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Capital raising cost comparison

Same target raise, three different ways to pay for help getting there. See the estimated cost of each side by side.

Placement agents, independent capital introduction, and software subscription platforms are priced in fundamentally different ways — a percentage of capital raised, a direct fee, or a flat monthly subscription. This calculator estimates total cost under each model for a given target raise, so the trade-off is visible in real numbers rather than the percentages alone.

Your raise

Target capital to raise $50,000,000

Placement agent fee 2.0%

Placement agent retainer $50,000

Independent cap intro fee $120,000

Software subscription (per month) $999

Raise duration (months) 12

Estimated total cost

Placement agent—

Independent cap intro—

Software subscription—

Placement agent as % of raise—

Cap intro as % of raise—

This calculator is for general illustration only. It ignores taxes, fund-specific mechanics and edge cases in your actual documents. It is not financial, legal or tax advice — check figures against your fund's actual governing documents.

What this comparison does and doesn't capture

This tool compares stated fee structures, not outcomes. It does not — and cannot — tell you which route will actually raise the most capital, how quickly, or from the best-fitting investors; those depend on your fund, your network, and execution, not just price. A placement agent's percentage fee only applies to capital actually raised through the engagement, so the effective cost scales with success in a way a flat fee or subscription does not. More on how each model is actually priced and structured →

Software subscription cost here reflects the platform fee only — it doesn't include the time cost of running your own outreach, which a full-service placement agent or capital introduction engagement is, in part, paying someone else to do for you.

Frequently asked questions

How much does a placement agent typically charge?

Commonly a success fee of 1-3% of capital raised, often accompanied by a retainer in the tens of thousands of dollars, though this varies significantly by fund size, strategy and negotiating leverage — smaller or higher-risk raises often see fees toward the higher end of that range.

Is a percentage-based fee better than a flat fee?

It depends on your priorities. A percentage-based fee means the intermediary is only paid on success and scales with the raise, which some managers see as better-aligned incentive; a flat fee is more predictable and can be materially cheaper for a large raise, but is owed regardless of outcome.

Does a lower-cost option mean lower quality?

Not necessarily, but the three models solve different problems: a software subscription gives you data and tools while you do the outreach yourself, a placement agent gives you a full-service team, and independent cap intro gives you a smaller number of curated, relationship-based introductions. Compare on fit, not price alone.

What is a placement agent retainer?

An upfront or ongoing fixed fee paid regardless of whether the raise succeeds, typically covering the agent's dedicated time and expenses during the engagement, on top of the success fee earned on capital actually raised.

Are success fees on capital raised subject to any regulatory rules?

Yes — in the US, compensation contingent on capital raised is one of the strongest indicators of broker-dealer activity, which generally requires registration. This is a genuine legal consideration for any fee structure of this kind, not just a pricing question.

Should I use more than one of these routes at the same time?

Some managers do — a software subscription for breadth and continuous mandate data, alongside a relationship-led introducer for the specific investor types where a warm introduction matters more than volume. Check any exclusivity terms carefully before combining approaches.

Nothing on this page is legal, tax, or investment advice. SeRuM is not a registered broker-dealer, not a placement agent, and not an investment adviser.

What it costsThe full breakdown of how each model is actually priced.Cap intro vs placement agentThe broader comparison beyond just cost.Broker-dealer rulesWhy success-fee structures carry regulatory weight.

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