I would like to give you an update on how we are encountering the ongoing Covid-19 pandemic and resulting high volatility in the financial markets. I am aware that many of you are running businesses and manage investments that are strongly impacted and would like to thank you for your concern and ongoing support for our business.
My first concern was to ensure that our customers, our employees and their families were safe. One of the benefits of being a digital platform business is that we are extremely flexible in terms of where we work and can interact with investors and partners via digital means. All Moonfare employees are therefore working from home. We also decided to postpone all of our planned Moonfare City Dinners, which we hope to resume hosting later in the year.
While I did not expect specifically a virus outbreak of such tragic dimensions, I have been anticipating and with my management team preparing for a strong and prolonged market downturn for a while. Therefore, we are well prepared and have measures implemented that will allow us to operate even through an extended downturn. well beyond 2021. Due to our fundraising last year we have a strong cash position and won’t be affected with changes in the financial markets.
The short answer is a decisive yes.
While we are hoping for a quick recovery as much as anyone else, we are preparing for an extended downturn. As a commitment to our investors, partners and the Moonfare-community we will focus in the coming weeks on the following areas, where we hope to add value and make a difference:
I am confident that Moonfare and private markets investing will come out of this crisis stronger and well prepared for accelerated growth.
Stay safe and healthy.
Founder and CEO Moonfare
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