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July 28, 2022

Digital private markets platform Moonfare enters UAE market

Germany-based digital private equity investment platform Moonfare has made its foray into the United Arab Emirates (UAE) with an aim to serve individual investors in the area.

With the launch, Moonfare intends to provide the investors from the seven Emirates with access to digital platform to directly invest in global private equity funds.

However, the service will not include investors from Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM).

The move comes as the wealthtech firm recently revealed its achievement of €2bn in assets under management, increasing its possessions by twofold in less than a year.

Moonfare noted that it primarily aims to provide services through ‘Private-Markets-Go-Retail’ model.

The company allows individuals to invest directly into pre-approved private equity funds, which were previously available for institutional investors only, by reducing entry minimums.

UAE residents will be able to invest in Moonfare portfolio at a minimum entry fee of $60,000, stated the company.

Moonfare CEO and founder Steffen Pauls said: “We are very excited to have achieved this important milestone and to realise Moonfare’s expansion into the UAE. We see enormous growth potential in this region.

“The UAE holds one of the largest pools of private capital globally and is home to increasing numbers of high-net-worth individuals (HNWIs).

“This group is looking for new opportunities to diversify their portfolios and is showing strong demand for better digital offerings when it comes to wealth management. The Moonfare platform with its easy and quick digital experience is ideally structured to meet these demands.”

Last year, the HNWI population in the Middle East rose by 5.5% due to the role played by countries like Israel and the UAE, which saw higher HNWI inhabitant growth than the global average.  

Furthermore, UAE witnessed a rise in UHNWI population by 17.5% last year amid an optimistic post-Covid and pro-investment regulatory environment, surpassing the global UHNWI growth volume.

In January this year, Moonfare announced the launch of its operations in the US.

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