Sydecar alternatives for SPVs: 7 platforms with published fees and who fits
As of November 3, 2026, the direct competitor is AngelList: $8,000 per SPV, follow-on discounts, both 506(b) and 506(c), and a 10% fee cap on larger raises. For a flat fee regardless of raise size: Allocations at $9,950 or $19,500. For a non-US vehicle: Roundtable for Luxembourg from €5,000, Odin for UK S/EIS trusts. For a dedicated administration team rather than a platform: SPV Concierge at $8,500 plus $1,500 a year.
Why managers look for Sydecar alternatives
Three reasons recur. The fee is a percentage of capital raised, so the cost scales with the deal: on a $500,000 raise Sydecar charges $12,000 to $14,500, while Allocations charges $9,950 flat. The platform forms Delaware vehicles only, documented in USD, so a European or UK deal lead cannot use it. And Sydecar supports only 506(b) offerings with accredited investors, which rules out general solicitation under 506(c) and any vehicle that takes qualified purchasers under 3(c)(7).
A fourth reason is asset class. Sydecar's FAQ says it supports venture capital investments. Allocations names real estate, crypto and secondaries on its fees page. A manager running a real estate or token deal needs to look elsewhere.
A fifth comes from frequency. Sydecar charges per deal, one time. For a lead running ten or more SPVs a year, the per-deal cost adds up fast and there is no volume discount. AngelList discounts follow-on SPVs to $5,000, and SPV Concierge's annual fee amortises across every vehicle the team runs that year.
What the fees look like at three deal sizes
On a $100,000 raise: Sydecar $4,500, AngelList $10,000 (capped at 10%), Allocations $9,950, SPV Concierge $8,500 plus $1,500 a year. On a $250,000 raise: Sydecar $7,000, AngelList $10,000, Allocations $9,950. On a $1,000,000 raise: Sydecar $14,500, AngelList $10,000, Allocations $9,950. Sydecar is cheapest below roughly $250,000; above that, Allocations and AngelList cost less. SPV Concierge's economics improve with volume: the $8,500 closing fee is higher per single deal, but the annual fee covers ongoing administration that the platforms charge separately or do not include.
Seven Sydecar alternatives compared on delivery model, vehicle types, sweet spot, published SPV fee, LP portal and the date each vendor's page was read.
| Platform | Delivery | Fund types | Sweet spot | Published SPV price | LP portal | Last verified |
|---|---|---|---|---|---|---|
| AngelList | Software-enabled administration | VC funds, rolling funds, SPVs | Venture funds that want one provider for admin, banking and tax, with K-1 preparation included in the Full Service tier | SPVs: $8,000 one-time setup ($5,000 for a follow-on on the same syndicate) plus a $2,000 state regulatory fee; total fees capped at 10% of the raise; add-ons $1,000 to $12,000 | Yes | Nov 3, 2026 |
| Allocations | Software-enabled administration | SPVs and funds; venture, real estate, crypto, secondaries | Managers who want a flat published fee per SPV or per fund with broad asset-class flexibility | Standard SPV $9,950 one-time (35 investors, 1 close); Premium SPV $19,500 one-time (50 investors, multiple closes); Fund $19,500/year; distribution fees separate ($5,000 Standard cash, $12,000+ Premium); extras per investor ($100), close ($2,000) and call ($2,500) | Yes | Nov 3, 2026 |
| Carta | Software plus administration | VC funds, SPVs | Managers already on its cap table and SPV products | Quote-based | Yes | Nov 3, 2026 |
| Odin | Software-enabled administration | SPVs as UK trusts (S/EIS) or Delaware LPs; funds | UK and European angels and syndicate leads who need an S/EIS-compatible vehicle | Quote-based | Yes | Nov 3, 2026 |
| Roundtable | Software-enabled administration | SPVs as Luxembourg SCSp, French SC or SAS | European business angels and communities raising in EUR | 1% of the amount raised, minimum €5,000, invoiced at closing, covering 7 years of management; €100 per investor above 20; €1,000 if not raising in EUR; €1,500 for notarised documents | Yes | Nov 3, 2026 |
| bunch | Software-enabled administration | SPVs, club deals and funds, European structures | German and European managers who want funds and SPVs administered from one platform | Quote-based | Yes | Nov 3, 2026 |
| SPV Concierge | Administration | SPVs: single-asset, multi-asset and multi-class vehicles | Frequent dealmakers running 5+ SPVs a year at $1M+ per deal who want a dedicated JD-led team rather than a self-serve platform | Single Asset $8,500 one-time + $1,500/year; Multi-Asset (3 assets or less) $16,000 + $2,500/year; Multi-Class $16,000 + $3,000/year; typical tax returns included; $2,000 failed-deal assessment | Yes | Nov 3, 2026 |
Distribution costs compared
This is the cost most platforms bury in fine print, and it varies by an order of magnitude.
