DigitalCFO Newsroom | 29 April 2022
Moonfare, the globally leading digital private equity investment platform, announced today that it has begun operations in Singapore.
- With the expansion into Singapore, Moonfare is now active in all major financial hubs in the world
- Moonfare’s disruptive platform leads the ‘Private Markets Go Retail’ trend by giving individual investors direct access to top-tier private equity funds at low minimums
- Singapore, as the world’s most preferred offshore wealth hub, provides huge potential for Moonfare’s growth
- With the new Singapore office and the existing Hong Kong office, Moonfare consolidates its leading position in Asia
Moonfare, the globally leading digital private equity investment platform, announced today that it has begun operations in Singapore. With only four months into 2022, this is the second growth milestone achieved by the Berlin-based FinTech company, having just announced its US debut in January. The rapid expansion is subsequent to the company’s USD 125 million Series C round, led by US-based technology investor Insight Partners, last year.
With its expansion into Singapore, Moonfare secures its place as the global leader of digital private market investment platforms with operations in all major financial hubs worldwide (London, New York, Zürich, Hong Kong and Singapore). Together with the existing Hong Kong office, Moonfare’s new Singapore office will further accelerate growth in Asia and consolidate its leading position in the region.
Moonfare is the global trendsetter of the ‘Private-Markets-Go-Retail’ phenomenon. By lowering entry minimums, the company enables individual investors to invest directly into top-tier, pre-vetted private equity funds that were formerly only accessible to institutional investors. Unique in the market, Moonfare offers individuals minimum entry as low as SGD 80,000 (USD 60,000). Moonfare can offer clients an unparalleled portfolio, through strong partnerships with renowned fund managers, including funds from industry giants such as KKR, The Carlyle Group, IVP, or Khosla Ventures. The offering is curated by a team of seasoned industry veterans from world-leading investment companies such as KKR, Apax Partners, J.P. Morgan and BlackRock. Moonfare’s completely digital end-to-end process allows new members to go from registration to investment within 15 minutes, thereby circumventing a lengthy administrative onboarding process.
As one of the major financial centres in Asia and the most preferred offshore wealth hub in the world Singapore holds strong potential for Moonfare to further tap into Asia’s growing wealth. In 2021, Asia recorded growth of 12% in its ultra-high-net-worth population, making it the best-performing region in the world, despite the COVID pandemic. Meanwhile, Singapore attracted strong inflows of capital into both traditional and alternative investment strategies as assets under management (AUM) in Singapore reached USD 3.5 trillion in 2020.
Moonfare currently serves a client base of over 2,500 investors. Since launching in Hong Kong in 2020, the company’s AUM in Asia has grown six times compared to the year before. Having obtained its license from the Monetary Authority of Singapore, Moonfare is now looking to extend this success story to Singapore.
Steffen Pauls, Moonfare’s Founder and former KKR Managing Director and seasoned industry veteran, is certain that setting a foothold in Singapore is a crucial part in the company’s ambitious growth plan.
“Singapore, as the leading offshore wealth management hub, holds a lot of growth potential for Moonfare and this expansion has been a strategic priority for us for a long time,” said Steffen Pauls. “Asia-Pacific continues to be one of the fastest growing regions for the HNWI population. With our Singapore and Hong Kong operations Moonfare is now present in both key hubs of the region, and is the only global digital D2C platform for private equity with a pan-Asian presence.”
Moonfare’s operations in Singapore will be led by Kit Toh, Head of Partnerships for Asia-Pacific. Prior to joining Moonfare, Ms. Toh was a Managing Director at Capital Group with expertise in asset management. She will oversee the Asia-Pacific market and devise business development strategies for the company’s rapid growth in the region.
“We are excited to announce the opening of Moonfare’s Singapore office, our second service point in Asia and it represents the strategic expansion of our brand,” said Kit Toh. “This opening is a testament of our commitment to extend our delivery and reach of Moonfare’s access to top-tier private equity investments to our clients. Together with the office in Hong Kong, I am confident we can transform capital markets through our best-in-class technology.”