A year after securing a capital markets licence from the Monetary Authority of Singapore, digital private capital platform Moonfare has seen its assets under management in Asia hit $233 million, as of last week, the firm said. This is a significant growth from the roughly $120 million in AUM recorded at the end of last year, driven in large part by investors in Singapore, a spokesperson said.
Moonfare’s total AUM is more than 2.4 billion euros.
On average, more than 100 accredited investors based in Singapore are registered on Moonfare’s platform every month, the company’s head of partnerships, Asia Pacific, Kit Toh said. About 15% of these users are converted to investors on the platform.
Globally, the platform has more than 52,000 registered users, who will undergo a process before becoming active investors. There are about 3,500 investors on the platform.
Moonfare, founded in Berlin in 2016, offers retail accredited investors access to a range of private capital funds, beginning with a buyout strategy from Swedish private equity major EQT in 2018.
Last month, the platform brought on French private equity firm Eurazeo, which will use Moonfare to distribute its funds to wealth managers in Europe.
Other notable private equity GPs on Moonfare’s platform include KKR & Co, and Carlyle.
The platform has been seeing demand for buyout and secondary strategies from investors, the platform’s spokesperson said.
It is set to close its second buyout fund-of-funds next month, Moonfare Core Portfolio II, in excess of $100 million. A Moonfare spokesman also said the platform is set to launch a second growth fund-of-funds.
In February the company raised $15 million in an extension of its Series C round, from 7 Global Capital. That followed a $125 million raised in November 2021, in a round led by Insight Partners.
Moonfare has also recently launched a dedicated family office platform, which will offer its family office clients customised portfolios, the company said.
According to Bain & Company’s 2023 Global Private Equity report, individual investors hold roughly 50% of the estimated $275 trillion to $295 trillion of global AUM. However, this group of investors represent just 16% of AUM held by alternative investment funds.