Netsuite for Private Funds
In a recent LinkedIn post, Carta CEO Henry WardDealroom has a profile for this one. Try Dealroom → reflected on the company’s journey and evolving mission. Originally, Carta set out to dominate cap table management and launch a private market exchange, CartaX . While CartaX didn’t meet expectations, the company has successfully pivoted to build something even more impactful—a Network ERP for private capital.
Carta’s new focus is on creating interconnected modules that serve venture capital, private equity, and private credit markets. This strategy has driven substantial growth, with annual revenue set to exceed $500 million. Over half of this comes from Carta’s cap table management business, while the rest is split between venture fund administration and their expanding private equity offerings.
The CEO likens Carta’s platform to Netsuite but tailored for private funds. Features like cap table management, valuations, and fund administration resemble traditional ERP functionalities but address the unique needs of private capital markets. Existing ERP systems, like SAP and OracleDealroom has a profile for this one. Try Dealroom →, are ill-suited for this sector, leaving a significant gap that Carta is uniquely positioned to fill.
Carta is also building specialized tools for the "Office of the Fund CFO," akin to modern cloud solutions for CFOs in other industries. Carta is now making inroads into private equity and private credit by expanding their proven playbook beyond venture capital its proven playbook beyond venture capital Their vision is to pioneer a new software category that bridges private and public markets, enabling greater structure and accessibility across all nodes of private capital.
