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.
We’re slingshotting out of the summer doldrums and into an action-packed autumn. 🔥
Apply to join Altea membership now.
The trips below are for Altea members only. To reserve your place, apply for a place today.
Table of Contents
New Members
There are several new Alteans to welcome this week:
- Jess Payne – Jess is my favorite neuroscience professor. She’s an expert on how sleep and stress influence human performance, memory, emotion, creativity, and general well-being. Jess has consulted for and given talks to some of the world’s biggest banks and hedge funds.
- Niam Patel – Niam, based in London, specializes in high-end sports cards. If you need a Pele rookie card or a sealed case of the newest release, he can help you out. He also runs the Card Con show in London, which attracts 5,000 enthusiasts annually. The next one is in Spring 2025.
- Jason Fox – Jason is living the home services / PE dream. He built a company from scratch, sold it to a PE shop, then joined them to scale their portfolio.
While you’re making them feel welcome, pop into Asks and Offers, where Robert has kicked off a conversation about the struggles American expats face when trying to wire funds internationally.
And if you’re in Texas next month, members can stop by Miguel’s tequila masterclass.
Investor Field Trips Part I
In addition to the two confirmed trips at the bottom of this note, we’re looking at four additional options for 2025. These trips will be:
- More exhilarating
- More luxurious
- Less money
- More often
Here’s to 2025 🥂
Vietnam
Poised to be a significant player in the 21st Century, Vietnam is strengthening ties with China while simultaneously becoming a more attractive tourism and manufacturing partner with the West.
Can this enigmatic nation prosper in both worlds or will it be torn apart?
Cost: $4k to $7k not including airfare
Scotland
I’d say Scotch walked so tequila could run, but Scotch was too busy lounging comfortably in its Speyside library to notice the upstart Mexican spirit.
Join us for a week in Scotland, where we will explore opportunities to profit from the rarified amber spirit.
Cost: $5k to $8k not including airfare
Bali
Poised to be a global hub for wellness tourism and digital nomads, Bali is enhancing its infrastructure while preserving its cultural heritage.
We’ll spend a week learning how the tiny island nestled within the largest archipelago on earth plans to capitalize on remote work and geographic arbitrage.
Cost: $3k to $6k not including airfare
Luxury Cruise
Forget the floating cities; we’re taking a luxury yacht around two to three port cities ready for explosive growth through 2030 and beyond. We’ll sail by night and meet local investment experts by day, sampling the best each location has to offer.
Location: TBC, but we’re looking at options in the Baltics, Persian Gulf, Southeast Asia, and western Africa.
Cost: $8k to $15k not including airfare
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% (depending on performance and share class)
- 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
We should have documents for your review early next week.
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
Agave Farmland
This is one we’ve been kicking around for a while, and it’s beginning to take shape.
- Investment Size: $500k+
- Minimum Investment: $20,000
- Potential IRR: 10% to 20%
- Deal Type: Agriculture futures contract
- Deal Duration: 5 years
Deal Overview
Rather than buying farmland, planting, and looking after the agave ourselves, we’re negotiating with a local company to buy a predetermined volume of blue agave plants in five to six years.
The company, which enters into these arrangements regularly with distilleries in Mexico, will sell units of roughly 1 million kg of blue agave to be delivered around 2030 at an agreed-upon price.
We’ll then look to sell the product to distilleries at the highest price possible.
Deal Status
We’re diving into the futures contract and insurance agreements now, which includes performing due diligence on the relevant counterparties. We hope to wrap that up within a fortnight.
The opportunity already has around $350k worth of interest from a couple of dozen people, so I’d be surprised if this doesn’t move forward (pending DD and some further analysis). If you’ve already expressed interest, you don’t need to do so again. If not, you can do so below.
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.
Investor Field Trips Part II
Nashville – October 2024
There are only a few spots left, so grab a place to level up your music-investing game (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
