PitchBook vs Preqin, which fits a small fund?
Pick PitchBook if you source deals and research private companies; pick Preqin if you are raising a fund and need LP and fund performance data. Both are quote-based. Vendr reports a median Preqin contract of $49,334 a year in 2026 (Vendr), and 2026 guides report PitchBook at $12,000 to $70,000 a year (VC Beast).
What is the real difference between PitchBook and Preqin?
PitchBook is built around companies and deals; Preqin is built around funds and the investors who back them. PitchBook's own data page lists 13.4 million companies, 3.2 million deals, 175,000 funds and 67,000 LPs in 2026 (PitchBook). Preqin covered about 210,000 funds and served more than 220,000 users when BlackRock completed its $3.2 billion acquisition in March 2025 (BlackRock).
The overlap is real. PitchBook's parent Morningstar has said PitchBook's private fund and benchmark coverage is comparable to Preqin's (Morningstar, 2024). Independent buyer guides still describe Preqin as the deeper source on LPs such as pensions, endowments and sovereign wealth funds, and PitchBook as the broader source on venture deals and companies.
PitchBook vs Preqin side by side
| Feature | PitchBook | Preqin | Source |
|---|---|---|---|
| Reported price | $12,000 to $70,000 a year, quote-based | Median $49,334 a year; range $27,674 to $77,221 | VC Beast, Vendr |
| Plan structure | Per seat; one customer reported a 5-seat minimum at $7,000 a seat | Reported plans from $25,000 to $80,000 a year by asset class | Prospeo, CostBench |
| Coverage | 13.4M companies, 3.2M deals, 175K funds, 67K LPs (self-reported) | About 210,000 funds (at the 2025 close) | PitchBook, BlackRock |
| Free trial | Listed | Not listed | TrustRadius, TrustRadius |
| Best for | Deal sourcing, company research, VC and PE deal data | LP targeting, fundraising, fund benchmarks | Buyer guides above |
| Main gap | Stale data on small companies; price | Thinner venture and company data; ownership change | G2, Dakota |
Prices above are reported by third parties, several of which sell competing tools. Check current terms with each vendor.
Is PitchBook or Preqin better for LP targeting?
Preqin, on most accounts. Guides written for fund managers rank its coverage of pensions, endowments and sovereign wealth funds among the deepest available, and they place PitchBook's LP data second to its deal and company data. A thread on SearchFunder asking whether PitchBook is worth it drew replies pointing to Preqin as better value for fundraising, along with warnings that contact details in these databases can be unreliable (SearchFunder).
Is Preqin worth it for an emerging manager?
Only if fundraising is your main job this year. At a reported median near $49,000 (Vendr), Preqin can cost more than a first-time fund's annual research budget. Vendr also reports that API and data feeds add 30% to 60% to the base subscription and that multi-year terms bring 10% to 25% discounts. Read what Preqin costs after the BlackRock deal before you negotiate.
Preqin has fewer public reviews than PitchBook. TrustRadius shows a score of 7.7 out of 10 from 10 Preqin reviews and lists no free trial (TrustRadius), so a small fund has less outside evidence to go on and should ask for a demo on its own target LP list.
What do PitchBook users complain about?
The data on smaller companies. G2's summary of 262 PitchBook reviews counts 36 mentions of outdated information, 29 of limited data on small companies and 20 of price (G2). The same summary counts 64 mentions of easy data access and 45 of good support. Our guide to PitchBook's cost and alternatives sets out what small funds pay.
Does the BlackRock deal change Preqin?
It changes where the data lives. A 2026 guide reports that Preqin benchmarks were folded into Aladdin, eFront and Aladdin Wealth by July 2026 (Dakota). That guide is written by a competitor, so treat it as a prompt to ask Preqin in writing which modules stay available standalone for your full contract term.
Who should pick PitchBook?
Funds that spend most of their research time on companies and deals. If you source venture or buyout targets, track rounds and need comparable deals, PitchBook covers more of that work in one place. Vendr reports that both vendors commonly negotiate 20% to 30% below the first quote for multi-year terms and competitive evaluations (Vendr).
Who should pick Preqin?
Managers raising capital and allocators comparing funds. If your year depends on finding LPs, understanding their allocation preferences and benchmarking your track record, Preqin fits the job better, and it covers real estate, infrastructure and hedge funds alongside private equity.
When should you keep PitchBook?
Keep PitchBook if your team opens it every day for deal sourcing and comparable transactions, or if your LPs expect PitchBook benchmarks in your reporting. It remains the reference tool for that work. If you buy both, budget for each separately; guides note that the pair together usually costs well above what a small fund spends on any single tool.
Where does Tamarly Intelligence fit?
Tamarly Intelligence is Tamarly's research platform on companies, funds, countries and markets, built from official filings and open data. As of 17 October 2026 it holds pages on 2,888 funds, with holdings for 1,290 and country exposure for 2,696, and on 15,359 fund managers built from SEC filings, including Form ADV and 13F. Every figure links to the filing it came from.
It does not provide fund performance benchmarks, LP commitment data or investor names on private rounds, so it does not replace Preqin for fundraising or PitchBook for benchmarks. It suits a small team that wants sourced reads on managers, holdings and private companies alongside one of them. See how to read a Form D for the filings behind its venture data.
Read sourced pages on 2,888 funds and 15,359 managers free for 7 days
Frequently asked questions
Is Preqin cheaper than PitchBook?
Not usually. Vendr reports a median Preqin contract of $49,334 a year (Vendr), while 2026 guides report PitchBook between $12,000 and $70,000 a year depending on seats and modules (VC Beast). Quotes vary widely for both.
Does BlackRock own Preqin?
Yes. BlackRock completed its $3.2 billion acquisition of Preqin in March 2025 (BlackRock).
Can a small fund use both PitchBook and Preqin?
Yes, and many larger firms do. For a team under 5 people the combined cost is the obstacle, so most small funds choose the one that matches their main job this year and fill the rest with cheaper tools and public filings.
About the author. Melvine Manchau is the founder of Tamarly and author of the Tamarly Newsletter. He previously worked at PwC, Salesforce, BlackRock/eFront and Lazard.
About Tamarly Research. Tamarly Research is part of Tamarly Media, which holds no investment positions. Tamarly is a New York research house that studies how AI is changing regulated institutions.