Best Database to Use While Raising Fund I VC in 2026: Altss vs. the Competition

TL;DR

Fund I fundraising in 2026 is no longer constrained by access to LP names — it is constrained by timing, signal detection, and relevance. Emerging managers need real-time allocator intelligence, deep family office coverage, decision-maker routing, and tools that help convert intelligence into credible outreach. Altss has become the default LP intelligence layer for Fund I managers by combining OSINT-powered allocator signals, verified family office and LP data, live LP-GP Connect, AI-assisted outreach, and — new in 2026 — a startup dataset that allows GPs to identify investable companies alongside allocators in one system.

Looking for the 2025 edition? Read the original guide: Best Database to Use While Raising Fund I VC in 2025: Altss vs. the Competition →

Fund I Fundraising in 2026: What Actually Changed

The fundraising environment for first-time and early-stage venture funds shifted meaningfully over the last 12–18 months. This is not speculation. It is observable in how capital moved, how allocators behaved, and how successful Fund I closes actually happened.

Three structural changes define 2026.

First, capital became more selective without becoming scarce. LPs have dry powder. Allocations to alternatives remain robust. But conviction thresholds rose. Allocators who previously took meetings with any credible GP now filter earlier and harder. The volume of Fund I managers in market created noise, and LPs responded by raising the bar on what earns attention.

Second, allocator behavior became quieter and faster. Decision windows that once stayed open for quarters now open and close in weeks. Family offices in particular stopped signaling intent publicly. Mandate changes happen without announcement. Team transitions happen without LinkedIn updates. The GPs who win are the ones who detect these shifts before competitors do.

Third, fundraising and sourcing converged. LPs no longer evaluate GPs solely on track record, thesis, and team. They want to see what you are seeing. The question "What deals are you looking at right now?" moved from the final stages of diligence to the first conversation. GPs who cannot demonstrate live sourcing credibility during fundraising lose to those who can.

Most emerging managers do not fail because they lack a thesis. They fail because they miss who is allocatable when — and cannot move fast enough once a window opens.

In 2026, Fund I fundraising is no longer a research problem. It is an intelligence execution problem. That distinction is why database choice matters more now than in any prior cycle.

The Core Mistake Emerging Managers Still Make

After working with hundreds of Fund I teams, the same pattern emerges repeatedly. Most GPs approach fundraising as if the world still operates like 2019.

They assume LPs declare mandates publicly. They assume allocator lists age slowly and that the same names from last year remain relevant. They assume institutional processes dominate early funds and that outreach quality improves with volume. They assume sourcing and fundraising are separate workflows that can be handled by different systems.

None of that reflects reality in 2026.

The truth is messier and more dynamic. Family offices, private wealth intermediaries, and principals drive most first-fund commitments — not institutions. Allocator windows open and close quietly, sometimes within a single quarter. Decision chains shift without notice as CIOs depart, family dynamics change, or portfolio strategies pivot. Context matters more than brand. A warm introduction from the right person at the right moment beats a cold email from a known firm. And GPs are expected to demonstrate sourcing insight during fundraising, not after close.

This is where legacy LP databases fall apart. They were not built for this reality.

Why Traditional LP Databases Underperform in 2026

Most legacy platforms were built for one of three use cases: institutional IR teams managing re-ups and existing relationships, consultants compiling static allocator research for one-time reports, or CRM systems supporting teams that already know who their LPs are.

These are legitimate use cases. But they are not Fund I use cases.

Legacy databases struggle because they assume allocators are static — that the list you pull today will be relevant in six months. They assume decision makers are obvious — that the person listed on the website is the person who controls the check. They assume timing is irrelevant — that reaching out in January versus March makes no difference. They assume outreach is downstream from research — that you first build a list, then figure out what to say.

