Looking for a Carta Alternative?
Carta manages cap tables. DiligenceWorks analyses deals. If you need more than equity management, there's a self-hosted platform built for fund operations.
Why Fund Managers Look for Carta Alternatives
Cap table focused, not deal analysis
Carta's core strength is equity management — cap tables, 409A valuations, fund administration. It does not analyse pitch decks, verify claims, or generate adversarial risk reports.
US-only infrastructure
Carta is a US company with US-hosted infrastructure. For non-US fund managers, this creates CLOUD Act exposure on sensitive equity and ownership data.
Pricing transparency concerns
Carta has faced criticism over pricing changes and data usage practices. Self-hosted infrastructure eliminates vendor data access concerns entirely.
Limited outside US/VC ecosystem
Carta's strengths are in the US venture capital ecosystem. Fund managers in DIFC, Singapore, or London often find the product less relevant to their regulatory environment.
How DiligenceWorks Compares
| Dimension | DiligenceWorks | Carta |
|---|---|---|
| AI architecture | AI-native — built on Anthropic Claude. Adversarial deal analysis across 4 modules | Limited AI — cap table and 409A automation, not deal analysis |
| Languages | 100+ languages for document analysis and user interaction (powered by Claude AI) | English primarily — US VC ecosystem focused |
| Deal lifecycle | Full lifecycle — pre-financing screening, financing due diligence, post-capital deployment monitoring | Post-investment equity management — cap tables, 409A valuations, fund admin |
| Core function | AI-powered deal analysis and operational infrastructure for fund managers | Equity management, cap table administration, and fund administration |
| Integrations | Built-in: IMF, World Bank, FATF, SEC EDGAR. Premium: Bloomberg, Moody's, S&P Capital IQ, PitchBook, Preqin | US banking and legal ecosystem, SEC filing tools |
| Institutional memory | Persistent knowledge base — pattern recognition across all deals analysed | Cap table history — equity records, not deal analysis intelligence |
| Deliverables | 6 IC-ready reports per deal in 35 minutes | Cap table reports, 409A valuation reports, investor statements |
| Hosting | Self-hosted — your servers, your jurisdiction | SaaS only — US-headquartered, CLOUD Act applies |
What DiligenceWorks Does Differently
AI deal analysis across VC, Angel/Seed, M&A, and Project Finance
Self-hosted — no vendor access to your fund data
Designed for global fund managers, not just US VC
Operations stack beyond cap tables: document management, compliance, communications
Singapore-registered — aligned with APAC and MENA regulatory environments
AI-native deal analysis — built on Anthropic Claude, not just equity management automation
100+ languages for document analysis — serves global fund managers, not just US VC
Full deal lifecycle from pre-financing screening to post-deployment monitoring
6 IC-ready reports per deal in 35 minutes
Institutional intelligence — pattern recognition across all deals analysed
Honest Assessment
When Carta Is the Right Choice
Carta is the right choice if your primary need is cap table management, 409A valuations, and US fund administration. It is well-integrated with the US VC ecosystem.
When DiligenceWorks Is the Better Fit
DiligenceWorks is the better fit if your primary need is deal analysis and operational infrastructure — especially outside the US — and you want data sovereignty over your fund's sensitive information.
Frequently Asked Questions
Does DiligenceWorks manage cap tables?
No. DiligenceWorks analyses deal documents and provides operational infrastructure. For cap table management, you would continue using Carta or a similar tool. DiligenceWorks analyses the deals; Carta manages the equity.
Can I use both Carta and DiligenceWorks?
Yes. They serve complementary functions. Carta for equity management and fund administration. DiligenceWorks for deal analysis, document management, and self-hosted operational infrastructure.
Is DiligenceWorks AI-native?
Yes. DiligenceWorks is built on Anthropic's Claude AI from the ground up. It is not an AI wrapper, a chatbot connected to a folder, or an MCP integration bolted onto a database. It provides adversarial deal analysis across four modules (VC, Angel/Seed, M&A, Project Finance) — not equity management. The AI is the core product: an 8-stage pipeline that extracts, verifies, and reports on every claim in a deal document.
What languages can DiligenceWorks analyse documents in?
100+ languages, powered by Claude AI. Unlike Carta which primarily serves the US VC ecosystem in English, DiligenceWorks serves fund managers globally — analysing deal documents in any language.
Ready to See the Difference?
Book a discovery call to see how DiligenceWorks compares to Carta for your specific use case.
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