory filings
client's responsibility
Capacity
quoted per fund
TOTAL / YEAR
$ ——,———
Depends on the fund's structure, needs, and complexity — ask sales.
$3B+
Assets transacted
1,800+
Private funds
30,000+
Investors
60+
Years of experience
The short version
Allocations is a productized fund launch — one subscription, one price, formation through distributions. Carta is a modular fund-finance platform — deeper institutional accounting, assembled from separately scoped pieces at a negotiated price.
Neither is "better." They're packaged for different managers. The rest of this page shows you exactly how — so you can decide in ten minutes, not ten sales calls.
Ten rounds, called honestly.
Drawn from both companies' public product and pricing pages. Where Carta is stronger, we say so.
01 · Published pricing
$19,500/year, on the public fees page with the full scope listed.
No standard price — annual cost depends on structure, needs, and complexity.
ALLOCATIONS
02 · Entity formation
Formation, EIN, and bank account are part of the core Fund workflow.
Fund Formation is an add-on module on top of administration.
ALLOCATIONS
03 · Legal documents
Template LPA, PPM, subscription docs, and a side letter in the published package.
Document generation sits primarily inside the Formations add-on.
ALLOCATIONS
04 · Fund capacity
Unlimited raise, unlimited closes, 30 assets — standardized and public.
Capacity and pricing quoted per fund rather than packaged.
ALLOCATIONS
05 · Investor experience
Digital invites, KYC, subscriptions, capital calls, and payments in one portal.
Strong LP portal — subscriptions, capital calls, distributions, K-1s, performance.
DEPENDS
06 · Accounting depth
Ongoing fund accounting, ledgers, and capital-account statements.
Published US GAAP scope, ILPA-compatible reporting, live general ledger.
CARTA
07 · Performance analytics
Capital accounts, investor reporting, lifecycle administration.
Net IRR, deal IRR, TVPI, DPI, RVPI, MOIC, custom reporting.
CARTA
08 · Tax & K-1s
K-1 filing presented as a Fund feature (additional fees may apply).
Fund Tax sold separately; K-1s prepared by the fund's own tax provider.
ALLOCATIONS
09 · SPVs alongside
Built for both from day one — funds, SPVs, co-invests, feeders, secondaries.
Fund-centric; SPV strategy is not the core packaging.
ALLOCATIONS
10 · Implementation
Self-service: configure the fund and invite investors through predefined workflows.
Consultative onboarding with dedicated fund accountants — slower, more tailored.
DEPENDS
Based on public materials as of this comparison. Features, fees, and packaging change — verify against a current proposal. Not legal, tax, or accounting advice.
Credit where due
Where Carta genuinely wins.
A comparison you can't trust is worthless. If you match the profile on the right, Carta may be the better call — and we'd rather you know now.
01 — Institutional accounting depth
Published US GAAP statements, ILPA-compatible reporting, live general ledger, net IRR / TVPI / DPI / MOIC out of the box. If your LPs demand that from day one, it matters.
02 — A firm-wide operating system
Forecasting, valuations, scenario modeling, management-company administration, GP carry tracking — a fund-CFO suite for firms with a dedicated finance team.
03 — Cap-table ecosystem gravity
If most of your portfolio companies already run their cap tables on Carta, the data connectivity between ownership and fund reporting is a real advantage.
Pricing
The number Carta won't put on a page.
Budget your administration before your raise closes. No discovery call, no scoping exercise, no "it depends." The price below is the price on our fees page.
Running SPVs alongside the fund? Standard SPVs start at $9,950 one-time — same platform, same investor experience.
FUND
ANNUAL SUBSCRIPTION
$19,500
/ year
✓ Up to 249 investors (VC)
✓ Unlimited raise amount
✓ Unlimited closes
✓ 30 assets included
✓ Template documents
✓ Side letter included
✓ KYC + Reg D filings
✓ Any asset types
Get started
Additional fees may apply — see allocations.com/fees
Which one are you?
CHOOSE ALLOCATIONS IF…
→ You're launching Fund I or Fund II and speed to first close matters
→ You need to budget admin costs before the raise is done
→ You expect up to ~30 investments in a standard structure
→ You'll run SPVs or co-invests alongside the fund
→ You want self-service setup, not a months-long implementation
CHOOSE CARTA IF…
→ You have a dedicated CFO or in-house finance organization
→ You run several funds, GP entities, and a management company
→ Institutional US GAAP / ILPA reporting is central to your mandate
→ Valuations, forecasting, and scenario modeling are must-haves
→ You're comfortable negotiating a customized scope and price
Start your next fund in 10 minutes.
One price. One platform. Formation through distributions — without a single scoping call.
Trusted by 30,000+ Customers
Start your next SPV/Fund in 10 minutes
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Allocations secondary market is operated through Allocations Securities, LLC dba AllocationsX, member FINRA/SIPC. To check this firm on BrokerCheck, click on the following link: here. The main FINRA website can be accessed through this link: here. Allocations Securities, LLC is a wholly owned subsidiary of Allocations, Inc.
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