Moonfare

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Moonfare
Company typePrivate
IndustryFinancial services:
Private Equity
(2016–present)
Founded2016; 9 years ago (2016)
FounderDr. Steffen Pauls
HeadquartersBerlin, Germany
Number of locations
8 Offices (2023)
Key people
  • Dr. Steffen Pauls (Co-CEO)
  • Dr. Lorenz Jüngling (Co-CEO and MD)
  • Magnus Grufman (MD)
  • Marine Eugène (CCO)
  • Sanjay Gupta (CIO)
  • Marc Lamik (CPTO)
Services
AUMIncrease US$3 billion (2024)
Number of employees
Increase 200 (2023)
Websitemoonfare.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 22 countries[6] from its headquarters in Berlin, Germany and its offices in the UK, USA,[7] Luxembourg, Paris,[8] Zurich,[9] Singapore,[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] €2bn in AuM in July 2022,[3] and €3bn in AuM in June 2024.[16] In September 2023, Marine Eugène joined Moonfare as Chief Commercial Officer.[17]

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.[18]
  • 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.[19]
  • In March 2022, €35m were invested led by London-based Vitruvian Partners.[20]
  • In February 2023, Moonfare raised $15m in its Series C extension round.[19]

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.[21]
  • In July 2021 German liability umbrella provider Fondsdepot Bank began a partnership with Moonfare.[22]
  • In December 2021, private banking house Bordier & Cie entered into a partnership with Moonfare to boost the private equity offering for its private clients.[23]
  • In March 2022, investment and deposit marketplace Raisin DS partnered with Moonfare to add private equity as an asset class to its platform.[24]
  • 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.[25]

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. ↑ 3.0 3.1 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. ↑ 7.0 7.1 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. ↑ 8.0 8.1 "Capital-investissement : Moonfare ouvre un bureau à Paris". Le Figaro. 11 October 2022.
  9. ↑ 9.0 9.1 9.2 Horfsfall, Fergus (4 July 2022). "Private markets firm opens Swiss office to target wealth managers". Citywire.
  10. ↑ 10.0 10.1 Chan, Cathy (28 April 2022). "PE Firm Moonfare Picks Singapore Over Hong Kong as Asia Hub". Bloomberg.
  11. ↑ 11.0 11.1 11.2 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. ↑ Heath, Ian (6 June 2024). "Moonfare hits €3bn AUM mark for first time". CityWire.
  17. ↑ Sidhika, Anika (11 September 2023). "Moonfare names a chief commercial officer". Private Banker International.
  18. ↑ Agnew, Harriet (20 June 2022). "Traditional asset managers race to expand private investment alternatives". Financial Times.
  19. ↑ 19.0 19.1 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.
  20. ↑ Robertson, Benjamin (28 March 2022). "Private Equity Platform Moonfare Gets Backing From Vitruvian". Bloomberg Law.
  21. ↑ Ricketts, David (11 March 2021). "Fidelity partners with Berlin fintech for private markets push". Financial News.
  22. ↑ Schrader, Jan (5 November 2021). "Ebase-Eignerin FNZ erwirbt Fondsdepot Bank". Börsen-Zeitung.
  23. ↑ Ruche, Sébastien (9 December 2021). "Ces plateformes qui démocratisent l'accès au private equity". Le Temps.
  24. ↑ Barth, Ulrike (23 March 2022). "Raisin macht jetzt auch in Private Equity". Finanz Business.
  25. ↑ Förster, Jan-Henrik (26 January 2021). "Private Equity Startup Enlists Lexington to Draw Wealthy Clients" (PDF). Bloomberg.
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