Anduin alternatives
Fund subscription and investor onboarding. If Anduin is on your shortlist or your renewal notice, here are the platforms buyers weigh against it — and how they differ.
Digital fund subscription and investor onboarding — subscription documents, KYC/AML collection and review, investor data — used by GPs, fund administrators and law firms during fundraising.
Firms usually start looking for an alternative for one of these reasons: onboarding-focused; not accounting, reporting or a portal for the fund's life; needs a system of record beside it; enterprise pricing. The list below covers the platforms most often evaluated against Anduin, grouped by what each one is actually for.
Written by FUN/D. Statements about Anduin are drawn from their public materials and third-party listings as of October 2026; product scope and pricing change, so verify anything material with both vendors.
The alternatives, by what they do
FUN/D
Investment management on one ledger — fund accounting, capital calls, waterfalls, reporting, CRM and a branded LP portal — on a flat annual firm licence. Built in New York by the InvestorPortalPro team.
Allvue Systems
Fund accounting & private capital suite. Enterprise private-capital suite (fund accounting, investment accounting, portfolio monitoring, investor portal, fundraising CRM, BI) built on Microsoft Dynamics 365 Business Central and Azure. Pricing: unpublished; enterprise quote.
Dynamo Software
Alternative investment platform (CRM-first). Cloud platform covering CRM and deal management, investor relations, portfolio monitoring, fund accounting (integrated GL with GAAP/ILPA reporting), research management and ESG. Pricing: unpublished; per-user quote.
Backstop Solutions
Allocator CRM, research & portfolio. Part of ION Analytics. Pricing: from ~$3,000/yr (third-party listing); per user.
Juniper Square
Fund operations platform + administration. GP operating platform (fundraising, onboarding, portal, fund accounting, treasury, compliance, reporting) paired with in-house fund administration services. Pricing: unpublished; software + services quote.
Carta
Cap tables + fund administration. Cap-table platform (50,000+ companies) that expanded into fund administration for venture funds and SPVs — NAV, calls, distributions, K-1s and a portal delivered as a service. Pricing: custom quote; ~$5k–$50k+/fund/yr reported for admin.
S&P Global iLEVEL
Portfolio monitoring & data. Portfolio monitoring, data collection and valuation platform used by large GPs and allocators. Pricing: enterprise quote.
| Platform | Fund accounting | LP portal | CRM | Waterfalls | Pricing |
|---|---|---|---|---|---|
| FUN/D | Native, one ledger | Native, same ledger | Native, ledger-connected | Configured to LPA, per-investor trace | Flat annual firm licence |
| Anduin | No | Onboarding only | No | No | Quote |
| Allvue | Native (Dynamics-based GL) | Native | Native fundraising CRM | Configurable | Unpublished; enterprise quote |
| Dynamo | Native (newer module) | Native | Core strength | Supported | Unpublished; per-user quote |
| Backstop | No | No (GP-side) | Core strength | No | From ~$3,000/yr (third-party listing); per user |
| Juniper Square | Native (with admin services) | Native | Native | Supported | Unpublished; software + services quote |
| Carta | Via admin service | Native | Basic | Supported (admin) | Custom quote; ~$5k–$50k+/fund/yr reported for admin |
| iLEVEL | No | No | No | No | Enterprise quote |
How to choose
Write down the three workflows Anduin runs for you today, and the two it does not. Any alternative must cover the first three natively — not through a partner — and should cover the two gaps without a second contract. Then ask each vendor for a demo on your own fund structure rather than a sample, and for the total three-year cost at your headcount in year three, not year one.
What is the best alternative to Anduin?
It depends on which of Anduin's jobs you are replacing. For the ledger, capital activity and portal on one system, FUN/D; for a pure CRM, Dynamo or Altvia; for monitoring only, Chronograph or iLEVEL; for administration bundled with software, Juniper Square or Carta.
Why do firms leave Anduin?
The reasons buyers cite most: onboarding-focused; not accounting, reporting or a portal for the fund's life; needs a system of record beside it; enterprise pricing.
Is switching disruptive for LPs?
Not if the portal URL and investor records carry over. FUN/D migrates records and documents, reconciles history, and runs the old and new portals in parallel for one reporting cycle.
Weighing Anduin against FUN/D?
Name and work email. We'll run both side by side on your structure.
Talk to us
Name and work email. We reply within one business day, from a person.
Sent.
Someone from FUN/D will email you within one business day. If it's urgent, call +1-212-658-0862.