Fund I GPs need tools that answer fundamentally different questions. Not "Who are the LPs in this sector?" but "Who is allocating right now?" Not "What is their stated mandate?" but "What changed recently that creates a reason to engage?" Not "How do I add them to my CRM?" but "Who actually controls the check and what do they care about this month?"

Answering those questions requires OSINT, not directories.

Related reading: Why Static LP Lists Fail Emerging Managers →

The 2026 LP Landscape: How Capital Actually Deploys

Understanding where Fund I capital comes from is foundational. The composition has shifted, and GPs who target the wrong segments waste months chasing allocators who were never going to write checks.

Family Offices: Still the Primary Engine

Family offices remain the backbone of Fund I capital, but in 2026 they behave differently than even two years ago.

The key shifts are measurable. More family offices now do direct investing alongside fund commitments, which means they evaluate GPs partly on co-investment potential. Thematic focus intensified — offices that were sector-agnostic in 2023 now concentrate on climate tech, AI, deep tech, or fintech. Decision cycles compressed from quarters to weeks. Public signaling decreased — fewer family offices announce commitments or publish investment criteria. And internal teams got leaner, with more delegation to one or two key decision makers rather than investment committees.

Many family offices now operate with a single CIO or Head of Investments, one or two analysts, and external advisors used tactically for specific sectors. This structure means decision-maker routing and timing signals matter far more than brand awareness. If you reach the right person at the right moment, the decision can happen fast. If you reach the wrong person or the right person at the wrong moment, you get silence.

Related reading: How to Find Family Offices That Invest in Venture Capital →

Private Wealth Intermediaries: Expanded Influence

Private banks, multifamily offices, RIAs, and outsourced CIOs now shape a larger portion of first-fund flows than most GPs realize.

The dynamics are straightforward. UHNW individuals increasingly prefer delegated allocation — they do not want to evaluate fund managers themselves. Wealth platforms bundle multiple client checks, which means a single relationship can unlock several commitments. And emerging managers gain one-to-many exposure through these channels, which is efficient for lean teams.

These intermediaries are still poorly represented in legacy LP databases. Most platforms focus on direct family offices and institutions, treating wealth intermediaries as a secondary category. But they are first-class citizens in how Fund I capital actually moves in 2026.

Institutional LPs: Contextual, Not Foundational

Institutional LPs continue to matter, but for most Fund I teams they play a validation role, not an anchoring role.

The practical reality is that institutions move slower than family offices. They require signal from other LPs before committing — they want to see who else is in the fund. They depend on internal timing cycles that may not align with your fundraising timeline. And they typically engage after traction exists, not before.

Fund I managers who chase institutions too early often stall momentum. The optimal pattern is usually to anchor with family offices and wealth channels first, then approach institutions once the fund has proof points. Exceptions exist, but they are exceptions.

Strategic Founders and Operators: Quiet Validators

Operator LPs, founders who have had exits, and angel syndicate leaders continue to provide something institutional capital cannot: credibility, early commitments, and informal signaling to other LPs.

A commitment from a respected operator in your sector signals to other allocators that someone with domain expertise believes in the thesis. These checks are often smaller, but they matter disproportionately for Fund I momentum.

The challenge is that these allocators are rarely captured in structured databases. They do not appear on institutional LP lists. They do not have profiles in legacy platforms. Discovering them requires OSINT-driven research, network mapping, and thematic intelligence.

Why OSINT Became Non-Optional by 2026

Allocator intent is rarely declared. It is inferred from behavior.

This is the core insight that separates modern LP intelligence from legacy directories. Family offices do not publish blog posts announcing "We are now allocating to emerging climate tech managers." CIOs do not tweet "Looking for Fund I GPs in enterprise AI." The signals are subtler, and they require systematic detection.

OSINT captures allocator movement through behavioral indicators.

Investment team hires and departures reveal mandate shifts. When a family office hires someone with a climate background, that is a signal. When a CIO departs, the decision chain resets and there is often a temporary pause followed by fresh evaluation under new leadership.

