Surface answers with AI. Raise your fund with confidence. Keep every LP engaged.
Screen deals with AI-powered Q&A. Raise your next fund with branded, NDA-gated LP data rooms. Share quarterly reports with page-level analytics — all from one platform that sets up in under 5 minutes, not weeks like Ideals or Firmex.
No credit card required
VC fund operations are drowning in documents
Between deal flow memos, LP quarterly reports, term sheets, and portfolio company updates, VC firms juggle confidential documents across dozens of tools. One misshared file can derail a deal.
Deal flow document sprawl
Pitch decks, financial models, and due diligence materials for dozens of deals scattered across email, Dropbox, and Google Drive. Finding the right file wastes hours.
LP report confidentiality
Fund performance data, IRR calculations, and capital call notices sent via email attachments. No way to track who opened them or prevent forwarding.
Co-investment coordination
Sharing term sheets and deal memos with syndicate partners requires strict access control. Generic sharing tools make it impossible to enforce confidentiality.
Fundraising without infrastructure
PPMs, subscription agreements, and DDQ responses shared over email with no tracking. No way to know which prospective LPs are serious and which are just browsing.
Built for how VC firms actually operate
Legacy VDRs like Ideals, Firmex, and Digify charge enterprise prices for glorified file hosting. Peony gives you dedicated data rooms for deal screening, fund raising, LP reporting, and co-investments — with AI-powered Q&A, auto-indexing, and page-level analytics included on every plan.
Screen 10x more deals without 10x the analysts
Your team reviews hundreds of pitch decks, financial models, and cap tables every quarter. Peony's AI-powered Q&A reads every uploaded document so you can ask questions across an entire deal room instantly — spot red flags in minutes, not days, and pass on weak deals before they consume partner time.
AI-powered deal assessment
Upload a startup's pitch deck, financials, and legal docs into a deal room. Ask Peony's AI any question — revenue growth, burn rate, cap table issues — and get sourced answers in seconds instead of hours of manual review.
Red flag detection
AI surfaces inconsistencies across documents — revenue figures that do not match between the deck and financials, unusual cap table structures, or missing key disclosures. Discard bad deals faster so your partners focus on the winners.
Auto-indexed deal rooms
Documents are automatically organized and indexed the moment they are uploaded. No more manually sorting hundreds of files into folders — Peony's auto-indexing means every deal room is searchable from day one.
Raise your next fund with a data room that closes LPs faster
When you are raising a new fund, prospective LPs expect a professional, secure experience. Peony lets you distribute PPMs, respond to due diligence questionnaires with AI-drafted answers, and give each prospective LP their own branded portal with page-level analytics — so you know who is serious before the first call.
PPM & fund document distribution
Share your Private Placement Memorandum, subscription agreements, and fund terms through branded, NDA-gated links. Each prospective LP gets their own access link so you can track who reviewed which sections and for how long.
AI-powered DDQ responses
LPs send due diligence questionnaires with hundreds of questions. Peony's AI drafts answers from your fund documents — track record, strategy memos, compliance policies — so your team reviews and approves instead of writing from scratch every time.
LP commitment tracking
Page-level analytics show which prospective LPs are deep in your PPM versus just browsing the summary. Prioritize follow-ups with the LPs most likely to commit, and know exactly when to schedule that partner meeting.
Personalized reporting, fund branding, and LP engagement tracking
Give every LP a white-labeled experience that reflects your fund. Push quarterly updates in one click, track who read what, and know exactly which LPs need a follow-up call before they even ask.
Branded LP portals
Each LP gets a personalized, white-labeled experience matching your fund identity — your logo, your colors, your domain. No generic file-sharing links.
Quarterly report distribution
One click to push updated Q reports to all LPs with individual tracking. Replace the manual email-and-attachment workflow that eats up your IR team's time every quarter.
LP engagement scoring
See which LPs are most engaged, who has not opened your latest report, and when it is time to reach out. Prioritize re-up conversations with data, not guesswork.
Every question, answer, and document access in one audit trail
Legacy VDRs give you a folder and a prayer. Peony gives you isolated deal rooms, structured Q&A workflows with role-based permissions, and a complete audit trail of every view, download, and question — so diligence communications stay organized, secured, and defensible.
Deal-specific access rooms
Spin up isolated rooms per deal so no LP or co-investor sees another deal's materials. Each room has its own permissions, NDA requirements, and audit trail.
Structured Q&A workflows
Diligence questions and answers flow through a permission-controlled Q&A module — not scattered email threads. Assign questions to the right team member, track response status, and keep every exchange in a single, auditable record.
Co-investment sharing controls
Invite syndicate partners to specific deals without exposing your full pipeline. Grant time-limited access and revoke it the moment a deal closes or falls through.
Term sheet leak prevention
Watermark and screenshot-protect sensitive deal terms with per-viewer tracking. If a valuation memo surfaces where it should not, you know exactly who leaked it.
AI that reads your portfolio so you do not have to
Peony's AI-powered Q&A and auto-indexing work across every portfolio company update, board deck, and fund document at once. Surface key metrics, flag risks, and draft LP answers using your actual data — included on all plans, not an enterprise upsell like Ideals or Firmex charge.
