SPVs
Best SPV Platform 2026 | Cost, Speed, Carry
Best SPV Platform 2026 | Cost, Speed, Carry
Addhyan Negi
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The best SPV platform in 2026 is the stack that forms the Delaware entity, opens the bank account, onboards LPs, and files K-1s without taking platform carry. Allocations publishes a $9,950 one-time Standard SPV and a $19,500/year fund, with 0% platform carry. This page compares that published schedule to Sydecar, AngelList, and Carta so a GP can pick on cost, control, and admin rather than a listicle ranking.
What “best SPV platform” actually means
GPs searching “best SPV platform” are not shopping a marketplace. They already have the deal. They need a vehicle that closes in days, a bank account that can receive wires, a subscription flow LPs will finish, and tax output that does not become a January fire drill. Features that do not move those four jobs (deal discovery, social feeds, retail crowdfunding) are noise for this query.
If you still need the legal definition of the vehicle itself, start with what an SPV is in finance. The rest of this page is the platform decision.
How to score an SPV platform
Use the same five tests on every vendor. If a sales deck cannot answer them in writing, the “best” claim is marketing.
Published all-in cost. Setup, extra LPs, extra closes, blue-sky / Form D, K-1s, and distributions. If the number only appears on a call, budget the high end.
Platform carry. 0% on your own LPs is the clean outcome. Marketplace-sourced LPs often carry a platform split. Read the Meridian / network terms, not the homepage.
Banking and close ops. Who opens the account, who is on CIP, how many closes are in the base fee.
LP onboarding. KYC/AML, accreditation, e-sign, and whether off-platform LPs cost extra. See KYC/AML onboarding for SPVs.
Path to a fund. If the next vehicle is a 506(b) fund, the same admin stack should run both. That is fund administration, not a second vendor.
SPV platform comparison (published fees, August 2026)
Competitor fees below are taken from each firm’s public pricing or help center as of 26 August 2026. Carta does not publish a standard SPV price list; its support pages say fees are quoted by structure. Allocations figures are from allocations.com/fees.
Platform | Published SPV cost | Platform carry | Fund on the same stack | Best fit |
|---|---|---|---|---|
Allocations | $9,950 one-time Standard SPV (35 LPs included); $19,500 Premium SPV; $19,500/year fund | 0% platform carry | Yes | GPs who bring their own LPs and want formation plus admin in one fee |
Sydecar | 2% of capital raised, $2,500–$12,500, plus $2,000 regulatory fee ($4,500 min / $14,500 max base) | 0% (as published on sydecar.io/pricing) | Not the core product | Simple, one-asset deals priced off raise size |
AngelList | $8,000 setup + $2,000 state regulatory on a standard SPV; $5,000 + $2,000 follow-on; fees capped at 10% of raise (add-ons extra). $80k recommended minimum ($50k follow-on) | 0% on LPs you source; 5% of GP carry on Meridian-attributed LPs | Separate AngelList fund products | Leads who want Meridian distribution and will accept the platform split on those LPs |
Carta | Not published. Sales-quoted formation + per-annum admin; support docs describe a one-time syndicate-SPV fee plus add-ons | Not a published platform-carry schedule | Yes, inside Carta fund admin | Managers already on Carta cap table who will take a quote |
Line-item SPV cost math (extra LPs, closes, K-1s) lives on how much it costs to create an SPV in 2026 and the Carta vs Allocations pricing page. AngelList mechanics are unpacked in AngelList SPV vs Allocations.
Allocations as the SPV platform
Allocations is manager-controlled infrastructure: SPV or fund formation, banking support, LP onboarding, compliance workflows, and ongoing admin. It is not a deal marketplace. You keep the LP relationship. Published Standard SPV is $9,950 one-time with 35 investors included, unlimited raise size, one close, VC asset types, template docs, and a 5-year term. Premium SPV is $19,500 one-time for non-VC assets, 50 LPs, and extra closes at $2,000 each after the first. The fund product is $19,500 per year. Additional investors are +$100 each. None of those prices include platform carry.
Use Allocations when you already have LPs, you want the same vendor for the first SPV and the first fund, and you need the fee in writing before the close calendar is set. Do not use it as a substitute for a lead-gen network. If distribution is the product you are buying, AngelList Meridian or a syndicate network is the other job.
Sydecar
Sydecar publishes a raise-based formula: 2% of capital, bounded, plus a $2,000 regulatory fee, 0% carry, no annual admin fee on the public pricing page. That is often cheaper than a flat $9,950 on a small check. It is not cheaper once the raise crosses the cap, and the product is built for SPVs, not for a GP who will raise a 506(b) fund on the same rails next year. Add-ons on their public page include non-US investments, US pass-through entities, extra closes, and distributions, each as a flat extra.
