Moonfare vs Wealth Club
Two routes into private markets funds for high-net-worth and sophisticated investors
Moonfare and Wealth Club both give individual UK investors access to private equity and other private markets funds, and both are open only to certified high-net-worth or self-certified sophisticated investors.
Moonfare offers stakes in closed-ended private equity funds, co-investments, secondaries and evergreen funds through feeder funds it sets up, from managers including KKR, CVC and Warburg Pincus. Wealth Club lists evergreen private markets funds from managers including Apollo, Ares, EQT, Hamilton Lane and StepStone, alongside tax-efficient VCT and EIS investments.
Side-by-Side Comparison
| Feature | Moonfare | Wealth Club |
|---|---|---|
| Operator | Moonfare UK Limited (Co. no. 13262857) | Wealth Club Limited (Co. no. 09831162) |
| FCA status | Appointed Representative of Suntera Advisers (UK) Limited (principal FRN 692447); FRN 947638. Also: BaFin-authorised investment firm under WpIG (Germany, Moonfare GmbH, since May 2026; previously tied agent of DHD Deutsche Haftungsdach GmbH) | Directly authorised (FRN 725176) |
| Who can invest | High-net-worth and sophisticated investors only | High-net-worth and sophisticated investors only |
| Minimum | £25,000 | £3,000 (VCTs); private markets funds from £7,500 |
| What you buy | Fund units, held through a fund the platform sets up | Shares and fund units, held through a nominee |
| Returns | Not applicable | Not applicable |
| Investor fees |
|
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| Selling early | Semi-annual auction (spring/autumn) operated by Moonfare GmbH; stakes sold whole, min transaction €100,000; seller fee higher of 5% of total buyer payment obligation or €5,000; liquidity not guaranteed. Evergreen funds offer periodic redemptions. Otherwise locked for ~10-year fund life. | No platform secondary market. Semi-liquid private markets funds offer monthly/quarterly redemptions usually capped as a % of NAV and may be suspended; single-company EIS expected to be held 5+ years. |
| ISA, pension and tax wrappers | — | Stocks & Shares ISA, SIPP, EIS and SEIS |
| Auto-invest | — | — |
| FSCS protection | — | — |
| Founded | 2018 | 2016 |
| Scale | €4bn under management (Jul 2026) | £1.8bn invested (Mar 2026) |
Generated from Other.'s facts files, which are checked against the FCA Register, Companies House and each platform's own site. Dates show when a figure applies.
Key Differences
1. Regulation. Moonfare's UK business, Moonfare UK Limited, is an appointed representative of Suntera Advisers (UK) Limited rather than directly authorised, and its German parent, Moonfare GmbH, has been a BaFin-authorised investment firm since May 2026. Wealth Club is directly authorised by the FCA.
2. Fund types and liquidity. Much of Moonfare's range is closed-ended funds, typically held for seven to ten years. It runs a secondary auction twice a year where you can offer a stake for sale, with a seller fee and no guaranteed buyer. Wealth Club's private markets funds are evergreen, with monthly or quarterly redemptions that can be limited, delayed or suspended.
3. Minimums. Moonfare's UK minimums start higher than Wealth Club's lowest private markets fund. The table shows the current figures.
4. Fees. Moonfare charges a setup fee and an annual fee on its feeder funds, on top of the underlying manager's fees and carried interest. Wealth Club membership is free, and its Private Markets SIPP adds no charges beyond the funds' own; check each fund's documents for its costs.
5. Pensions and tax. Wealth Club offers a Private Markets SIPP and tax-efficient VCT and EIS investments. Moonfare doesn't offer ISA or tax-relief products for UK investors.
Who Is Each Platform Best For?
Moonfare
- Investors who want closed-ended funds, co-investments and secondaries
- Investors who can commit money for seven to ten years
- Investors who want to offer stakes in a twice-yearly secondary auction
Wealth Club
- Investors who want evergreen funds with periodic redemptions
- Investors starting with a smaller amount
- Investors who want private markets funds in a SIPP
Verdict
Both are for high-net-worth and sophisticated investors only. Choose Moonfare for closed-ended funds, co-investments and secondaries from large buyout managers, accepting long lock-ups and a higher minimum. Choose Wealth Club for evergreen funds with periodic redemptions, a lower starting point and the option of a SIPP, remembering that redemptions can be limited or suspended.
Disclaimer: Private equity and private markets funds are illiquid and high risk, and are suitable only for high-net-worth or sophisticated investors. You could lose all the money you invest, and it may not be possible to sell early. This comparison is information, not financial advice.
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