Moonfare, a global digital private equity investment platform has announced that it raised $15 million at the close of its Series C extension funding round.
The firm, which has its Asia Pacific offices headquartered in Singapore and Hong Kong, achieved a record valuation during the recent funding round. It also increased total revenues earned from Series C to over $130 million.
The company said in a statement that following the investment that Insight Partners made in November 2021, Vitruvian Partners and Swiss private bank Bordier & Cie also became their shareholders in March 2022.
“We 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,” said Moonfare Chief Executive Officer and Founder Steffen Pauls.
Following the extended Series C, Moonfare welcomed 7 Global Capital (7GC) as its newest institutional investor. 7GC is a leader cross-border venture capital firm that invests in capital-efficient internet and consumer technology companies with market-leading potential.
Earlier, they also investments in Jackpocket, Roofstock, Jio, Hims & Hers and several other companies.
Pauls said individual investors and their advisors are currently seeking refuge in private equity, especially with the very volatile public markets.
Moonfare targets to meet this growing market demand by giving an even broader range of like-minded investors access to their curated low-minimum private market funds.
They also plan to offer new products, expand into new markets and strengthen their senior management team with seasoned private equity experts.
In addition, the company is well equipped to meet its growth plans this year.
Moonfare offers individual investors and their advisors’ access to curated private equity investment opportunities. The firm allows investors to register and invest through a digital onboarding process and asset management platform.
The firm has so far offered more than 69 private market funds from top general partners worldwide like KKR, Carlyle, Permira and EQT, with an emphasis on private equity buyouts, venture, growth and real asset categories like infrastructure.
Its investment team conducts ground-up due diligence on all funds with less than 5% of the available funds passing this process and making it onto the Moonfare platform. It is for this reason that Moonfare has won the trust of more than 3,00 clients who have invested more than €2 billion on its platform.
Moonfare that is headquartered in Berlin, currently operates in 25 countries across Europe, Asia, and America and has offices in New York, Hong Kong, London, Zürich, Singapore, Paris and Luxembourg.
By end of December 2022, the company has managed to increase its assets under management by almost 60 percent or over $2.3 billion in the 12 months.
During the same period, the number of investors also grew by 40 percent to 3,393 while its community of registered users has more than doubled to over 48,000.
Moonfare has also increased the funds offered on its platform from 40 to 69 or 73 percent as it also entered into two new asset classes, Impact and Philanthropy in order to meet the exceptional growth demand.
Last year, Moonfare was launched in nine new jurisdictions including Scandinavia, Portugal, Israel and the US. It also set up four new offices in Singapore, New York, Zürich and Paris.