A well-developed market for institutional clients combined with the rich pickings from alternative investments has for the past decade been pushing fintech platforms such as Moonfare and iCapital to open up private markets to a wider field of investor.

Of the two, Moonfare has targeted the retail investor whereas New York-based iCapital’s main aim, since it was founded in 2013 is to transform the way alternative investments are bought and sold to advisers, wealthy investors, asset managers and banks.