| Platform | First distribution | Subsequent | What triggers extra cost |
|---|---|---|---|
| Sydecar | $1,000 | Not stated | In-kind included; each additional close $3,000 |
| AngelList | Included | Included | Financial statements $10,000; crypto $2,000 |
| Allocations | $5,000 (cash, Standard) | $12,000+ (Premium) | Stablecoin adds 1%; per-LP fee above 35 investors |
| Carta | Not published | Not published | Tax prep and audit support quoted separately |
| Odin | Not stated | Not stated | |
| Roundtable | Included (7-year term) | Included | Feeder SPVs: €2,500 per extra call or distribution |
| bunch | Not stated | Not stated | |
| SPV Concierge | Included in annual fee | Included (standard) | High-frequency distributions quoted separately |
On a single-asset SPV that makes one distribution, AngelList and Roundtable are the only two that include it in the headline fee. Sydecar adds $1,000. Allocations adds $5,000 at minimum.
The decision matrix
| Reason for leaving Sydecar | Look at | What you give up |
|---|---|---|
| Fee scales with the raise | Allocations, SPV Concierge | Sydecar's all-in one-time fee with no annual cost |
| Need 506(c) or general solicitation | AngelList | Sydecar's lower floor on small deals |
| Need a non-US vehicle | Roundtable, Odin, bunch | A US-based platform and USD-only simplicity |
| Want a dedicated team, not a platform | SPV Concierge | Self-serve speed and a lower single-deal cost |
| Already on Carta for fund and cap table | Carta | A published price |
| Running deals at volume | AngelList, SPV Concierge | Sydecar's deal-by-deal simplicity |
| Asset class outside venture | Allocations | Sydecar's turnkey onboarding for VC deals |
Published-price platforms
Who it is for. Syndicate leads and venture GPs who will run many SPVs or a fund on the same account. Supports both 506(b) and 506(c) offerings.
Price. $8,000 one-time setup per SPV ($5,000 for a follow-on into the same company through the same syndicate), plus a flat $2,000 for state regulatory costs. Total fees capped at 10% of the amount raised. K-1s, banking, accounting and distributions included.
Limits. Minimum raise recommended at $80,000 ($50,000 for a follow-on). Add-ons for international ($1,000), crypto ($2,000) and blocker ($6,000) investments are extra.
Who it is for. Managers who want a flat published fee per SPV regardless of raise size, across venture, real estate, crypto and secondaries.
Price. Standard SPV: $9,950 one-time with 35 investors and one close. Premium: $19,500 with 50 investors and multiple closes. Five-year term. Extras: $100 per additional investor, $2,000 per additional close, $2,500 per tranched capital call, $1,000 for an international asset.
Limits. Distribution fees are separate and significant: $5,000 for Standard (cash only), $12,000 and up for Premium (cash, stablecoin or shares); stablecoin adds 1%. K-1 inclusion is not confirmed on the fees page.
Who it is for. Frequent dealmakers running five or more SPVs a year who want a dedicated JD-led team rather than a self-serve platform. Formerly Assure, stating 9,000+ SPVs and $12B in AUM.
Price. Single Asset: $8,500 one-time closing plus $1,500 a year. Multi-Asset (three assets or fewer): $16,000 plus $2,500 a year. Multi-Class: $16,000 plus $3,000 a year. Annual fee covers typical tax returns and standard distributions. Failed deal before close: $2,000 assessment.
Limits. Blue sky filings, franchise tax and Delaware annual fees are excluded. High-frequency distributions and complex tax work are quoted separately.
Quote-based platforms
Who it is for. Managers whose fund and portfolio company cap tables are already on Carta, who want one more vehicle in the same system.
Price. Quote-based. Formation covers the filing fee, first-year registered agent and annual franchise tax while on the platform. AI-powered subdoc pre-filling and dedicated onboarding team.
