Welcome to your weekly overdose of all the best from Altea.
Altea is a private community made for and by the best alternative investors in the world.
If you activate your membership and don’t think you’ve got value out of Altea within three months, we’ll gladly refund your fee.
The community has a new look, and some elements have been moved around to improve the experience. Watch out for leaderboards in the next few weeks as well.
Table of Contents
New Members
Several new Alteans have joined recently, and they’re all fantastic additions to our community.
Make sure to pop by and say hi:
- Laurel Tincher is an all-around badass who has done it all.
- Christopher Schild is an engineering wiz with a penchant for real estate.
While you’re making them feel welcome, pop into Asks and Offers, where John B has made an offer you can’t refuse.
And if you’re in Texas next month, stop by Miguel’s tequila masterclass.
Live Deals
Launch Film Bridge Fund
With over $1 million in hard commitments from Altea members, the Launch Film Bridge Fund is the first SPV to break into the two-comma club.
In another first, Altea will co-GP the fund along with member Chris K. Daniels, who is working within his network to fill out the remaining allocation.
Deal Basics
- Investment Size: $5,000,000
- Minimum Investment: $20,000
- Potential IRR: 20% to 40%
- Deal Type: Debt (Bridge Loans)
- Deal Duration: 5 years
- Recent Performance: View
Deal Overview
The Launch Film Bridge Fund presents a unique investment opportunity in the film financing sector. The fund provides short-term bridge loans to carefully vetted film projects, typically for 8-14 weeks, to cover critical early-stage production costs. With a focus on senior-secured positions, rapid turnaround times, and comprehensive legal protection, including completion guarantees, the fund aims to generate attractive returns while mitigating risks inherent in film production financing.
Deal Status
The deal is with the lawyers, and if all goes well, we should have documents with LPs for review by Monday, 26 August.
We’ll open the deal portal shortly after that and aim to have all wires in by the end of September, if not earlier.
Upcoming Deals
Litigation Finance
Litigation finance is tricky, so we’re compiling a short series to explain the asset class.
- What’s litigation finance
- Litigation finance deal types and structures
- Litigation finance risks and what to watch out for (next week)
- Litigation finance – Deal Memo (in two weeks)
There’s around $150k worth of interest in this one already, and we’ll put together an SPV if that gets to $500k.
Solar Debt
We also had $110k interest in last week’s solar debt deal. Details ICYMI:
Solar Infrastructure Debt
We can’t share much about this one yet because it’s not been cleared by the lawyers, but here’s the gist.
It’s a utility-scale solar and energy storage project in Florida looking for funding. Although they’ve previously done equity placements, this will be either preferred shares or straight debt.
The timeframe is one to two years, and the IRR will be between 14% and 16%.
The project is already approved, so it’ll go ahead regardless of this year’s elections.
We need $500k to qualify for special terms on this one. I’ll spin up a full deal memo if we can get to $150k worth of interest.
I’m interested in this opportunity.
There’s a lot more to come, including a tequila ladder agreement, agave farmland, an art opportunity fund, a blue chip wine opportunity, and some opportunities in the music space.
Investor Field Trips
Nashville – October 2024
Several spots have already been reserved, so make sure to grab a spot if you want to level up your music-investing game (and listen to music, drink bourbon, and eat BBQ).
RSVP early and often.
Jalisco, Mexico – February(ish) 2025
After the resounding success of this year’s trip to Jalisco, Mexico, Altea is planning another this winter.
And we’ve already had a half-dozen people RSVP.
We’re getting to know the area pretty well, and we’d love to introduce a new flock of Alteans to the region and (hopefully) see a few familiar faces from this year’s trip.
It’s early days, but please register your interest if you want to be kept in the loop.
That’s it for this week. Please let me know if you have any questions, comments, or suggestions.
Cheers,
Wyatt, Stefan, and John