Family office entity formation indicates new deployment vehicles. When a new LLC or LP entity appears in regulatory filings tied to a known family, that signals fresh capital being organized for deployment.

Liquidity events in private holdings — portfolio exits, IPOs, secondary sales, recapitalizations — create allocation capacity. A family office whose portfolio company just exited has capital to redeploy. The window is typically 30 to 90 days before that capital gets committed elsewhere.

Satellite office expansion signals geographic mandate shifts. A family office opening in Austin, Lisbon, Riyadh, or Singapore is not just changing location — it is expanding its sourcing footprint and often its sector focus.

Thematic writing or speaking validates sector interest. When a family office principal speaks at a climate conference or publishes thoughts on AI infrastructure, that is not random. It indicates where their attention is focused.

Board seat changes imply sector conviction. A principal taking a board seat at a generative AI company signals more than passive interest — it signals active engagement with the sector.

Generational wealth transitions shift risk appetite. When control passes from one generation to the next, mandates often drift. The next generation frequently has different sector interests and higher tolerance for emerging managers.

In 2026, these signals often appear months before an LP becomes openly allocatable. The GPs who detect them first get meetings. The GPs who rely on static lists get silence.

Altss was built around the premise that fundraising intelligence must move faster than press releases.

Related reading: What Is OSINT and How Does It Apply to LP Research? →

Altss in 2026: What Makes It Different

Altss is not a static database. It functions as an allocator intelligence system.

The distinction matters. A database gives you names. An intelligence system gives you names, context, timing, routing, and actionability. The difference between those two determines whether your outreach gets responses or gets ignored.

At its core, Altss combines OSINT pipelines that continuously scan for allocator signals, human verification that confirms accuracy before data reaches users, behavioral modeling that identifies patterns in allocator activity, decision-maker mapping that routes you to the right person rather than the generic contact, and workflow-ready structuring that organizes data around how GPs actually run fundraising processes.

The platform currently covers over 9,000 verified family offices, more than 1.5 million LP and investor profiles, comprehensive private wealth intermediary data, full institutional LP coverage, and principals and strategic LPs who do not appear in legacy databases. Profiles refresh on approximately a 30-day cadence where signal density exists — meaning active allocators get updated more frequently than dormant ones.

Beyond coverage, Altss provides decision-maker mapping at the individual level, thematic investment profiles that show what sectors each allocator cares about, ticket-size behavior tracking that reveals typical check sizes, OSINT-based allocator signals that indicate timing, AI-assisted outreach drafts that help translate intelligence into messages, LP-GP Connect for structured discovery, and — new in 2026 — an integrated startup dataset.

New in 2026: Startup Dataset Integration

A major shift in 2026 is the convergence of fundraising and sourcing workflows.

Emerging managers are increasingly expected to demonstrate deal flow credibility during fundraising, not after close. LPs want to see what you are seeing. They want to know that your thesis translates into actual companies you can invest in. They want evidence that you have proprietary access or at least systematic coverage of your target sectors.

This changes what a Fund I GP needs from their intelligence stack.

Altss launched a startup dataset in 2026 to support this reality. Fund I managers can now identify startups aligned with their thesis within the same platform they use for LP intelligence. They can track emerging companies alongside allocator behavior — seeing both the supply side (startups raising) and the demand side (LPs deploying). They can spot sector momentum in real time, reference live deal activity in LP conversations, and bridge capital raising and capital deployment workflows in one system.

This matters because LPs increasingly ask "What are you seeing right now?" during the first meeting, not the final diligence call. Being able to answer that credibly — with data, with specific companies, with evidence of systematic sourcing — materially improves fundraising conversations.

The startup dataset is not a replacement for dedicated sourcing tools. But for Fund I managers who need to demonstrate deal flow credibility without maintaining separate systems, it closes an important gap.

