Moonfare Series Fund I LLC – Series K is a newly disclosed Delaware private investment vehicle connected to Moonfare, the international private-markets investment platform. An SEC Form D filed on September 17, 2026 identifies the issuer under CIK 0002112486 and reports that its first sale occurred on September 15, 2026. The filing states that $19.3 million had already been sold to 15 investors, with an indefinite total offering amount and a $250,000 minimum investment. These figures make Series K materially different from many newly formed Form D vehicles that appear in EDGAR before reporting any investor capital.
Independent Verdict
The available evidence supports the existence of Moonfare Series Fund I LLC – Series K as a real U.S. private-fund vehicle associated with the established Moonfare investment platform. The SEC filing provides a clear legal issuer, named investment adviser, related executives, New York business address and a securities-distribution entity carrying its own CRD number. Moonfare's public website independently describes a business model centered on pooling investor commitments through investment vehicles that provide access to private equity and venture-capital funds, which is structurally consistent with the Series K filing.
That does not mean the SEC has approved Series K, verified its investment performance or endorsed Moonfare. Form D is an exempt-offering notice rather than an investment-quality certification. Investors should therefore distinguish between verification of the legal and regulatory footprint and evaluation of the underlying investment, manager selection, portfolio exposure, valuation, fees, liquidity and return expectations.
SEC Filing Snapshot and What It Tells Us
The issuer is Moonfare Series Fund I LLC – Series K, a Delaware limited liability company formed in 2026. Its principal business address is listed as 12 E 49th Street, New York, NY 10017, with telephone number 929-538-3751. The filing classifies Series K as a pooled investment fund and, more specifically, an "Other Investment Fund." It is not registered as an investment company under the Investment Company Act.
The offering relies on Rule 506(b) of Regulation D and claims the Section 3(c)(7) exclusion under the Investment Company Act. This combination is significant. Rule 506(b) permits a private securities offering without general public solicitation, subject to applicable investor-eligibility requirements, while Section 3(c)(7) is commonly used by private investment vehicles whose securities are held by qualified purchasers.
The filing reports an indefinite offering size rather than a fixed fundraising ceiling. As of filing, $19,300,000 had been sold to 15 investors. The stated minimum investment accepted from an outside investor is $250,000. The vehicle does not indicate an intention for the offering to continue for more than one year.
Those numbers should be read carefully. The $19.3 million figure is the amount reported sold in this particular Series K vehicle at the time of the filing. It should not be interpreted as Moonfare's total assets under management, total platform capital or the size of the underlying private-market fund into which Series K may ultimately invest.
Who Actually Sits Behind Series K
The most useful part of this filing is the unusually clear connection between the legal fund vehicle and the broader Moonfare organization.
Moonfare GmbH is expressly named in the Form D as the investment adviser to the issuer. The filing identifies Moonfare GmbH at Köpenicker Strasse 40c in Berlin, Germany. Lorenz Juengling, Per Magnus Grufman and Steffen Pauls are also listed in connection with the investment adviser, with each identified as a managing director. Per Magnus Grufman signed the September 17 filing as Managing Director of the Investment Advisor.
There is also a separate U.S. distribution connection. Moonfare Securities USA LLC appears under sales compensation, with CRD 325838 and the same New York address used by the Series K issuer. The Form D explains that the broker-dealer is assigned 20% of the total management fee or carried interest that the manager or an affiliate receives from the relevant investor over the life of the investment.
This disclosure is particularly useful because it shows that investors should not treat every Moonfare-named entity as interchangeable. Moonfare Series Fund I LLC – Series K is the securities issuer. Moonfare GmbH is identified as the investment adviser. Moonfare Securities USA LLC appears in the distribution structure. The broader Moonfare brand represents the investment platform and group. Each has a different legal function.
Website Penetration: Does the Public Moonfare Business Match the Filing
The website cross-check produces a meaningful match rather than merely finding a company with a similar name.
Moonfare describes itself publicly as a private-markets investment platform designed to provide investors access to private equity and other private-market investments. Its own disclosures explain that investor commitments may be pooled through Moonfare investment vehicles that then invest in private equity or venture-capital funds. The company says these structures are intended in part to reduce the very high direct minimum commitments often required by private-market managers.