Limits. No published SPV fee. Tax preparation and audit support are quoted as add-ons.
Who it is for. UK and European angels who need an S/EIS-compatible UK trust or a Delaware LP, with investors in 100+ countries and currencies in GBP, EUR and USD.
Price. Quote-based.
Limits. No pricing page found on November 3, 2026.
Who it is for. European business angels and communities raising in EUR through Luxembourg SCSp or French SC or SAS vehicles.
Price. 1% of the amount raised, minimum €5,000 excluding VAT, invoiced at closing only. Covers 7 years of management: incorporation, banking, accounting and investor KYC. €100 per investor above 20; €1,000 for non-EUR raises; €1,500 for notarised documents.
Limits. Luxembourg and France only. Retail investors face a €100,000 minimum commitment. Feeder SPVs carry a 1.5% management fee for 10 years (€10,000 minimum) with €2,500 per additional capital call or distribution.
Who it is for. European managers who want funds, SPVs and club deals administered from Berlin, London or Amsterdam on one platform.
Price. Quote-based. States 150+ asset managers, 12,000+ investors and 500+ structures.
Limits. No published SPV fee.
What we did
We read each platform's pricing or product page on November 3, 2026 and copied every figure with a link to the page. AngelList, Allocations, Roundtable and SPV Concierge prices are verbatim from their published pages. Carta, Odin and bunch do not publish an SPV fee. Distribution costs for Allocations were read from its fees page on the same date; distribution costs for Sydecar come from its pricing page; AngelList and SPV Concierge include standard distributions in their published fees. SPV Concierge is the successor to Assure, which wound down in 2022; its pricing and track record claims are from spvconcierge.com, read on November 3, 2026. The pick is an editorial judgement about a US deal lead who runs SPVs regularly and wants both 506(b) and 506(c) capability; the conditions under which we would choose differently are in the decision matrix.
Frequently asked questions
What is the cheapest alternative to Sydecar for a single SPV?
Can I run a 506(c) SPV on an alternative platform?
Which Sydecar alternatives support non-US vehicles?
Does AngelList include K-1s in its SPV fee?
What does it cost to distribute from an SPV on each platform?
Sources
- Sydecar pricingwww.sydecar.io/pricing
- Sydecar FAQwww.sydecar.io/faq
- AngelList SPV pricingwww.angellist.com/pricing/spvs
- Allocations feeswww.allocations.com/fees
- Carta SPVcarta.com/fund-management/spv/
- Odinwww.joinodin.com/
- Roundtable pricing calculatorwww.roundtable.eu/pricing-calculator
- bunchwww.bunch.capital/
- SPV Concierge pricingspvconcierge.com/pricing
- Investment Company Act section 3(c)www.law.cornell.edu/uscode/text/15/80a-3
Terms used in this article
- SPV (special purpose vehicle) An SPV, special purpose vehicle, is a legal entity, usually a limited liability company or limited partnership, formed to make and hold a single investment or a defined group of investments, with its own investors, bank account, documents and economics, separate from any fund the sponsor manages.
- Accredited investor An accredited investor is a person who meets the Regulation D test in Rule 501(a): for an individual, net worth over $1 million excluding the primary residence, income over $200,000 ($300,000 jointly) in each of the last two years, or a Series 7, 65 or 82 licence; for an entity, assets over $5 million or all equity owners accredited.
- 3(c)(1) fund A 3(c)(1) fund is a private fund excluded from the definition of investment company under Section 3(c)(1) of the Investment Company Act because its securities are beneficially owned by no more than 100 persons, or 250 for a qualifying venture capital fund with no more than $12 million in aggregate capital contributions and uncalled commitments, and it does not make a public offering.
- Blue sky filing A blue sky filing is the notice, usually a copy of Form D with a state cover form and fee, that an issuer relying on Rule 506 submits to the securities regulator of each US state in which it has sold interests, because federal law pre-empts state registration of these securities but preserves each state's right to require notice and charge a fee.
- Carried interest Carried interest is the general partner's share of a fund's profits, typically 20%, paid through the distribution waterfall only after limited partners have received their contributed capital and, usually, a preferred return.
- Schedule K-1 Schedule K-1 (Form 1065) is the annual IRS form on which a partnership, including a fund organised as a limited partnership, reports to each partner their share of the partnership's income, gains, losses, deductions and credits for the tax year, so that the partner can report those items on their own return.
For people actually running a fund
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