Related reading: How GPs Use Deal Flow Data to Strengthen LP Conversations →

From Intelligence to Action: AI-Assisted Outreach in 2026

One of the largest execution gaps for Fund I teams is translation. You have intelligence. You know which LP to reach. You know what changed recently. You know why they might be interested. But how do you turn that into a message worth reading?

Most emerging managers do not have dedicated IR staff. The GP is writing emails between partner meetings, portfolio work, and sourcing. Time is compressed. And generic outreach — "I am raising a fund and would love to connect" — does not work.

Altss includes AI-assisted outreach drafts built on allocator signals, mandate context, and recent activity. These are not mass emails generated by automation. They are context scaffolds that help GPs articulate why this specific LP, reference what changed recently that creates relevance, and ground the outreach in observable behavior rather than generic pitching.

The drafts preserve a human, non-automated tone. They are starting points, not finished products. The GP still needs to review, personalize, and send. But the preparation time drops significantly.

In 2026, this is less about automation and more about compression. Faster preparation means more outreach capacity without sacrificing quality. Fewer mistakes mean fewer wasted opportunities. Higher signal-to-noise means better response rates.

For lean Fund I teams, this is not a nice-to-have. It is infrastructure.

LP-GP Connect: Live in 2026

LP-GP Connect is live and operational.

It provides a structured discovery layer that addresses a recurring Fund I problem: once an LP is identified, what do you give them that is worth reviewing?

Cold PDFs do not work. Generic decks do not work. LPs receive hundreds of inbound requests and have developed filters. They need something that lets them evaluate fit quickly before deciding whether to engage further.

LP-GP Connect enables LPs to explore managers by mandate, strategy, geography, and fund size. GPs are surfaced based on relevance and allocator behavior, not promotion spend. Evaluation happens through structured profiles that communicate fit efficiently.

It is not a marketplace. There is no pay-to-play. The goal is not to generate volume but to generate signal — matching GPs with LPs who are actually aligned.

For Fund I managers, this shortens the gap between "I identified this LP" and "They are reviewing my materials." That gap is where most fundraising momentum dies.

Altss Pricing in 2026

Pricing remains transparent and GP-aligned.

Standard pricing is $12,000 per seat per year for Family Office coverage and $15,500 per seat per year for Full LP coverage that includes institutions, wealth intermediaries, and strategic LPs.

Emerging manager pricing for Fund I and Fund II teams is $10,000 per seat per year for the Family Office module and $12,000 per seat per year for Full LP coverage on early commitment terms.

Multi-seat and platform pricing is available for venture studios and multi-fund platforms. The goal is to align cost structure with emerging manager economics rather than enterprise IR budgets.

See full pricing: Altss Pricing →

Altss vs. the Competition: A 2026 Perspective

Platform choice depends on use case. Different tools serve different workflows. The question is which tool matches Fund I fundraising reality.

Preqin

Preqin remains the institutional standard for certain use cases. Historical fund data is comprehensive. Institutional context is strong. Performance benchmarking is useful for diligence on other managers. If you need to understand the macro allocator landscape or research institutional LP behavior over time, Preqin delivers.

But for Fund I targeting in 2026, limitations are significant. Family office depth is limited — Preqin was built for institutions, and FO coverage reflects that. Signal discovery is slower — the platform updates on research cycles, not OSINT cadences. Contact routing is challenging — decision-maker mapping is weaker than firm-level data. And workflows assume multi-person IR teams, not solo GPs running lean.

The practical pattern is that Fund I managers use Preqin as secondary context — validating institutional LP history, understanding fund performance benchmarks, researching specific allocators in depth — while using Altss as the primary targeting and timing engine.

Dealroom

Dealroom is strong for startup ecosystems, company mapping, and European coverage. If you need to understand which companies raised in a given sector or map competitive dynamics, Dealroom delivers.

