Compare
Every way to launch a hedge fund, side by side.
The platforms, the administrators and the law firms, with the prices they publish. Where a company doesn't publish a price we say so instead of guessing. Checked October 2026.
| Hedge Fund in a Box | Repool | Carta | Formidium | Allocations | Traditional law firm | |
|---|---|---|---|---|---|---|
| What it is | Launch platform: formation, documents via independent counsel, filings, administration, onboarding | Launch platform and fund administrator | Cap table and fund administration software; SPVs and venture funds first | Fund administrator for hedge, PE, VC and digital-asset funds | SPV platform; funds through partners | Fund-formation counsel; you hire the administrator, auditor and tax preparer yourself |
| Built for hedge funds | Yes | Yes | Venture and SPV first | Yes | SPVs, not hedge funds | Yes |
| Digital asset funds | Yes, $5,000 + $1,250/mo | Yes, from $20,000/yr | Limited | Yes, price not published | SPVs only | Yes, hourly |
| US fund, one-time | $5,000 | $10,000 | Not published | Not published | $9,950 (SPV, up to 35 investors) | $50,000 to $200,000 for documents |
| US fund, ongoing | $995/mo ($11,940/yr) | $20,000+/yr | Reported $5,000 to $15,000/yr for small funds; negotiated | Not published; three-year fee freeze advertised | Included for 5 years (SPV) | $36,000 to $120,000/yr for an administrator, separately |
| Year one, US fund up to $5M | $16,940 | $30,000 | Not published | Not published | n/a | $110,000 to $400,000+ |
| Cayman/BVI mini-master | $29,500 + $1,750/mo | $50,000 + $27,500/yr | Not published | Not published | No | $30,000 to $50,000 legal plus $30,000 to $75,000/yr operations |
| Offering documents | Independent fund counsel, engaged for you | Partner counsel, programmatically generated | Your counsel | Your counsel | Template SPV documents | The firm drafts them |
| Form D, blue sky, ERA filing | Included | Included | Form D for SPVs; otherwise your counsel | Compliance support, scoped separately | Included for SPVs | Billed hourly or flat |
| Fund administration | Included | Included | Core product | Core product | Included (SPV) | Separate vendor |
| Standing counsel | Optional, $3,000/mo | Counsel of record only on Mini-Master | No | No | No | Hourly |
| Audit and tax | At cost, quoted up front | Not included | Tax (K-1s) sold separately | Sold separately | Tax included for SPVs | Separate vendors |
| Published pricing | Yes, on this site | Yes | No | No | Yes | Rarely |
Sources: repool.com/launch/hedge-fund (Emerging Fund $10,000 one-time + $20,000+/yr; Cayman/BVI Mini-Master $50,000 + $27,500+/yr; Digital Asset Fund in a Box from $20,000/yr; audit and tax not included); allocations.com (Standard SPV $9,950, Premium $19,500); archstone.app, Carta pricing 2026 (reported, not published by Carta); formidium.com (no published pricing; fee freeze); TechBullion, 2026 and Alpha Maven, 2026 for traditional ranges. Competitor prices change; tell us if one has and we'll fix it.
Who each one is for
Honest fits.
Repool
The platform we undercut. A real product with 200+ launches and $1B+ under administration. Same scope as our Emerging Fund plan; you pay $13,060 more in year one and $8,060 more every year after, and audit and tax are still extra.
Carta and Formidium
Administrators, not launchers. Good back offices once you exist. Neither forms your fund or drafts your documents, so you still need counsel, filings and onboarding from somewhere, and neither publishes a price.
Allocations
For one deal, not a fund. Fast and cheap for a single SPV. Not an open-ended hedge fund: no NAV, no redemptions, no performance allocation across a strategy.
Traditional law firm
When $25M+ is already committed. Bespoke documents, a partner who knows the SEC examiner by name, and a bill to match. The right call for an institutional seed; overkill for a first $5M.
Hedge Fund in a Box
Lean on purpose. No office tower, no sales team, no venture round to pay back. Same checklist, independent counsel on the documents, flat prices on this site, crypto included.