Global private markets investment platform Moonfare announced it has closed its second-generation co-investment vehicle, Moonfare Co-Investment Fund II (MCF II), at $83 million, surpassing its fundraising target within 12 months.
The fund represents a 43% increase in size compared to its predecessor, Moonfare Co-Investment Fund I (MCF I), underscoring sustained demand from eligible individual investors and family offices for curated exposure to private equity co-investments. The company said the successful raise reflects growing investor confidence in its selective investment approach and broader proposition.
MCF II secured commitments from a diverse base of eligible investors across more than 20 markets, including individuals, single family offices, and smaller institutional investors. Demand was particularly strong in Germany, the UK, the Netherlands, and the United States.
Building on the strategy established by MCF I, the fund is managed by Moonfare’s investment team alongside a dedicated co-investment committee. MCF II is already approximately 30% deployed, with investments made alongside firms such as Hg, Vista and EQT. The fund will continue deploying capital progressively, targeting between 12 and 15 co-investments primarily across North America and Europe. Focus sectors include technology, financial and business services, healthcare, consumer, and industrials.
Moonfare said it expects to launch its third-generation vehicle, Moonfare Co-Investment Fund III (MCF III), within the next 12 to 18 months.
Founded in Berlin, Moonfare provides eligible individual investors and family offices access to institutional-quality private market opportunities with lower minimum investment thresholds. The platform offers exposure to funds managed by firms such as KKR, Carlyle and EQT, as well as proprietary co-investments, secondaries, and direct deals. As of the fourth quarter of 2025, the firm reported €3.9 billion in assets under management and serves more than 5,500 investors globally, operating across 24 countries with offices in New York, London, Zürich, Singapore, Paris and Luxembourg.
KEY QUOTES
“As private markets evolve and performance increasingly diverges between the best fund managers and the rest, investors are becoming more discerning. This is not just the case for institutional LPs – it is a trend we are seeing clearly in the private wealth channel. This close reflects investor confidence in our curated and selective approach to deliver strong returns.”
Steffen Pauls, Founder and Co-CEO, Moonfare
“We have a robust pipeline of opportunities for MCF II, driven by our relationships across established firms and with a leading set of emerging managers generating outsized returns in their niches. In a period of increasing dispersion, we remain highly selective in constructing a diversified portfolio for MCF II. We are proud to be able to offer our investors opportunities that would typically only be available to institutional investors.”
Philip Meschke, Head of Private Equity, Moonfare