But for LP sourcing, the gaps are substantial. There is no allocator OSINT layer. There is no decision-maker routing for family offices. There is no LP timing intelligence. The platform was built for sourcing, not fundraising.

Dealroom is better suited to the sourcing side of the GP workflow than the fundraising side. The two can complement each other, but they are not substitutes.

Dakota

Dakota works well for specific use cases: teams heavily reliant on Salesforce integrations, GPs who attend Dakota's allocator events, and firms maintaining ongoing institutional relationships.

The event-driven model provides exposure to allocators in structured settings. The CRM integration is clean for teams already in that ecosystem. For institutional relationship management — tracking existing LP relationships, managing re-up processes, maintaining communication cadence — Dakota delivers.

But for Fund I discovery, limitations emerge. FO coverage is shallow compared to specialized family office platforms. There is no OSINT signal layer. Discovery is constrained to allocators already in the Dakota network. For emerging managers who need to find new LPs rather than manage existing ones, outreach must be supplemented by other tools.

FINTRX

FINTRX provides family office data with a different emphasis than Altss. Some GPs value its research orientation and user interface.

In 2026, the pattern we observe is that teams often pair FINTRX with OSINT-driven systems to address freshness and routing gaps. FINTRX provides a research layer; Altss provides a targeting and timing layer. They can coexist in a GP's stack.

G2 reviews offer perspectives on usability and data depth worth comparing directly.

FINTRX on G2 → https://www.g2.com/products/fintrx

Related reading: Altss vs. FINTRX: Full Comparison →

What Users Say About Altss

Feedback consistently clusters around the same themes.

A SourceForge reviewer described Altss as a "great family office database" and highlighted how easy it was to find relevant FO investors when seeking capital for a startup. The emphasis was on practical usability — not just data depth, but the ability to translate that data into actual outreach.

On G2, an LP described Altss as "the only LP database we actually use," emphasizing the real-time nature of updates and unusually high accuracy of contact information. The distinction was between platforms that provide stale lists and platforms that provide current intelligence.

Another reviewer called it "the most detailed family offices database for personalized outreach," citing the ability to craft deeply tailored emails based on FO-specific insights. The point was not volume of data but actionability of data.

These reviews point to the same underlying themes: freshness, organization, depth, and practical usability for real fundraising workflows.

Altss on SourceForge → https://sourceforge.net/software/product/Altss/

Altss on G2 → https://www.g2.com/products/altss

Why Fund I GPs Standardize on Altss in 2026

Across emerging-manager workflows, three reasons dominate.

Family Office Coverage That Converts

Altss offers depth at the decision-maker level, not just firm lists. The difference matters because Fund I success depends on reaching the right person, not the right organization. A family office with three investment professionals has three different entry points, each with different interests, availability, and decision authority. Knowing which one to reach — and why — determines whether outreach converts.

OSINT-Driven Timing

Knowing when to reach out matters as much as knowing who. An LP who was unresponsive six months ago may be actively allocating now because of a portfolio exit, a team hire, or a mandate shift. An LP who seems perfect on paper may be in the middle of an internal transition that makes them temporarily unreachable. Altss surfaces these timing signals so GPs can prioritize based on current allocator state, not static profiles.

Integrated Fundraising and Sourcing

The startup dataset closes the loop between thesis, deal flow, and LP conversations. Fund I managers no longer need separate systems for LP intelligence and sourcing intelligence. The convergence of those workflows — which LPs now expect — happens in one platform.

FAQ — Fund I LP Intelligence and Fundraising in 2026

What changed in Fund I fundraising between 2025 and 2026?

The biggest shift is convergence. LPs now expect GPs to demonstrate sourcing credibility during fundraising, not just after close. The question "What are you seeing right now?" moved earlier in the process. Additionally, allocator windows became shorter and quieter, making OSINT-driven timing more critical. GPs who relied on static lists in 2025 found those lists obsolete faster in 2026.

Why is Fund I fundraising structurally different from raising Fund III or IV?