Cross-portfolio search
Ask questions across all portfolio company updates at once. Compare revenue growth, burn rates, or hiring plans across your entire fund without opening a single PDF.
Board deck summarization
AI extracts key metrics and flags from portfolio company board materials. Get a one-page summary of every board deck before your next partner meeting.
LP question autopilot
AI drafts answers to LP questions using data from your actual fund documents. Stop spending hours pulling numbers for LP advisory committee meetings.
"Been using Peony for a few weeks now — it's a standout for the gated file sharing and data room functions. Intuitive, secure, beautifully designed, and an actually working AI, all while being very well priced versus competitors. Highly recommend giving it a try."
Michael Hui
Managing Director, Piton Partners
Robi Lin
Founder & CEO, Sepal AI (YC S24)
Peony is easily the best form factor for sharing client-facing material. It lets us stand out by embedding custom booking and website links into secure deck shares — DocSend and PDFs require 3 extra clicks to book a meeting.
Frequently asked questions
What is the best data room for venture capital firms?
Peony is the modern data room built for VC firms. Unlike legacy VDRs like Ideals and Firmex that charge enterprise prices for basic file hosting, Peony includes AI-powered Q&A, page-level analytics, and screenshot protection on every plan — including a free plan ($0).
How do VC firms use data rooms for deal flow management?
VC firms use data rooms to organize pitch decks, financial models, and due diligence materials for every deal they evaluate. Peony lets deal teams screen faster with AI-powered Q&A that reads uploaded documents and answers questions across an entire deal room instantly, so you can spot red flags in minutes instead of days.
What should a VC data room include for LP reporting?
A VC data room for LP reporting should include quarterly fund updates, capital call notices, IRR calculations, and portfolio company summaries. Peony gives each LP a branded portal with page-level analytics so you can track exactly who read your latest report and which sections they focused on.
How much does a venture capital data room cost?
Legacy VDR providers like Ideals and Firmex charge thousands per month for basic file storage. Peony offers a free plan ($0) with 2 GB storage, scales to $20/admin/month (Pro, 200 GB) and $40/admin/month (Business, 1 TB) — with AI-powered Q&A, auto-indexing, and screenshot protection included on every plan, and no per-viewer, per-page, or per-link limits so costs stay predictable regardless of fund size.
Can a data room help with co-investment coordination?
Yes. Peony lets you spin up isolated deal rooms per co-investment with independent permissions, NDA requirements, and audit trails. Peony's controlled redaction lets you permanently black out sensitive terms or valuations before sharing deal memos with syndicate partners. Partners only see the deals you invite them to, and you can revoke access the moment a deal closes — all without exposing your full pipeline.
How does AI help venture capital due diligence?
Peony's AI-powered Q&A reads every document in a deal room and lets you ask questions across financials, legal docs, and cap tables instantly. It surfaces inconsistencies between documents, flags red flags, and drafts answers to LP questions using your actual fund data. The 4-step Smart Q&A workflow lets counterparties submit questions, AI drafts answers from your documents, your team reviews, and only approved responses are published — keeping your side in full control. All AI features are included on every plan, not an enterprise upsell.
How do VC firms use data rooms to raise their own fund?
When raising a new fund, GPs share PPMs, subscription agreements, and track records with prospective LPs through Peony's branded, NDA-gated data rooms. Each prospective LP gets their own access link with page-level analytics so you can see who reviewed your PPM cover-to-cover versus who skimmed the first page. Peony's AI-powered Q&A drafts answers to LP due diligence questionnaires using your fund documents — track record, strategy memos, compliance policies — so your team reviews and approves instead of writing from scratch. The entire fundraise runs from a single platform that sets up in under 5 minutes.
Why do VC firms pick Peony over other data rooms for fundraising?
Three reasons: presentation, speed, and cost. Peony gives prospective LPs a polished, branded experience — your logo, your colors, clean document navigation — that reflects the professionalism of your fund, not a generic file-sharing link. The platform is intuitive enough that LPs navigate it without training or IT support, which matters when you are courting institutional allocators who evaluate dozens of GPs. Peony is secure with AES-256 encryption, NDA gating, dynamic watermarks, and screenshot protection, yet affordable at $40/admin/month with no per-LP or per-page fees. And because Peony sets up in under 5 minutes, you can spin up a fundraise data room the same day you start outreach — whether you are raising a seed vehicle or a Fund IV.
How long does it take to set up a VC data room?
Peony sets up in under 5 minutes with no sales call required. Upload your documents, configure permissions, and share branded links immediately. Legacy VDRs like Ideals and Firmex require onboarding calls and multi-week setup processes that slow down your deal pipeline.
Screen deals. Raise your fund. Report to your LPs.
Join VC firms already using Peony to screen deals with AI-powered Q&A, raise funds with branded LP data rooms, and share quarterly reports with page-level analytics — with enterprise-grade security at a fraction of legacy VDR pricing.
No credit card required