Moonfare: Platform Profile

Overview

Moonfare is a private-markets platform focused on giving qualifying individual investors access to institutional private-equity funds, portfolio products, co-investments, secondaries, and proprietary strategies.

For U.S. investors, the current legal broker-dealer is:

• Moonfare Securities USA LLC:
• CRD: 325838
• SEC number: 8-71091
• FINRA member: Yes
• SIPC member: Yes

Moonfare's current U.S. platform is not a low-minimum retail brokerage.

Current private-markets minimums are generally measured in tens of thousands of dollars.

May fit better for

• accredited or otherwise qualifying high-net-worth investors;
• investors seeking institutional private-equity funds;
• investors who want feeder-fund access below institutional GP minimums;
• investors comfortable with capital calls;
• investors seeking private-equity secondaries;
• investors able to hold private investments for many years.

May fit less well for

• small investors;
• investors requiring daily liquidity;
• investors who do not want capital-call obligations;
• users seeking public-stock or ETF trading;
• investors who assume SIPC protects private-equity fund performance;
• investors who cannot tolerate loss of principal.

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Current U.S. broker

Current FINRA BrokerCheck:

• Legal name: Moonfare Securities USA LLC
• CRD: 325838
• SEC number: 8-71091

Current Moonfare U.S. disclosures state securities products and services are offered through Moonfare Securities USA LLC.

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U.S. minimum reference

Current Moonfare U.S. private-markets education states:

• General US fund minimum: $75,000

Current direct or feeder opportunities can require more.

A current 2026 Form D for a Moonfare vehicle shows a $125,000 minimum.

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Secondary Strategy minimum

Current U.S. Secondary Strategy:

• Minimum: $25,000
• Capital call: 100% upfront
• Monthly subscription: Yes
• Quarterly redemption opportunity after lockup: Yes
• GP consent required: Yes
• Guaranteed redemption: No

This is structurally different from Moonfare's ordinary closed-end feeder funds.

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Direct-fund feeder fees

Current U.S. direct-fund page states:

• Direct fund feeder setup fee range: 1%–0%
• Direct fund feeder management fee range: approximately 0.75%–0.25%
• Membership dues: $0

The exact share class and investment documents control.

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Portfolio-fund fees

Current portfolio-fund materials state:

• Portfolio setup fee range: 1%–0%
• Portfolio management fee range: approximately 1%–0.65%

Proprietary funds, direct deals, open-ended funds, and secondaries can have different economics.

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Capital calls

Current direct-fund materials state that private-equity commitments are typically funded over time.

Current disclosures show:

• Typical upfront call: around 25% in many direct-fund examples
• Remaining commitment called over time: Yes

Moonfare can call more than 25% upfront where required.

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Secondary-market auction

Moonfare operates a structured secondary-market auction process.

Current FAQ:

• Secondary auction frequency: semiannual
• Seller fee: higher of 5% of Total Exposure or €5,000
• Minimum transaction size: €100,000 between buyer and seller
• Guaranteed sale: No

The Secondary Strategy and the secondary-market auction are different products.

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Private-equity liquidity

Current Moonfare disclosures repeatedly state that private-equity investments are highly illiquid.

A secondary market improves optionality but does not guarantee a bid.

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SIPC

Moonfare Securities USA is a SIPC member.

That does not insure:

• private-equity NAV;
• feeder-fund losses;
• capital-call obligations;
• lack of liquidity;
• manager underperformance.

Assessment

Moonfare sits between an institutional private bank and a consumer alternatives app.

It can lower access barriers relative to million-dollar GP minimums, but the current U.S. reference is still about $75,000 for ordinary fund access.

The $25,000 Secondary Strategy is a lower-minimum product with a different liquidity and funding model.

The critical comparison rule is:

Moonfare does not have one minimum, one fee schedule, or one liquidity rule across every product.