Later funds rely on institutional re-ups, established credibility, and brand recognition. Fund I has none of these. It depends on FO capital, private-wealth channels, and thematic alignment. The intelligence layer matters disproportionately because you cannot fall back on existing relationships or brand equity.

Why are family offices still central to Fund I in 2026?

They have flexibility that institutions lack. Decision cycles are shorter. Interest in forward-looking sectors is higher. They deploy based on relationships and conviction rather than rigid allocation models. In 2026, many FOs also increased direct investing alongside fund commitments, which creates additional touchpoints for GPs who can offer co-investment potential.

Why do legacy LP databases underperform for Fund I?

They were built for large institutional workflows, not FO-heavy, signal-driven outreach. Many contain outdated contact info and lack the segmentation emerging managers require. Most critically, they do not capture the timing signals that determine allocator readiness. A list of LPs is not useful if half of them are not allocating right now.

Why is OSINT essential for LP discovery in 2026?

Because allocator intent is rarely declared. It is implied through hiring patterns, deal behavior, thematic interviews, wealth events, and quiet structural shifts. OSINT captures these signals long before a mandate becomes public. By the time an LP announces they are allocating to a sector, the best GPs have already had meetings.

How does the Altss startup dataset help with fundraising?

LPs increasingly ask "What are you seeing right now?" during fundraising conversations. The startup dataset allows GPs to reference live deal flow, demonstrate thesis alignment with market activity, and show sourcing credibility — all within the same platform they use for LP intelligence. It bridges the gap between "I have a thesis" and "I have evidence that thesis translates to investable companies."

Do Fund I managers still need Preqin?

It is useful for institutional context, macro allocator trends, and later funds. But as a Fund I targeting system, it is insufficient. Most Fund I managers pair a research tool like Preqin with a targeting system like Altss. The combination covers both institutional research and FO targeting.

How many LPs does a Fund I GP realistically need?

Often only 20 to 40 to close the fund. But those must be the right 20 to 40. This is why segmentation matters more than volume. A list of 500 LPs is less valuable than a list of 50 who are thematically aligned, currently allocating, and reachable through mapped decision makers.

Do LPs respond to cold outreach?

Yes — if the outreach is contextual, timed correctly, and demonstrates understanding of their mandate or recent signal. Without personalization, cold outreach is ineffective. The difference between a 2% response rate and a 15% response rate is usually context quality, not volume.

How does allocator timing affect Fund I success?

LPs open and close windows of interest based on internal and external triggers. Reaching them during the wrong window leads to slow or no replies. A family office in the middle of a CIO transition is not evaluating new managers. A family office that just had a portfolio exit is actively looking. Timing is one of the most underrated edges in Fund I fundraising.

What is the difference between LP-GP Connect and a marketplace?

Marketplaces are typically pay-to-play and promote GPs regardless of fit. LP-GP Connect is a structured discovery layer where LPs explore managers based on relevance and mandate alignment. GPs are surfaced based on fit, not promotion spend. The goal is signal, not volume.

Should Fund I outreach be automated?

Automation is useful for follow-ups, not for first-touch LP communication. Personalization is essential. Automation without segmentation damages trust. AI-assisted drafting helps with preparation while preserving a human tone — it compresses time without sacrificing quality.

Final Word: Fund I Fundraising Is an Intelligence Game

In 2026, Fund I fundraising rewards precision over volume, timing over persistence, context over branding, and sourcing credibility over promises.

Legacy databases still have value for specific use cases. But they were not built for how capital moves today. They were built for a world where allocators were static, mandates were public, and timing was irrelevant.

Altss reflects the modern reality: OSINT-powered allocator intelligence, deep family office and LP coverage, decision-maker routing, AI-assisted outreach, LP-GP Connect, and an integrated startup dataset.

For emerging managers, the right database is no longer a convenience. It is the operating system of the raise.

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