Archstone vs Carta
You're paying $600+/mo for a cap table you check twice a quarter -- while running the rest of your fund in spreadsheets, DocSend, and Slack threads. Archstone replaces all of it for $297/mo.
Credit where it's due. Carta built the digital cap table category and does some things genuinely better than anyone.
Carta's cap table product is the industry standard. Complex multi-class structures, waterfall analyses, and scenario modeling reflect over a decade of iteration. If you have a 50-row cap table with multiple preferred series, Carta handles it with depth no one else matches.
Automated, defensible, and deeply integrated into the cap table workflow. For portfolio companies that need regular 409A valuations -- especially approaching priced rounds -- Carta's process is streamlined and audit-ready.
For large funds with dedicated compliance teams, Carta's infrastructure is robust. Audit trails, reporting standards, and regulatory frameworks are built for institutions answering to multiple regulators.
Deep relationships with major law firms handling venture transactions. For Series B+ rounds with complex legal structures, the direct integration between Carta and legal counsel reduces friction at scale.
If you're running a sub-$25M fund, Archstone was built for exactly how you work.
Carta charges $600+/mo for fund admin alone. Then you need DocSend ($45/mo), Visible ($149/mo), Affinity ($75+/mo), and spreadsheets. Archstone is $297/mo and replaces all of them. That's $15,000+/yr back in your fund.
Carta's interface was built for enterprise administrators -- dense menus, nested settings, workflows optimized for compliance teams. Archstone is clean, modern, and built for GPs who need to move fast without a training session.
Archie is an agentic AI layer that reads your fund data and executes multi-step workflows. Say "Send a capital call to all committed LPs" and Archie calculates pro rata allocations, drafts notices, and queues them for review. Carta has nothing comparable.
Carta's roadmap is driven by $500M+ enterprise clients. Your $5M Fund I support ticket sits behind hundreds of larger accounts. Archstone was built from day one for the $3M-$30M emerging manager -- you are the customer we optimize for, not tolerate.
After Carta's 2024 data-sharing scandal -- where cap table data was shared with secondary market buyers without consent -- trust became a real concern. Archstone uses E2E encryption on SOC 2 infrastructure. We don't monetize your data.
An honest look at what each platform includes. No asterisks, no fine print.
| Feature | Archstone | Carta | Edge |
|---|---|---|---|
| Cap Table Management | Included | Best-in-class | Carta |
| 409A Valuations | Partner integration | Built-in automation | Carta |
| Data Room | Unlimited files + per-page analytics | Not included | Archstone |
| LP Portal & Reporting | Self-service LP dashboard | Basic, add-on pricing | Archstone |
| Deal Flow Pipeline | Kanban + AI scoring | Not included | Archstone |
| Portfolio Tracking | Real-time metrics + founder updates | Not included | Archstone |
| AI Operations (Archie) | Full agentic AI layer | Not available | Archstone |
| Capital Call Automation | AI-drafted, one-click send | Manual process | Archstone |
| Compliance Calendar | Proactive alerts + tracking | Basic tracking | Archstone |
| Emerging GP Focus | Purpose-built for $3M-$30M | Deprioritized | Archstone |
| User Experience | Clean, modern, GP-first | Dense, enterprise-oriented | Archstone |
| Data Privacy | E2E encrypted, SOC 2 | 2024 data-sharing scandal | Archstone |
| Pricing Transparency | $297/mo flat, no escalators | $600+/mo + 5-10% annual increases | Archstone |
| Law Firm Integrations | Coming soon | Deep enterprise integrations | Carta |
| Enterprise Compliance | Comprehensive for emerging funds | Enterprise-grade | Carta |
Carta looks like one subscription. In reality, you need four or five tools to do what Archstone does alone.
"We switched from Carta to Archstone and saved $6,000/yr while getting 5x more features. The AI alone is worth the subscription -- it drafts our LP letters in minutes instead of hours."
-- GP, Fund I ($8M emerging VC fund)
Archstone was specifically designed for emerging VC managers running $3M-$30M funds -- the exact segment Carta has deprioritized. You get cap table tracking, LP portal, data room, deal pipeline, portfolio monitoring, compliance tools, and AI operations for $297/mo. Carta charges $600+/mo for fund admin alone, with no data room, no deal pipeline, and no AI.
Carta's fund administration starts at $600+/mo with 5-10% annual price escalators. By year three, you could be paying $750+/mo -- and that only covers basic fund admin. You still need DocSend ($45/mo), Visible ($149/mo), and a deal CRM ($75+/mo). Archstone is $297/mo Starter or $497/mo Pro with no annual increases, and it replaces all those tools.
Yes, and most GPs complete the migration in under a week. Export your cap table data from Carta, import it into Archstone, and run both in parallel until you are confident everything has transferred. No lock-in or penalties on our side.
Carta's automated 409A valuations are genuinely excellent -- it is one of their core strengths. Archstone integrates with 409A valuation partners rather than building this in-house. If 409A automation is your primary need, Carta may be the right fit for that specific use case. But if you need a complete fund management platform, Archstone covers the other 90% of your workflow at a fraction of the cost.
In 2024, Carta was caught sharing cap table data with secondary market buyers without founder or GP consent, leveraging its position as cap table administrator to feed its CartaX marketplace. Archstone uses end-to-end encryption on SOC 2 compliant infrastructure. We do not operate a secondary market or any business that creates incentives to share your data.
If you are running a $100M+ fund with complex multi-class cap tables, preparing portfolio companies for IPO, or need deep law firm integrations for Series B+ transactions, Carta is probably the right choice. Their cap table infrastructure is enterprise-grade and battle-tested at scale. Archstone is built for emerging managers -- Fund I through Fund III, $3M-$30M.
14-day free trial. No credit card required. Import your Carta data and see the difference in a single afternoon.