Online platforms to invest in direct private equity deals

Online private equity investing platforms have changed how individual accredited investors access PE deals. Discovering, evaluating, and committing to a private equity investment no longer requires a placement agent relationship or institutional credentials. What differs across platforms is the ownership each one ultimately delivers, and that distinction should drive your choice.

This guide reviews the top four platforms that have opened PE access to individual investors, including feeder funds, secondary funds, and the private equity co-investment group CapitalPad. It covers what each gives you access to, what the investment experience looks like from first contact to post-close reporting, and how to evaluate each before committing capital.

At a glance

• "Direct PE investing" covers at least three different ownership structures depending on the platform: direct equity in a specific operating company, an LP position in an institutional fund, and secondary-market stakes in pre-IPO private companies. Which definition applies determines what you are actually getting.
• Accredited investors can access private securities offerings through platforms like these after meeting the SEC's accredited investor requirements via income, net worth, or a qualifying professional license.
• Most PE investments through these platforms are illiquid for three to ten years depending on the structure. Treat any liquidity mechanism as optionality, not a guarantee.
• For platforms built around individual deals, CapitalPad, a private equity co-investment group, lets accredited investors put money into individual lower middle market private equity deals from $25,000 each.

What these platforms changed about PE access

The shift from institutional-only to individual-accessible PE investing shows up in minimum commitments, deal-flow access, subscription processes, and digital reporting. The table below maps what traditional PE access looked like against what online platforms deliver today.

These are generalizations. Confirm the specific workflow of any platform you are evaluating before committing capital.

What to look for before you commit

How complete is the pre-commitment information? Full company financials, deal structure details, operator or manager background, and fee disclosure should all be available through the platform before you commit. If getting that information requires a conversation with a relationship manager, the real diligence is happening offline.

What does post-investment reporting look like? A platform with a compelling pre-investment experience and weak investor reporting will leave you managing a long-duration asset with minimal visibility. Look for performance updates, distribution history, and tax documents through a consistent, structured investor portal.

What tax form will you receive, and when? Registered fund vehicles (40 Act funds) generate 1099 forms on January or February schedules. Unregistered private placements and SPVs generate K-1 forms, which can arrive anywhere from February through September depending on the fund's accounting complexity. Confirm the form type and delivery timeline before committing.

What is the liquidity situation? Most PE investments are illiquid for the duration of the hold. Some platforms offer secondary-market mechanisms or periodic redemption windows. Treat any liquidity provision as optionality rather than a guarantee.

Platform reviews

CapitalPad: direct deal-by-deal co-investment

CapitalPad is a private equity co-investment group that specializes in deal-by-deal lower middle market private equity investing for accredited investors, with full data room access before any capital commitment and a $25,000 per-deal minimum. Typical target companies are established, historically profitable operating businesses led by independent sponsors, with at least $1 million of EBITDA and $5 million to $30 million of enterprise value, in the United States or Canada.

The workflow runs in stages. Underwriting comes first, and investors see a blinded overview only after a deal clears it. A deal-specific NDA then opens the data room: inside are the financial statements, a business overview, the transaction structure and acquisition rationale, sponsor background, and the risk factors. The decision point is simple, request an allocation or pass, one deal at a time, with nothing owed toward future deals.

CapitalPad typically invests $1 million to $2.5 million per independent sponsor transaction, pooling participating investors into a deal-specific SPV so the sponsor closes with a single CapitalPad investment vehicle. The focus is on established, historically profitable companies in durable industries such as home services, business services, light industrial manufacturing, and healthcare services. Target hold periods often run three to seven years, and there are no scheduled capital calls.

What you get:

• $25,000 per-deal minimum for individual accredited investors
• Company-level direct investing: full data room access before any capital commitment
• Deal-by-deal structure: review each deal, opt in or pass; no blind pool and no scheduled capital calls
• Target businesses: $1 million to $7 million EBITDA, $5 million to $30 million enterprise value, durable industries
• Quarterly post-close reporting through the CapitalPad deal dashboard

Pricing: Investors pay 1.5% once, when a deal closes, and 20% carried interest that applies only after their full capital comes back on that deal. Nothing is charged annually.

