Draft:Moonfare

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
TypePrivate
IndustryFinancial services:
Private Equity
(2016–present)
Founded2016 (2016)
FounderDr. Steffen Pauls
HeadquartersBerlin, Germany
Number of locations
8 Offices (2022)
Key people
  • Dr. Steffen Pauls (CEO)
  • Dr. Lorenz Jüngling (COO)
  • Frederik Meheus (Head of Commercial)
  • Magnus Grufman (Head of Investments)
Services
AUMIncrease US$2 billion (2022)
Number of employees
Increase 200 (2022)
Websitemoonfare.com

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] and Hong Kong[10]. 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 and Alexander Argyros, both of whom previously worked at private equity firm KKR.[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]

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.[16]
  • 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.[7]
  • In March 2022, €35m were invested led by London-based Vitruvian Partners.[17]

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.[18]
  • In July 2021 German liability umbrella provider Fondsdepot Bank began a partnership with Moonfare.[19]
  • In December 2021, private banking house Bordier & Cie entered into a partnership with Moonfare to boost the private equity offering for its private clients.[20]
  • In March 2022, investment and deposit marketplace Raisin DS partnered with Moonfare to add private equity as an asset class to its platform.[21]
  • 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.[22]

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. 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. 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. "Capital-investissement : Moonfare ouvre un bureau à Paris". Le Figaro. 11 October 2022.
  9. Horfsfall, Fergus (4 July 2022). "Private markets firm opens Swiss office to target wealth managers". Citywire.
  10. Chan, Cathy (28 April 2022). "PE Firm Moonfare Picks Singapore Over Hong Kong as Asia Hub". Bloomberg.
  11. 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. Agnew, Harriet (20 June 2022). "Traditional asset managers race to expand private investment alternatives". Financial Times.
  17. Robertson, Benjamin (28 March 2022). "Private Equity Platform Moonfare Gets Backing From Vitruvian". Bloomberg Law.
  18. Ricketts, David (11 March 2021). "Fidelity partners with Berlin fintech for private markets push". Financial News.
  19. Schrader, Jan (5 November 2021). "Ebase-Eignerin FNZ erwirbt Fondsdepot Bank". Börsen-Zeitung.
  20. Ruche, Sébastien (9 December 2021). "Ces plateformes qui démocratisent l'accès au private equity". Le Temps.
  21. Barth, Ulrike (23 March 2022). "Raisin macht jetzt auch in Private Equity". Finanz Business.
  22. Förster, Jan-Henrik (26 January 2021). "Private Equity Startup Enlists Lexington to Draw Wealthy Clients" (PDF). Bloomberg.
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