Moonfare’s head of investments in Europe set to depart

Moonfare’s head of investments in Europe is set to depart the digital fundraising platform at the end of February, Private Equity International has learned.

A spokesperson for Moonfare confirmed Sweta Chattopadhyay, who was named one of PEIs Women of Influence in Private Markets of 2021, is leaving the firm.

“We are grateful to Sweta for her great contribution to Moonfare as an important member of the investment team,” the spokesperson added.

Chattopadhyay is set to join the private bank arm of a UK-based multinational bank in early March, according to two sources with knowledge of the matter.

Chattopadhyay joined Moonfare in 2020 from LP advisory firm bfinance where she was head of private equity. Prior to her role at bfinance, she worked on the investment team of UK Railways Pension Scheme Railpen.

News of her departure follows an expansion of Moonfare’s senior team.

Disclosed late last year, the platform hired Sanjay Gupta as head of co-investments. He was previously head of private equity investing at Swiss wealth manager Union Bancaire Privée.

Russell Lane joined as head of GP solutions – focused on distributions and business development – from asset management firm Bridgewater Associates.

The firm also hired Sonja Lami as head of investment product from Insight Investment. She joined the firm mid-last year.

All three hires filled new roles for Moonfare. The spokesperson said Gupta, Lane and Lami were not brought on as Chattopadhyay’s replacement.

Separately, Moonfare on Wednesday said it had capped the extension of its Series C financing round at approximately $15 million, bringing the total capital raised in the round to over $130 million.

Internet and consumer technology venture capital investor 7 Global Capital joins Vitruvian Partners and Swiss private bank Bordier & Cie, which became shareholders last year, and Insight Partners which invested in the platform in 2021, according to a statement.

Moonfare experienced “overwhelming demand from shareholders and institutional parties wanting to participate in this extension round, demonstrating that Moonfare is solidifying its mission to democratise access to private equity”, chief executive and founder Steffen Pauls said.

Moonfare increased its assets under management by almost 60 percent to over $2.3 billion in 2022 with the number of Moonfare investors sitting at just under 4,000 at the end of the period, the statement said. The platform also increased the funds offered on its platform by 29 to reach 69 vehicles.

– Carmela Mendoza contributed to this report.