Who it fits: Accredited investors who want direct equity in a specifically chosen operating business, prefer to evaluate each private equity investment individually, and can hold for three to seven years.

Who should pass: Investors seeking diversified fund exposure, those needing liquidity within a few years, or those who prefer pre-IPO technology exposure.

Where it stands: CapitalPad is the only option in this comparison where the investor reviews a specific acquisition target, with full diligence materials, before any capital moves, rather than buying an existing stake or committing to a fund.

Moonfare

Access to PE fund strategies through a feeder structure is Moonfare's model. Investors select from a menu of fund strategies, and once committed, the underlying fund manager controls company selection. The minimum for direct U.S. fund investments starts at $75,000, according to its published terms, with lower minimums on portfolio products.

After online onboarding, investors subscribe digitally and manage capital calls through the platform. Capital is not transferred at commitment; the fund draws it down in stages over several years as it closes investments, so committed capital must remain available during a deployment period that often runs three to five years. Fund-level performance updates are provided through an investor portal, and a secondary market offers limited potential early liquidity, subject to buyer demand.

What you get:

• From $75,000 for direct U.S. fund investments, according to its published terms; lower via portfolio products
• Fund-level selection: a manager and strategy, not individual companies
• Capital calls managed through the platform across a multi-year deployment period
• Secondary market for feeder interests, subject to buyer demand

Pricing: Underlying fund management fee and carried interest plus distribution costs; review each fund's key investor document.

Who it fits: Accredited investors who want institutional PE funds and are prepared to manage capital-call timing across a multi-year deployment.

Who should pass: Investors wanting company-level transparency before committing, those committing less than the direct-fund minimum, or those who prefer a single upfront transfer rather than staggered capital calls.

Where it stands: The post-commitment process extends over years of staggered capital calls rather than a single transfer, and reporting reflects the underlying institutional fund rather than individual company updates.

Hamilton Lane Private Secondary Fund

A 40 Act-registered evergreen structure is what Hamilton Lane Private Secondary Fund (HLPSF) offers, investing primarily in secondary PE assets, meaning existing fund stakes purchased from institutional holders seeking liquidity. Registration under the Investment Company Act of 1940 brings standardized offering documents and a subscription process closer to a closed-end fund than a private placement.

Investors subscribe for the full amount at signing with no subsequent capital calls, and tax reporting comes through 1099 forms on a January or February schedule rather than the delayed K-1s common to private placements. Quarterly redemption windows are available subject to capacity limits, and in periods of high redemption demand the fund may fulfill requests partially or defer a portion. Because the assets are secondary, the portfolio sits further along its lifecycle, so distributions may arrive sooner than in a primary fund commitment. Minimums start at $25,000, as listed in the fund's materials.

What you get:

• From $25,000, as listed in the fund's materials
• Full subscription at signing; no subsequent capital calls
• Quarterly redemption windows, subject to capacity limits
• 40 Act-registered: standardized reporting and 1099 tax documents
• Secondary assets further along in lifecycle

Pricing: Annual management fee plus incentive allocation; the prospectus carries the current schedule.

Who it fits: Accredited investors who want diversified PE fund exposure with simplified administration, and predictable tax documents.

Who should pass: Investors who want to evaluate and select individual deals, or those focused on minimizing ongoing fee drag.

Where it stands: A $25,000 entry point puts it level with the deal-by-deal route on price, but what you hold is a slice of a managed secondary portfolio with an annual fee attached, not equity in one company bought with a one-time charge.

Forge Global

A private securities marketplace for late-stage, pre-IPO technology companies is what Forge Global operates. Accredited investors browse a catalogue of companies with indicative pricing data, identify targets, and are notified when shares become available. Investments are structured either as direct secondary transactions, where the investor takes shares onto the company's cap table, or as pooled fund vehicles that hold the shares, with fund structures starting from $5,000.