AngelList
AngelList’s published SPV is $8,000 + $2,000 state regulatory, 10% cap, $80k recommended minimum. Follow-ons drop setup to $5,000. Carry is the real fork: $0 on LPs you brought; 5% of GP carry on Meridian-attributed LPs (help center, retrieved 26 August 2026). If the reason you are on AngelList is the LP network, model that 5 points. If you do not need the network, you are paying setup plus a minimum raise for a job a non-marketplace platform also does.
Carta
Carta’s SPV offering sits next to cap table and fund admin. Public pages do not list a standard dollar fee. Support articles describe quoted per-annum formation and administration, with add-ons (interest transfers, extra closes, a $2,000 third-party manager entity if you lack a US manager). Treat Carta as the right default only if the SPV must live inside an existing Carta portfolio stack. Otherwise you are buying a sales cycle for a number you cannot put in a model until the quote arrives.
How to choose, in practice
Own LPs, want a published flat fee and a fund path: Allocations.
Small one-off SPV, price off raise size, 0% carry: Sydecar’s public formula is the one to run first.
Need AngelList’s LP network: AngelList, and underwrite Meridian carry.
Already run Carta cap table / fund admin: get the Carta quote before you dual-stack.
USA-specific vendor notes (banking, Form D, Delaware) are on SPV platforms in the USA. First-time GP constraints (no ops hire, first close) are on SPV platforms for emerging fund managers.
Fees that get missed
Setup is the slide. The close is extra LPs, extra closes, international investors, and the first distribution. Allocations publishes extra LPs at +$100 and extra Premium closes at $2,000. Sydecar publishes $3,000 extra-close and $1,000 first-distribution add-ons. AngelList publishes add-ons (international $1,000, blocker $6,000, and others) outside the 10% cap. Ask every vendor to put those lines in the same table before you pick a “best” platform off the setup number.
Compliance note
This page is general information on vendor mechanics, not legal, tax, or investment advice, and not an offer or solicitation. Formation, 506(b)/506(c) exemption, Form D, and blue-sky filings depend on facts and counsel. Secondaries in private-company shares, where relevant, run through Allocations Securities, LLC (dba AllocationsX), member FINRA/SIPC, not through a generic “SPV platform” claim.
The best SPV platform in 2026 is the stack that forms the Delaware entity, opens the bank account, onboards LPs, and files K-1s without taking platform carry. Allocations publishes a $9,950 one-time Standard SPV and a $19,500/year fund, with 0% platform carry. This page compares that published schedule to Sydecar, AngelList, and Carta so a GP can pick on cost, control, and admin rather than a listicle ranking.
What “best SPV platform” actually means
GPs searching “best SPV platform” are not shopping a marketplace. They already have the deal. They need a vehicle that closes in days, a bank account that can receive wires, a subscription flow LPs will finish, and tax output that does not become a January fire drill. Features that do not move those four jobs (deal discovery, social feeds, retail crowdfunding) are noise for this query.
If you still need the legal definition of the vehicle itself, start with what an SPV is in finance. The rest of this page is the platform decision.
How to score an SPV platform
Use the same five tests on every vendor. If a sales deck cannot answer them in writing, the “best” claim is marketing.
Published all-in cost. Setup, extra LPs, extra closes, blue-sky / Form D, K-1s, and distributions. If the number only appears on a call, budget the high end.
Platform carry. 0% on your own LPs is the clean outcome. Marketplace-sourced LPs often carry a platform split. Read the Meridian / network terms, not the homepage.
Banking and close ops. Who opens the account, who is on CIP, how many closes are in the base fee.
LP onboarding. KYC/AML, accreditation, e-sign, and whether off-platform LPs cost extra. See KYC/AML onboarding for SPVs.
Path to a fund. If the next vehicle is a 506(b) fund, the same admin stack should run both. That is fund administration, not a second vendor.
SPV platform comparison (published fees, August 2026)
Competitor fees below are taken from each firm’s public pricing or help center as of 26 August 2026. Carta does not publish a standard SPV price list; its support pages say fees are quoted by structure. Allocations figures are from allocations.com/fees.
Platform | Published SPV cost | Platform carry | Fund on the same stack | Best fit |
|---|---|---|---|---|
Allocations | $9,950 one-time Standard SPV (35 LPs included); $19,500 Premium SPV; $19,500/year fund | 0% platform carry | Yes | GPs who bring their own LPs and want formation plus admin in one fee |
Sydecar | 2% of capital raised, $2,500–$12,500, plus $2,000 regulatory fee ($4,500 min / $14,500 max base) | 0% (as published on sydecar.io/pricing) | Not the core product | Simple, one-asset deals priced off raise size |
AngelList | $8,000 setup + $2,000 state regulatory on a standard SPV; $5,000 + $2,000 follow-on; fees capped at 10% of raise (add-ons extra). $80k recommended minimum ($50k follow-on) | 0% on LPs you source; 5% of GP carry on Meridian-attributed LPs | Separate AngelList fund products | Leads who want Meridian distribution and will accept the platform split on those LPs |
Carta | Not published. Sales-quoted formation + per-annum admin; support docs describe a one-time syndicate-SPV fee plus add-ons | Not a published platform-carry schedule | Yes, inside Carta fund admin | Managers already on Carta cap table who will take a quote |
Line-item SPV cost math (extra LPs, closes, K-1s) lives on how much it costs to create an SPV in 2026 and the Carta vs Allocations pricing page. AngelList mechanics are unpacked in AngelList SPV vs Allocations.