That description is consistent with the structure appearing in the Series K Form D: a separately named pooled investment vehicle, an investment adviser from the Moonfare organization and a U.S. distribution entity.
Moonfare's website also provides an important regulatory distinction. In May 2026, Moonfare announced that Moonfare Financial Services GmbH, a subsidiary of Moonfare GmbH, received authorization from Germany's BaFin to operate as an independent investment firm covering services including investment broking, investment advice and portfolio management. That license relates to Moonfare Financial Services GmbH and should not be misrepresented as a regulatory approval of Moonfare Series Fund I LLC – Series K itself.
Likewise, Moonfare's public documentation states that Moonfare GmbH acts as an investment adviser in structures where investor commitments may be pooled and invested into underlying alternative investment funds. This is substantially consistent with the adviser role specifically assigned to Moonfare GmbH in the Series K SEC filing.
One point deserves attention: Moonfare's general website describes investment minimums that can differ substantially by product and jurisdiction, including lower minimums for some portfolio, feeder and secondary-market offerings. Those general platform figures should not override the legal disclosure for Series K. The Series K Form D specifically reports a $250,000 minimum investment, so that is the relevant SEC-reported figure for this issuer.
What Investors Still Cannot Learn From Form D
Although this filing provides stronger entity-level verification than many newly launched private funds, substantial investment-level information remains outside Form D.
The filing does not identify the precise underlying fund or portfolio assets into which Series K invests. It does not provide audited financial statements, historical returns, target internal rate of return, portfolio-company valuations, distribution history, detailed carried-interest economics, leverage arrangements, capital-call schedule or expected fund duration.
It also does not establish whether an investor's economic exposure is identical to owning interests directly in an underlying private equity fund. Feeder and access vehicles may introduce an additional legal entity, administrative expenses, investment-adviser economics, platform fees or other structural differences. Those terms need to be checked in the subscription agreement, private placement memorandum, operating agreement and related investor documents rather than inferred from Form D.
Liquidity is another major consideration. Private-market fund interests generally cannot be treated like publicly traded securities, and an indefinite offering amount does not mean investors can redeem on demand. Moonfare operates private-market and secondary-market products, but availability of a broader platform secondary solution does not by itself guarantee liquidity for Series K investors.
Risk Factors
The strongest positive verification signal is consistency: the SEC filing names Moonfare entities and personnel that fit Moonfare's publicly disclosed private-market business. The $19.3 million already reported sold to 15 investors also demonstrates that Series K had progressed beyond a zero-investor formation filing when the notice was submitted.
The remaining risks are primarily investment-structure and disclosure risks rather than an obvious identity mismatch. Series K is a private investment vehicle relying on exemptions from the public-company and registered-investment-company frameworks. Public information is therefore materially narrower than for a listed security or registered mutual fund.
Investors should establish exactly what Series K owns, which underlying manager or fund receives its capital, the complete fee stack, whether Moonfare or affiliates receive management fees or carried interest, how valuations are produced, whether financial statements are independently audited, what transfer restrictions apply and how long capital may remain locked.
The filing's disclosure concerning Moonfare Securities USA LLC is also worth reviewing against subscription documents because it expressly links the distribution entity's economics to a percentage of management fees or carried interest received by the manager or an affiliate. This does not by itself indicate a problem, but it is economically relevant and should be understood before an investment is made.
Final Assessment
Moonfare Series Fund I LLC – Series K has a comparatively strong public identity trail. The September 2026 SEC Form D identifies a Delaware issuer, $19.3 million of securities sold, 15 investors, a $250,000 minimum investment, Moonfare GmbH as investment adviser and Moonfare Securities USA LLC in the distribution structure. Moonfare's public website independently describes an investment-vehicle model that is broadly consistent with the structure disclosed to the SEC.
The evidence therefore supports treating Series K as an identifiable Moonfare-related private investment vehicle rather than an unexplained entity merely borrowing a recognizable brand name. That conclusion should not be extended into a judgment about performance or suitability. The crucial next stage of due diligence is the underlying investment itself: portfolio exposure, fund manager, fee layering, valuation methodology, financial statements, conflicts of interest, transfer restrictions and liquidity.
SEC Form D is a notice of an exempt securities offering. Filing Form D does not mean that the SEC approved the issuer, reviewed the investment, verified the accuracy of every representation or guaranteed investor returns.