Keel vs Valence
Keel
keelmanager.comValence
vectorais.comSide by side
| Figure | Keel | Valence |
|---|---|---|
| Price from | Free | — |
| Free plan | Yes | — |
| Free trial | Yes | — |
| Open source | — | — |
| Web | Yes | Yes |
| API | Yes | — |
| Plans published | 7 | 1 |
| Spec score · Fund Administration Software | 8.5 (#3) | 7.1 (#24) |
| Investor onboarding | Prospects can use branded data rooms, accreditation workflows and web subscription documents with electronic signatures. | Valence Vero, powered by Passthrough, brings subscription documents, KYC/AML, and investor communication into one workflow for closed-end funds. |
| Investor portal | Investors receive branded access to capital calls, balances, statements, tax documents and TVPI, DPI, MOIC and IRR analytics. | The investor portal gives limited partners access to investment performance metrics, capital activity breakdowns, documents, and investment count. |
| Security | Keel states that it uses TLS/HTTPS in transit, AES-256-GCM application-layer encryption for sensitive data at rest, mandatory administrator MFA, role-based access, and tenant isolation. | Valence data in transit and at rest is encrypted, and files are stored on AWS using AES-256 encryption. |
| Support | The site invites users to email [email protected] for security diligence questions and says a demo can be booked at [email protected]. | Customers can contact Valence Support by emailing [email protected]. |
Plans
Keel
- FreeFree
- FreeFree
- Starter£350 a month
- Single Fund£799 a month
- Multi-Fund£1,999 a month
- EnterprisePriced on request
- Enterprise$6,000 a month
In their own words
Keel
Keel is fund administration software for private equity, venture capital, family offices, search funds, and independent sponsors. Its workflows cover investor onboarding, commitments, capital calls, bank reconciliation, distributions, performance reporting, and tax tasks. For fund economics, it supports European and American distribution waterfalls, GP catch-up, carried interest, preferred returns, hurdles, and recallable capital. Investors can use a branded portal for capital-call notices, real-time account balances, statements, tax documents, and fund analytics. Its AI Suite reviews emailed capital-call notices, deal materials, and portfolio updates, but a manager must confirm before it creates or issues actions. Keel supports USD, EUR, GBP, and JPY fund currencies, plus K-1 and foreign-investor tax forms including W-8, 1042-S, and K-3. The Free tier costs nothing and covers one entity and up to 10 active investors. Listed paid plans start at £265 a month; the pricing note also says paid plans start at $500/mo. Keel administers single-entity funds today; multi-entity and master-feeder structures are coming soon.