Moonfare Pitch Deck: Slide-by-Slide Breakdown

The Macro Thesis of Private Equity Democratization

The Moonfare Series C deck is a masterclass in narrative-driven fundraising. Rather than leading with features or internal metrics, the company spends the first half of the presentation building an unassailable case for why private equity (PE) is the most attractive asset class of the 21st century. For a Series C round, where the business model is already proven, the goal is often to convince investors of the sheer scale of the opportunity. Moonfare does this by framing the 'retailization' of PE not just as a trend, but as a structural necessity for global investors.

Slides 1-2: The Performance and Growth Gap

Moonfare begins with a 'Unique Value Proposition' section that focuses entirely on market data. Slide 1 presents a 10-year annualized IRR comparison. The data shows that top-quartile global buyout funds have consistently outperformed the S&P 500 Public Market Equivalent (PME) from 2000 through 2018. By starting here, Moonfare establishes the 'Why': investors want in because the returns are superior.

Slide 2 shifts the focus to the shrinking public market. It notes a 'divergence between listed and private companies in the US,' where the number of public companies dropped from 6,000 in 2000 to 3,900 in 2015, while private companies grew to 7,900. This slide also introduces the geographic focus, showing a 7.9% CAGR in PE Assets Under Management (AUM) across Europe and APAC, reaching $1,400bn in 2018. This establishes the 'Where' and the 'How Much'—a massive, growing pool of capital that is increasingly moving away from public exchanges.

Slides 3-4: Value Capture and Asset Velocity

Slide 3 addresses the 'Pre-IPO' problem. Using high-profile tech companies like Twitter, Uber, Facebook, and Slack, Moonfare demonstrates that most value is now captured while companies are still private. The chart shows Multiple on Invested Capital (MOIC) over time, highlighting that by the time these companies hit their IPO (marked by black dots), the steepest part of the value creation curve has already passed. This is a powerful motivator for investors who feel they are 'too late' when buying stocks on the public market.

Slide 4 reinforces this by showing that since 2000, buyout asset value has grown 4 times faster than public equity market capitalization. The visual uses an indexed growth chart starting at 100 in the year 2000; by 2019, PE net asset value had reached an 8x multiple, while public equities only reached 2x. This 4x delta is the core of Moonfare’s 'mega trend' argument.

Slides 5-6: The Access Gap and the Blackstone Signal

Slide 5 identifies the specific problem Moonfare solves: the 'Access Gap.' It compares the exposure to private markets across different investor classes. Endowments lead with 52% exposure, and Pensions have 28%, but 'Individual Investors' sit at a mere 5%. Moonfare attributes this to a lack of professional asset allocation and, crucially, a 'lack of access to high quality supply.' This slide defines the target market—the underserved individual investor.

Slide 6 is a 'social proof' slide, but for an industry trend rather than the company itself. It features a quote from Bloomberg News (April 2019) stating: 'As early as 2023, 50% of Blackstone’s AUM are expected to come from retail.' By citing the world’s largest alternative asset manager, Moonfare validates its own existence. If Blackstone is pivoting to retail, the infrastructure to handle that retail influx (which Moonfare provides) becomes essential.

Slides 7-8: The Moonfare Solution and Distribution

Only on Slide 7 does the deck pivot to the product. It describes Moonfare as a 'digital platform for top-tier investment opportunities.' The slide lists four key pillars: sourcing and selection, building a community to lower minimums to €50k, a fully digital end-to-end process, and a digital secondary trading platform. This is the first time the €50k minimum is mentioned, which is a significant reduction from the millions typically required for direct PE investment.

Slide 8 explains the distribution strategy. The business is split into two channels: 1. B2C Business (Moonfare Direct) , which uses digital marketing and network effects to reach end-customers, and 2. B2B2C Business (Partnerships) , which provides custom solutions for private wealth management institutions. This dual-track approach suggests a diversified customer acquisition strategy that doesn't rely solely on expensive direct-to-consumer ad spend.

Slides 9-10: Solving for Liquidity and UX

Slide 9 tackles the 'elephant in the room' for private equity: illiquidity. The 'Traditional model' is described as having funds locked up for up to 10 years. 'Moonfare’s model' counters this with a 'digital secondary marketplace' that allows investors to buy and sell funds throughout the lifecycle. This is a critical piece of financial engineering that makes the asset class palatable for retail-adjacent investors.

Slide 10 emphasizes the 'Easy to access' nature of the platform. It shows the interface on a tablet and smartphone, highlighting a 'No barrier to entry' sign-up process (email, phone, password) that takes 'under a minute.' This 'Platform Agnostic' approach reinforces the 'FinTech' identity of the company, contrasting it with the paperwork-heavy, slow-moving world of traditional private banking.

What Moonfare Does Well

The deck is exceptionally strong at market education . For a Series C, investors are looking for a 'category king' in a massive market. By spending six slides on the macro-economic shift toward private markets, Moonfare makes its eventual success seem like a mathematical certainty of the financial markets. They don't just say they are a good company; they say they are the infrastructure for a global shift in capital.

The visual clarity of the charts is also high-tier. Using indexed growth (Slide 4) and clear bar comparisons (Slide 5) makes the 'Access Gap' easy to visualize. The branding is consistent, professional, and minimalist, which fits the 'Private Equity' aesthetic—conservative yet modern.

What is Missing from the Deck

Despite the successful $125M raise, the deck is missing several elements that would be mandatory for an earlier-stage startup:

Team Slide: There is no mention of the founders or the executive team. In a Series C, the 'who' is often as important as the 'what,' especially in a highly regulated space like FinTech. · Financials and Unit Economics: There are no slides showing revenue growth, Customer Acquisition Cost (CAC), Lifetime Value (LTV), or even current AUM. While these were likely in a separate data room, their absence from the main deck is notable. · The 'Ask': The deck does not state how much they are raising or what the funds will be used for (e.g., geographic expansion, product development). · Competitive Landscape: There is no mention of other platforms (like iCapital or Opto) that are also targeting the democratization of alternatives.

Founder Takeaways: Selling the Wave, Not the Surfboard

Founders should study this deck to understand how to sell a macro trend . If you are operating in a space where the market is shifting in your favor, you don't need to spend 20 slides on your features. You need to spend 10 slides proving that the world is moving in a direction that makes your company's existence inevitable.

Another takeaway is the use of institutional validation . Slide 6’s use of the Blackstone quote is a 'shortcut' to credibility. If the industry leader says retail is the future, and you are the platform for retail, you have successfully borrowed Blackstone’s authority to close your own round. Finally, the focus on solving a structural pain point (liquidity on Slide 9) is a lesson in product-market fit. Moonfare didn't just make PE easier to buy; they made it easier to sell, which is the real hurdle for non-institutional investors.