DFX Intelligence vs PitchBook
PitchBook is a private capital market data, research and software platform owned by Morningstar, covering venture capital, private equity, private credit, bank loans and M&A.[1] DFX Intelligence is a private-market intelligence and data company whose Data Factory resolves US public filings and registries into one graph of firms, funds, companies, people and dated events, with a source and a date on every fact.
The main difference is scope and method: PitchBook tracks millions of companies, investors, funds, deals, loans and executives and adds analyst research, while DFX publishes a narrower, US public-record graph where every figure is dated and sourced and the headline counts are free to read.[1]
Facts about PitchBook as of , each linked to its source below. DFX currently tracks 7,642 private equity firms, 7,180 venture capital firms and 2,366 private credit firms, as of 10 October 2026.
Side by side
PitchBook comes out ahead on 4 of the 6 rows below. We say so because a comparison written by one side is only worth reading if it is willing to lose.
| Criterion | DFX Intelligence | PitchBook | Edge |
|---|---|---|---|
| Breadth of coverage | Private equity, venture capital, RIAs, family offices, independent sponsors, private credit and BDCs, institutional allocators and real estate, each as its own graph. method | Tracks millions of private and public companies, investors, funds, deals, loans and executives.[1] | PitchBook |
| Geography | United States first. Firms elsewhere appear when they file with the SEC or sponsor a US transaction. method | Delivered as a platform for professionals globally who allocate, deploy or advise on capital.[1] | PitchBook |
| Analyst research | No sector analyst research. Records are built from filings and registries under published rules. method | Full-time analyst coverage across 30 sectors and emerging technology areas, with more than 2,400 research reports published in 2025.[1] | PitchBook |
| Free public figures | Headline counts, rankings and dataset pages are free to read, dated, and carry a recommended citation. method | Licensed per user: Morningstar reports that pricing is primarily based on the number of licensed users.[1] | DFX |
| Data delivery and AI | A real estate MCP server and an llms.txt index for AI assistants; the other graphs are read through the public pages. No CRM sync or bulk feed is published. method | APIs and data feeds through direct data products, and direct collaborations with Anthropic and OpenAI so subscribers can use PitchBook data inside those assistants.[1] | PitchBook |
| Who it serves | Deal teams, fundraisers, lenders, allocators and researchers working the US private markets from the public record. method | PE and VC firms, asset managers, LPs, investment banks, private credit investors, corporations and professional service providers.[1] | Even |
Who PitchBook is for
PitchBook serves private equity and venture capital firms, asset managers, limited partners, investment banks, private credit investors, corporations and professional service providers.[1]
- Choose PitchBook if you need one platform covering millions of companies, investors, funds, deals and executives across venture capital, private equity, credit and M&A, used by professionals globally.[1]
- Choose it too if sector analyst research matters to you: Morningstar reports full-time analyst coverage across 30 sectors and more than 2,400 reports in 2025.[1]
Who DFX Intelligence is for
Choose DFX if your question is about the US private markets as the public record shows them (Form ADV, Form D, 13F, BDC schedules of investments, pension board minutes) and you need every figure dated and traceable to its filing, or if you want to read the headline counts and dataset pages before you pay for anything.
How DFX sources its data
- SEC Form ADV filings since 2011 and the daily IAPD adviser feeds, for investment advisers, their private funds, owners and registered advisers. Method
- SEC Form D notices, for private fund offerings and venture rounds. Method
- SEC Form 13F holdings, read as long positions in 13(f) securities and never as a portfolio or as assets under management. Method
- Business development company 10-Q and 10-K schedules of investments, read position by position. Method
- Public pension board and investment committee minutes, for dated fund commitments, each carrying the sentence that states it. Method
Every registered source is listed on the sources page. The figures DFX publishes are on the statistics page (for example this one), and each dataset, with how to cite it, is on the datasets page.
Sources for the PitchBook column
- Morningstar, Inc. annual report on Form 10-K for 2025 (PitchBook section), filed 13 February 2026, read 10 October 2026.
Every statement about PitchBook on this page comes from the sources above, read on the dates shown. We do not state prices, ratings or judgements about another company's data. If something here is out of date, tell us and we will correct it.