Gust Review

AngelList Equity encompasses the equity management and investment infrastructure services that AngelList provides to startups, investors, and syndicates within its sprawling startup ecosystem. AngelList's position as the largest online platform for startup-investor connections gives its equity services unmatched distribution — millions of founders and investors interact through AngelList, making its equity infrastructure an natural extension of those relationships. The Stack product provides startups with US company formation, initial cap table setup, SAFE issuance, and banking in a bundled startup-in-a-box package. AngelList's SPV (Special Purpose Vehicle) service enables angel investors to pool capital and invest as a single vehicle into startups, with AngelList handling fund administration, K-1 generation, and regulatory compliance for each SPV. Rolling Funds allow investors to raise capital on a quarterly subscription basis, democratizing venture fund management for emerging managers. The equity management tools track option grants, vesting schedules, and cap table updates through the AngelList platform with integration into AngelList's broader investor and talent marketplaces. Carry tracking and distribution management handle the economics of SPV and fund investments. For founders deeply embedded in the AngelList ecosystem — using it for recruiting talent or raising angel rounds through syndicates — the equity management services create natural integration. For investors running multiple SPVs or building an emerging manager brand, AngelList's fund infrastructure eliminates significant operational complexity.

Qapita is an equity management and fintech platform serving startups and growth companies across Southeast Asia and India, providing cap table management, employee equity administration, and secondary share liquidity services adapted for regional markets. The platform covers equity management across Singapore, India, Vietnam, Malaysia, Indonesia, and other SEA markets, with jurisdiction-specific compliance for each country's company law, tax regulations, and securities requirements. Cap table management tracks equity across multiple share classes, convertible instruments, and option pools with real-time dilution calculation and shareholder analytics. Employee ESOP administration handles option grant documentation, vesting schedule tracking, exercise workflows, and the jurisdiction-specific tax compliance for employees in each covered country. The secondary marketplace capability is a distinctive feature — Qapita provides a liquidity platform where employees and early investors can sell equity in private companies, addressing the illiquidity problem that makes pre-IPO equity difficult to value for retention purposes. This secondary market functionality has particular relevance in Southeast Asia where IPO timelines are less predictable and employees may need liquidity options before an exit event. 409A equivalents and local valuation support cover the fair market value determinations required for option pricing in each jurisdiction. Integration with legal tools and cap table-aware document management simplifies the due diligence process for fundraising. For Southeast Asian and Indian founders managing equity complexity across multiple legal jurisdictions where US-centric platforms provide inadequate regional coverage, Qapita's multi-market expertise provides meaningful practical value.

Cake Equity is an Australian-founded equity management platform serving startups and growth companies across Australia, New Zealand, and Asia-Pacific with cap table management and employee share scheme administration adapted for regional legal frameworks. The platform handles Australian-specific equity structures including ESS (Employee Share Schemes) under Division 83A of the Income Tax Assessment Act, with particular expertise in the tax-deferred and upfront taxation elections that determine when employees recognize income on their equity grants. Cap table management tracks ordinary shares, preference shares, options, SAFEs (Simple Agreements for Future Equity), and convertible notes with real-time dilution calculation. The employee portal provides staff with clear visibility into their option grants, vesting status, and potential exit values without requiring accounting expertise to interpret. New Zealand ESS compliance is also covered, along with structuring guidance for Singapore and other APAC markets where Cake has expanded. Round modeling allows founders to test investment scenarios and their dilution impact. The SAFE conversion modeling handles the complex mechanics of converting SAFEs and convertible notes at financing rounds. Investor access gives VCs portfolio visibility. Cake's free tier accommodates very early-stage companies with minimal equity complexity, making it accessible from formation. For Australian and New Zealand founders managing equity compensation who find Carta and Pulley poorly adapted to Australian tax and legal requirements, Cake Equity's regional expertise eliminates the workarounds required when using US-designed tools for APAC equity structures.