Reaching €3 billion in assets under management "reflects the growing interest in private equity among individual investors", both of them emphasised.

Indeed, Moonfare remains committed to providing access to top-tier private equity fund managers with proven track records — and with ever-more attractive minimums. 

In February, the firm launched its ELTIF 2.0 retail strategy, offering a curated portfolio of private equity funds and co-investments starting at €10,000.* "Private equity is more accessible than ever. We are realising our true mission which is to democratise private equity for everyone," say Steffen Pauls, Founder and Co-CEO, and Lorenz Jüngling, Co-CEO. (*Access and minimum investments are subject to jurisdiction and eligibility. This strategy is not available in the UK.)

What does reaching €3 billion in assets under management mean for the firm and for our investors?  

Steffen Pauls: It’s a significant achievement. The scale means we can expand access to private equity to an even broader group of people but also to commit more money to our partners, the private equity managers. It also gives us the opportunity to diversify deal flow further with direct and proprietary investments, offering our investors a well-rounded suite of products.

Lorenz Jüngling: I agree, reaching €3 billion is a massive achievement. To see the business grow so fast is very rewarding for me and for the team I’ve helped to lead throughout these years. It’s certainly a moment of celebration but also reflection. In a scale-up business, five years can feel like twenty years in an established large corporation.

What milestone was the hardest to reach? 

SP: Definitely the first $100 million. Once we achieved that, it became obvious to me this was not just a good “friends and family” opportunity but a real business with the potential for high growth.

LJ: I agree with Steffen that the first $100 million to $1billion was a critical moment of validation. But we must also recognize the importance of sustaining our efforts to continue delivering growth for our investors and shareholders. We take nothing and no one for granted, and we must continue to earn our success.

Past 24 months were quite a ride in private markets. But I’m sure you’ve enjoyed a good challenge. What’s your personal highlight? 

SP: One of the things I'm most proud of is how we've kept innovating even as we grow. The launch of ELTIF strategy* was one of these key achievements, opening the door for individual investors in eligible jurisdictions to get into top-tier private equity at affordable minimums. It also really hits the mark with our goal to make private equity more accessible and shows we're ready to evolve with the market.

LJ: For me, one of the highlights was how we managed to deliver a smooth digital experience while navigating an increasingly complex regulatory environment. The upcoming launch of our new app and the introduction of a new ELTIF strategy also stand out as major achievements. 

Steffen, the period following the 2007-2008 financial crisis was a golden era for private equity. What makes you optimistic that the next decade will also be a success? 

The private equity market is in a strong position. Data suggests continued growth. For example, some estimates show the market could reach $20 trillion in assets by 2028 which is a significant leap from today’s $15 trillion.¹

There’s an incredible untapped opportunity of capital that sits with private individuals. Private individuals commit on average 2 percent of their assets, while professional investors commit on average 25%, some US endowment funds even up to 50%.² There is so much fuel for growth out there. 

And let's not forget the growing interest from institutional investors. A survey by Adam Street Partners found that 67% of institutional investors expect to increase their private deployment in 2024.³ This momentum is likely to attract more individual investors, making private equity more accessible to a wider audience. The “retailization” trend in PE will only continue.

Looking ahead, we expect the next few years to offer great opportunities nor only for fundraising but also for deal-making, with better economic conditions and more reasonable seller expectations. 

Lorenz, you have recently returned from a series of GP meetings. Are we already seeing a rebound in private equity?

We’re seeing emerging signs of a market rebound. Investor sentiment is becoming more optimistic. There's a noticeable increase in deal activity and capital inflows. Valuations are beginning to stabilise, which creates a more favourable environment for transactions. While it's still early, these signs give us confidence that private equity is on a good path to recovery.

Finally, what can you tell us about Moonfare’s plans? 

SP: Moonfare is at the forefront of the secular trend of democratising private equity. With the new ELTIF 2.0 regulations, we are now able to accelerate this movement and make PE more accessible to eligible retail investors starting at €10.000.* We are  best positioned, given our growing scale, to tap into current opportunities with new strategies like co-investments, secondaries and GP stakes funds. We will continue to unlock these alpha-generating investment opportunities. I strongly believe this will further improve our offering.

LJ: We are working on a new platform to continue improving our service. This will be another huge achievement for the team. We can't give too much away at the moment, but I believe it will cement our commitment to security and all-around top-notch user experience. I clearly see us as the innovation leader in the digital space in our industry.  

‍Important notice: This content is for informational purposes only. Moonfare does not provide investment advice. You should not construe any information or other material provided as legal, tax, investment, financial, or other advice. If you are unsure about anything, you should seek financial advice from an authorised advisor. Past performance is not a reliable guide to future returns. Don’t invest unless you’re prepared to lose all the money you invest. Private equity is a high-risk investment and you are unlikely to be protected if something goes wrong. Subject to eligibility. Please see https://www.moonfare.com/disclaimers.

‍*Access and minimum investments are subject to jurisdiction and eligibility. This strategy is not available in the UK.