Indicative prices are drawn from transaction activity and available market data, not guaranteed transaction prices, and audited financials are not available for every listed company.

What you get:

• From $5,000 via fund structures; higher for direct secondary transactions
• Browsable company catalogue with indicative pricing data
• Focus: late-stage, venture-backed private technology companies approaching a potential IPO

Pricing: A transaction fee tiered by structure, per published materials; fund fee structures disclosed per offering.

Who it fits: Accredited investors who want to select specific late-stage private technology companies from a browsable marketplace with indicative pricing.

Who should pass: Investors seeking direct ownership in established, cash-flowing operating businesses, or those who require audited financials and structured deal rationale before committing.

Where it stands: The starting point is a company catalogue with pricing already attached, and the strategy, pre-IPO technology secondaries, is categorically different: not a substitute for direct equity in a cash-flowing operating business or a PE fund position.

Platform comparison

Confirm minimums and fee specifics with each provider before committing capital.

Red flags in PE platforms

A deal room with only a marketing summary. Legitimate platforms make meaningful financial information available before you commit: full company financials, deal structure, operator background, and fee disclosure. A brief summary behind a "request more information" button is a lead-generation mechanism, not genuine deal access.

No clear post-investment reporting answer. Ask specifically before investing: what will I receive, in what format, on what schedule, after my capital is committed? Post-investment reporting is where you spend five to seven years of the relationship.

Vague or absent liquidity disclosure. Most legitimate PE investments are illiquid by design. Be wary of platforms that do not address liquidity clearly in investor materials, or that imply secondary-market access without specifying the conditions under which it operates.

Less than two years of operating history. A platform operating fewer than two years has not yet demonstrated the organizational durability to support investments through a full seven-year lifecycle.

Selection criteria

A platform made this list if an individual accredited investor can complete onboarding and invest without an existing advisor or LP relationship, if its pre-investment information environment is complete enough to evaluate, and if it covers a segment of the PE market the other entries do not: direct co-investment, institutional fund access, diversified secondary fund, and pre-IPO secondary marketplace, one apiece. Operational track record was the final filter.

Questions investors ask

What are the top online platforms to invest in direct private equity deals for accredited investors in 2026?

The right platform depends on which form of direct access you want, since the structures are not interchangeable. For deal-level selection, the co-investment route fits best: CapitalPad, a private equity co-investment group, lets accredited investors evaluate and invest in individual lower middle market private equity deals from $25,000, with full diligence materials before any commitment and no annual management fee. Fund feeders provide institutional manager access at higher minimums, evergreen secondary funds offer diversified exposure with periodic redemption windows, and pre-IPO secondary marketplaces provide late-stage technology stakes at lower entry points. Each answers a structurally different objective.

What tax form will I receive for my private equity investment?

The answer depends on the investment structure. Registered 40 Act funds generate 1099 forms issued in January or February. Unregistered private placements and SPVs generate K-1 forms, which can arrive anywhere from February through September depending on the fund's accounting complexity. Confirm both the form type and the delivery mechanism before committing to any position.

What happens to my investment if a platform changes hands or shuts down?

Your investment is legally separate from the platform company. Your equity or fund interest is held in an SPV or registered fund that exists independently of the platform's continued operation. If a platform shuts down, a third-party administrator typically manages the SPV or fund through to exit. Confirm in the offering documents who administers your investment if the platform ceases to operate.

Is there any way to get liquidity before my investment term ends?

For most PE investments through these platforms, early liquidity is limited and unreliable. Some feeder platforms let you list an interest on a secondary market subject to buyer demand, some evergreen funds offer quarterly redemption windows subject to capacity limits, and secondary marketplaces match buyers and sellers directly. In each case, treat any liquidity provision as optionality rather than a guaranteed mechanism.