Allocations as the SPV platform
Allocations is manager-controlled infrastructure: SPV or fund formation, banking support, LP onboarding, compliance workflows, and ongoing admin. It is not a deal marketplace. You keep the LP relationship. Published Standard SPV is $9,950 one-time with 35 investors included, unlimited raise size, one close, VC asset types, template docs, and a 5-year term. Premium SPV is $19,500 one-time for non-VC assets, 50 LPs, and extra closes at $2,000 each after the first. The fund product is $19,500 per year. Additional investors are +$100 each. None of those prices include platform carry.
Use Allocations when you already have LPs, you want the same vendor for the first SPV and the first fund, and you need the fee in writing before the close calendar is set. Do not use it as a substitute for a lead-gen network. If distribution is the product you are buying, AngelList Meridian or a syndicate network is the other job.
Sydecar
Sydecar publishes a raise-based formula: 2% of capital, bounded, plus a $2,000 regulatory fee, 0% carry, no annual admin fee on the public pricing page. That is often cheaper than a flat $9,950 on a small check. It is not cheaper once the raise crosses the cap, and the product is built for SPVs, not for a GP who will raise a 506(b) fund on the same rails next year. Add-ons on their public page include non-US investments, US pass-through entities, extra closes, and distributions, each as a flat extra.
AngelList
AngelList’s published SPV is $8,000 + $2,000 state regulatory, 10% cap, $80k recommended minimum. Follow-ons drop setup to $5,000. Carry is the real fork: $0 on LPs you brought; 5% of GP carry on Meridian-attributed LPs (help center, retrieved 26 August 2026). If the reason you are on AngelList is the LP network, model that 5 points. If you do not need the network, you are paying setup plus a minimum raise for a job a non-marketplace platform also does.
Carta
Carta’s SPV offering sits next to cap table and fund admin. Public pages do not list a standard dollar fee. Support articles describe quoted per-annum formation and administration, with add-ons (interest transfers, extra closes, a $2,000 third-party manager entity if you lack a US manager). Treat Carta as the right default only if the SPV must live inside an existing Carta portfolio stack. Otherwise you are buying a sales cycle for a number you cannot put in a model until the quote arrives.
How to choose, in practice
Own LPs, want a published flat fee and a fund path: Allocations.
Small one-off SPV, price off raise size, 0% carry: Sydecar’s public formula is the one to run first.
Need AngelList’s LP network: AngelList, and underwrite Meridian carry.
Already run Carta cap table / fund admin: get the Carta quote before you dual-stack.
USA-specific vendor notes (banking, Form D, Delaware) are on SPV platforms in the USA. First-time GP constraints (no ops hire, first close) are on SPV platforms for emerging fund managers.
Fees that get missed
Setup is the slide. The close is extra LPs, extra closes, international investors, and the first distribution. Allocations publishes extra LPs at +$100 and extra Premium closes at $2,000. Sydecar publishes $3,000 extra-close and $1,000 first-distribution add-ons. AngelList publishes add-ons (international $1,000, blocker $6,000, and others) outside the 10% cap. Ask every vendor to put those lines in the same table before you pick a “best” platform off the setup number.
Compliance note
This page is general information on vendor mechanics, not legal, tax, or investment advice, and not an offer or solicitation. Formation, 506(b)/506(c) exemption, Form D, and blue-sky filings depend on facts and counsel. Secondaries in private-company shares, where relevant, run through Allocations Securities, LLC (dba AllocationsX), member FINRA/SIPC, not through a generic “SPV platform” claim.
Addhyan Negi
Director of Marketing, Allocations
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Allocations secondary market is operated through Allocations Securities, LLC dba AllocationsX, member FINRA/SIPC. Check this firm on FINRA BrokerCheck. Allocations Securities, LLC is a wholly owned subsidiary of Allocations, Inc.
Copyright © Allocations Inc
Allocations secondary market is operated through Allocations Securities, LLC dba AllocationsX, member FINRA/SIPC. Check this firm on FINRA BrokerCheck. Allocations Securities, LLC is a wholly owned subsidiary of Allocations, Inc.
Copyright © Allocations Inc
Allocations secondary market is operated through Allocations Securities, LLC dba AllocationsX, member FINRA/SIPC. Check this firm on FINRA BrokerCheck. Allocations Securities, LLC is a wholly owned subsidiary of Allocations, Inc.
Copyright © Allocations Inc