Moonfare GmbH, an investment platform that allows wealthy clients to invest in private equity funds, is getting its own private equity cash injection. Vitruvian Partners has invested $35 million into Moonfare to help finance the Berlin-based firm’s international expansion, according to a statement from Moonfare on Monday. London-based Vitruvian is currently deploying its fourth fund, which has 4 billion euros ($4.4 billion) under management.
The investment has pushed up the value of the platform, which invests cash raised from individual investors across Europe into funds managed by firms including Ares Management Corp, Carlyle Group Inc. and KKR & Co Inc. The firm is now valued at more than $600 million, according to Moonfare Chief Executive Officer Steffen Pauls.
Moonfare, which manages 1.6 billion euros of assets, last year raised money from Fidelity International and Insight Partners and has since expanded in the U.S. and Singapore. The firm may soon see others competing in the space. Private equity behemoth Blackstone Inc. is developing a fund specifically to target wealthy households, Bloomberg reported earlier this month.
Read more: Bloomberg
