Nova

What Nova does

Nova (legally Nova Orbis Inc.) is a financial service platform founded in 2018 that provides fund subscription processing, investor onboarding workflows, and a virtual data room for private markets transactions. The platform serves investment funds (venture capital and private equity), family offices, and broker/dealers, addressing labor-intensive subscription processes, secure document sharing during transactions, and regulatory compliance requirements for private market deals. Following AngelList's July 2023 acquisition, Nova operates as a consolidated business unit within AngelList, with its core offerings rebranded as AngelList Transact (fund subscription) and AngelList Data Room (virtual data room).

The underlying technology emphasizes enterprise-grade security infrastructure, including AES256 encryption at rest, TLS/HTTPS in transit enforced via HSTS, an identity and access reverse proxy that inspects and routes all inbound HTTP requests, and Confidential Computing that uses Secure Encrypted Virtualization extensions to encrypt VM memory contents in use. Nova is SOC2 audited and undergoes regular internal and customer-initiated penetration tests. The platform supports electronic document signing for fund investments and handles personal information, KYC/AML data, and transaction documentation for private market closings. Core products include a virtual data room component (a secure document repository controlled by data room owners) and the subscription processing workflow now marketed as AngelList Transact.

Nova generates revenue primarily through recurring subscription fees for access to its fund subscription and data room services, with optional transaction-based fees for third-party integrations such as ID verification. Pricing is not publicly disclosed and is delivered through an enterprise sales motion. Distribution occurs via AngelList's private markets platform (angellist.com/private-markets/transact and /dataroom) and direct enterprise sales outreach to funds, family offices, and broker/dealers globally. The company has 11-50 employees, is headquartered in San Francisco (with a listed Dallas address), and was acquired by AngelList in 2023 for an undisclosed amount.

Name

Nova

Legal name

Nova Orbis Inc.

Website

https://novahq.com

Company type

Private

Founded year

2018

Operating status

Acquired

Headcount range

11–50 employees

Short description

Nova (Nova Orbis Inc.) is a financial service platform providing fund subscription processing and virtual data room services for investment funds, family offices, and broker/dealers in private markets. Acquired by AngelList in 2023 and operating as a consolidated business unit.

Ownership category

akta.pro rank

Product category

Private Markets Fund Subscription Software

NAICS

Software Publishers (513210)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

Keywords

• Fund subscription processing
• Virtual data room
• Private markets infrastructure
• Investor onboarding
• Legal compliance workflows

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Subscription Services: Nova charges recurring fees for access to its fund subscription and data room services. Fees are in U.S. Dollars and recurring charges automatically renew at rates then in effect.
2. Third-Party Services Integration: Optional paid third-party services such as ID verification may be available for additional fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Nova provides a software platform that streamlines fund subscription processes and provides a virtual data room for secure document sharing during private markets transactions. The platform supports investment funds, family offices, and broker/dealers with electronic document signing, investor onboarding, and compliance workflows. Following its July 2023 acquisition by AngelList, the products are now distributed under the AngelList Transact and AngelList Data Room brands.

Product overview

Nova (legally Nova Orbis Inc.) was acquired by AngelList in July 2023 and now operates as a consolidated business unit within AngelList. The original Nova product suite—comprising fund subscription management and virtual dataroom capabilities—has been rebranded as AngelList Transact (for fund subscription processes) and AngelList Data Room (for document sharing in transactions). The codebase and infrastructure remained the same post-acquisition. Nova's Services also include a Dataroom feature providing virtual document management for secure transaction workflows.

Differentiator

Problem solved

Functional benefit

Brands

• AngelList Transact: Product for streamlining fund subscription processes, rebranded from Nova after acquisition by AngelList.
• AngelList Data Room

Products and services

• AngelList Transact Private markets fund subscription and management tool, formerly Nova's product for streamlining fund subscription processes. Targets investment funds and other private market participants.
• AngelList Data Room Virtual dataroom for private markets transactions, containing documents and materials for due diligence. Formerly Nova's Data Room product, targeted at investment funds, family offices, and broker/dealers.
• Dataroom Virtual dataroom component of Nova Services containing documents and other materials uploaded by a Dataroom Owner for secure sharing of confidential information during transactions.

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• AngelListcoreStrategic or Co-development Partner · 28 July 2023Nova was acquired by AngelList in July 2023 and operates as a consolidated business unit within AngelList. Products have been rebranded to AngelList Transact and AngelList Data Room. Nova leverages AngelList's additional resources to deliver product updates faster while maintaining the same codebase and infrastructure.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Carta: Carta is a leading cap table, fund administration, and equity management platform for private markets. It overlaps directly with Nova on fund operations, investor onboarding, and private-markets transaction workflows serving VC/PE funds and their LPs.
• Sharefile (by Citrix): Sharefile is a secure document sharing and virtual data room platform widely used by financial services firms and advisors. It is functionally comparable to Nova's data room offering for private market deal documents.
• Juniper Square: Juniper Square provides investor reporting, fund administration, and subscription document management for private equity, venture, and real estate funds. It is a direct competitor to Nova's fund subscription processing workflows and serves the same fund-manager customer segment.
• iCapital: iCapital is a financial technology platform that streamlines access, subscription, and ongoing administration for alternative investments. It competes with Nova in providing subscription and onboarding infrastructure for private market fund investments.
• DocSend: DocSend (a Dropbox company) provides secure document sharing, e-signatures, and virtual data room functionality used heavily for fundraising and investor updates. Its data room and document-sharing capabilities overlap directly with Nova's AngelList Data Room offering.
• Datasite (formerly Intralinks): Datasite is an established virtual data room provider used for M&A, fundraising, and due diligence document exchange. It competes with Nova's data room product for institutional clients conducting private market transactions.

Broad incumbents

• SS&C Technologies: SS&C is a large incumbent providing fund administration, investor services, and financial software to asset and wealth managers. It competes at a broader scale with Nova's fund operations and subscription management functions.
• Box: Box is an enterprise content management and secure file sharing platform used broadly in financial services for document workflows and data rooms. Its secure document sharing capabilities are comparable to Nova's virtual data room product.
• Arcesium: Arcesium is an institutional technology and operations platform serving hedge funds and asset managers with data management and post-trade processing. While broader in scope, it overlaps with Nova in providing operational infrastructure to financial managers.

Emerging players

• Allvue Systems: Allvue provides software for private equity, venture capital, and credit fund managers covering investor reporting, fund accounting, and portfolio monitoring. It targets the same fund manager segment as Nova with adjacent fund operations tooling.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/novaohq

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nova