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Moonfare
Company type Private
IndustryFinancial services:
Private Equity
(2016–present)
Founded2016; 8 years ago (2016)
FounderDr. Steffen Pauls
Headquarters Berlin, Germany
Number of locations
9 Offices (2023)
Key people
  • Dr. Steffen Pauls ( CEO)
  • Dr. Lorenz Jüngling ( COO and CFO)
  • Magnus Grufman ( CIO)
  • Marine Eugène ( CCO)
Services
AUMIncrease US$2.8 billion (2023)
Number of employees
Increase 200 (2023)
Website moonfare.com

Moonfare is a digital investment platform that secures allocations in private equity and venture capital funds that generally have very high minimum investments or are offered only to institutional investors. [1] Moonfare, splits these investments into smaller tranches using feeder fund vehicles, and makes them available to investors at lower minimums. [2] Moonfare has offered funds with minimums of £50,000 in the UK, [3] €50,000 in Europe, [4] and $75,000 in the US [5]

Moonfare operates in 23 countries [6] from its headquarters in Berlin, Germany and its offices in the UK, USA, [7] Luxembourg, Paris, [8] Zurich, [9] Singapore, [10] Hong Kong [10] and Lisbon. As of November 2022, the business had 200 employees. The company’s investors include Insight Partners, Fidelity International, Vitruvian Partners, Bordier & Cie, ProSiebenSat.1 Media SE’s former chief executive officer Thomas Ebeling, former KKR & Co. partner Henrik Kraft and ex-BC Partners chairman Jens Reidel. [11]

History

Moonfare was founded in 2016 by Dr. Steffen Pauls, Heinrich von Liechtenstein, and Alexander Argyros. [11]

In 2019 Alexander Argyros withdrew from his operational responsibilities. [12]

In January 2022, Moonfare launched its operation in the US and opened its NY office. [7]

In April 2022, Moonfare launched operations in Singapore. [10]

In October 2022, Moonfare launched operations in Paris [8] and Zurich. [9]

Moonfare reached €500m in assets under management in 2020, [13] €1bn in AuM in 2021, [14] €1.5bn in AuM in March 2022 [15] and €2bn in AuM in July 2022. [3]

In September 2023, Marine Eugène joined Moonfare as Chief Commercial Officer. [16]

Funding

  • In 2019, Moonfare raised a two part Series A round with a combined cash raise of $28m. [11]
  • In March 2021, Fidelity International, a $706bn asset manager, bought a minority stake in Moonfare in a Series B financing round. [17]
  • In November 2021, Moonfare raised another $125M (approximately €105m) round in a Series C financing round led by Insight Partners and with participation of earlier investor Fidelity International. [18]
  • In March 2022, €35m were invested led by London-based Vitruvian Partners. [19]
  • In February 2023, Moonfare raised $15m in its Series C extension round. [18]

Partnerships

  • In June 2020, German bank Berenberg partnered with Moonfare to launch a private equity fund offering for its private clients. [9]
  • In March 2021, Fidelity International formed an exclusive distribution pact with Moonfare, with an agreement focusing on institutional and wholesale clients. [20]
  • In July 2021 German liability umbrella provider Fondsdepot Bank began a partnership with Moonfare. [21]
  • In December 2021, private banking house Bordier & Cie entered into a partnership with Moonfare to boost the private equity offering for its private clients. [22]
  • In March 2022, investment and deposit marketplace Raisin DS partnered with Moonfare to add private equity as an asset class to its platform. [23]
  • Lexington Partners, with $52bn in committed capital, participates as a buyer of stakes in Moonfare funds, providing Moonfare fund investors with liquidity potential twice each year. [24]

References

  1. ^ Espinoza, Javier (2 September 2019). "Private equity funds target the wealthy as the hunt for yield intensifies". Financial Times.
  2. ^ "Stellar Approach from Moonfare: Democratising and Digitalising the Private Equity Industry for All". Capital Finance International. 21 July 2020.
  3. ^ a b Oliver, Joshua (7 July 2022). "Private equity platform doubles assets under management". Financial Times.
  4. ^ Burger, Dani (16 June 2022). "Moonfare Investment Director on Private Equity Access". Bloomberg.
  5. ^ Darbyshire, Madison (19 September 2022). "Fund managers pitch 'alts' to retail investors as institutions max out". Financial Times.
  6. ^ Lau, Carly (28 September 2022). "Moonfare to enter India in digital PE platform's latest expansion". Asian Private Banker.
  7. ^ a b Burroughs, Callum (26 January 2022). "Moonfare, a startup that lets high-net-worth individuals invest in private-equity funds, is launching in the US". Business Insider.
  8. ^ a b "Capital-investissement : Moonfare ouvre un bureau à Paris". Le Figaro. 11 October 2022.
  9. ^ a b c Horfsfall, Fergus (4 July 2022). "Private markets firm opens Swiss office to target wealth managers". Citywire.
  10. ^ a b c Chan, Cathy (28 April 2022). "PE Firm Moonfare Picks Singapore Over Hong Kong as Asia Hub". Bloomberg.
  11. ^ a b c Syed, Sarah (12 April 2019). "Startup Moonfare Raises $28 Million to Help Wealthy Invest in Private Equity Funds". Bloomberg.
  12. ^ Schlenk, Caspar Tobias (19 December 2019). "Former N26 product manager joins Moonfare". Finance FWD.
  13. ^ Brandes, Wolf (15 March 2021). "Finanzdienstleister geben Zugang zu Privatanlagen". Börsen-Zeitung.
  14. ^ Tattersall, Michael (3 November 2021). "Moonfare's $125M raise underscores appeal of private markets to individual investors". Insider Intelligence.
  15. ^ Dowd, Kevin (26 January 2022). "Move Over, Merrill: A KKR Alum's Startup Gives Wealthy Investors Direct Online Access To PE Funds On The Cheap". Forbes.
  16. ^ Sidhika, Anika (11 September 2023). "Moonfare names a chief commercial officer". Private Banker Internatioanl.
  17. ^ Agnew, Harriet (20 June 2022). "Traditional asset managers race to expand private investment alternatives". Financial Times.
  18. ^ a b Burroughs, Callum (8 February 2023). "Check out the 11-slide pitch deck Moonfare, a startup that lets high-net-worth individuals invest in private equity funds, used to raise a $15 million extension". Business Insider.
  19. ^ Robertson, Benjamin (28 March 2022). "Private Equity Platform Moonfare Gets Backing From Vitruvian". Bloomberg Law.
  20. ^ Ricketts, David (11 March 2021). "Fidelity partners with Berlin fintech for private markets push". Financial News.
  21. ^ Schrader, Jan (5 November 2021). "Ebase-Eignerin FNZ erwirbt Fondsdepot Bank". Börsen-Zeitung.
  22. ^ Ruche, Sébastien (9 December 2021). "Ces plateformes qui démocratisent l'accès au private equity". Le Temps.
  23. ^ Barth, Ulrike (23 March 2022). "Raisin macht jetzt auch in Private Equity". Finanz Business.
  24. ^ Förster, Jan-Henrik (26 January 2021). "Private Equity Startup Enlists Lexington to Draw Wealthy Clients" (PDF). Bloomberg.
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