Moonfare, a platform providing individual investors with access to private market funds, has successfully closed its first co-investment fund, which is registered in Luxembourg.

The company said that 320 investors in 21 countries allocated €58m to the Moonfare Co-investment Fund I (MCFI) over the previous 12 months. The minimum ticket was €50,000.

Moonfare is headquartered in Berlin, but MCFI’s master fund is a special limited partnership (SCSp) located in Luxembourg.

According to Moonfare’s 14 December 2023 press release: “The MCFI portfolio focuses on buyout deals and is well diversified by private equity sponsor, geography and sector. Its assets are sourced and selected by the fund’s dedicated investment team. The fund had five seed buyout assets at close. Moonfare expects the fund to be fully invested through the course of 2024.”

Moonfare founder and co-CEO Steffen Pauls stated: “Closing a first-time fund in this environment is a big accomplishment in itself. To have broadened access to such boutique investment opportunities is a significant step in our democratising mission. And achieving 16% above target in less than a year in current asset-raising conditions shows just how relevant we are to our investor base.”

Co-investment funds take minority stakes in companies that have received larger investments from private equity funds. Co-investment funds have typically only been available to institutional and well-connected investors.

“To date, Moonfare has offered more than 110 private-market funds from top general partners worldwide such as KKR, Carlyle and EQT with an emphasis on private equity buyouts, venture, growth and real asset categories like infrastructure,” the company stated. It also runs fund-of-funds and a secondary market on its platform. Moonfare said on its website that it had €2.7bn in assets under management globally.