Hello there,
Welcome to the best of the Altea Community.
But first, here are a few photos from Miguel Ortiz’s House of Rare dinner here in Javea, Spain.
We enjoyed rich reposados, sweet añejos, and some mildly bitter political discussions!
I’d never closed down a two-Michelin-star restaurant before, so that was neat.
Let’s go
Table of Contents
New Members
Welcome to the 17 new members this week
A few notable members..
Alicia Yaffe is a former Warner Music Group Global Catalog exec, current founder of a company building immersive experiences around music catalogs.
Her focus is on IP protection and development, experience design, ethical use of new technologies, artist advocacy, and fan engagement for the creative industries.
Matt Marino is a New Yorker who spent years in football/soccer deal advisory — 12 years as a players’ agent, plus advisory work with X10 Capital’s athlete-earnings funds.
He now sources a serious volume of sports deals, mostly well-run “pathway clubs” in Austria, the Balkans, and the Netherlands through his firm, Private Office Ventures
Altea SPV Updates
▶️ Watch the Q&A with Miguel Basomba
Farmland I is our investment with Frutas del Paraguay, the only company exporting fresh fruit from Paraguay.
Founder Miguel Basomba and Stefan just recorded a solid, honest Q&A session.
For those considering investing in Farmland I, this is a good watch/listen.
Summary
- Single distributor risk. We pushed him on this because it’s one thing that gave us pause. They sell their entire crop to one buyer. Miguel’s answer: this is concentration by choice.
- Country risk. There is just no reason Paraguay should scare anyone off. The risk here isn’t the country, it’s execution.
- The yield ramp. Last season they produced 1m kilos against a mature model target of 2.5 million kilos for the whole operation. Miguel walked through why that gap closes over time.
- Downside protection. This is what farmland investing is all about. Prepared, professionally irrigated, electrified land like theirs runs $9,000 to $15,000 per hectare.
Final commits due this week.
We’re looking for final commitments this week.
Express interest to get on the list. If you’re an accredited investor, we’ll send you the full deal memo.
Altea Meetups
NYC Rosehill Recap
Last Wednesday, the NYC crew enjoyed another great meetup.
The venue this time was Rosehill Rooftop, an “elevated experience” with terrific skyline views.
Boston, Sep 14 (Confirmed!)
On Sep 14, join me, Stefan, and Chris Daniels from Launch Film Finance our hosting our first ever Boston meetup.
This will be a casual (and probably chowder-filled) evening discussing alternative assets — with a focus on investing in Hollywood bridge loans
We’re in town for one night only, and we’re making it count.
The focus: Film bridge lending
There are only a handful of folks who know this space inside and out, and Chris Daniels is one of them.
Expect in-depth conversations about how these deals actually get put together, how the downside is protected, and why film gap financing is arguably the most underrated alternative asset class in the world.
Details
- Date: Monday, September 14, 2026.
- Time: Early evening — roughly 6:00pm to 9:00pm.
- Location: Boston, MA — venue being finalized, exact address shared with confirmed attendees.
- Capacity: 8-10. This is a meaningful dinner, not a huge event.
- Price: Free for Altea Paid members. $50 for everyone else. Includes all food and drinks.
- Guests: Feel free to bring someone who’d enjoy the room. Colleagues, friends, and fellow investors are welcome.
RSVP early to hold a spot.
This is an early RSVP so we can size the room properly. The date is locked in. Other details, including the venue, will follow shortly.
If you’re in Boston and are interested in alternative investing, you don’t want to miss this.
Los Angeles, Oct 6 (In planning)
Creative Debt and Equity Financing in the Creator Economy
- When: Tuesday, October 6, 2026, late afternoon into the evening, dinner to follow.
- What: A meetup on alternative creator financing opportunities, including contract advances, revenue-share, credit lines, and (as always) film bridge financing.
- Who: 10–20 guests from the Altea community and the LA / OC creator economy. Speakers forming now.
- Where: A creator economy space, venue and final details to follow.
RSVP coming soon.
Stay tuned for an early save-the-date. Space limited, priority given to Altea members and guests
Other events being planned..
New York, Sep 16
- Planning an event in Brooklyn on Wed, Sep 16
- Stefan and I will both be there
France, this autumn
- Working on our first ever France meetup this fall, in Paris.
- We’re also looking for a member in France to help put this together. (Reply if you’re interested in helping organize)
New Discussions
- Parmigiano reggiano financing: It’s like whisky trade financing but for cheese. (What other “maturation-heavy” categories are sitting out there without their own cheese bank yet?)
- This post by Yuri Rutman kicked off a healthy debate over the risks & structures of film equity investing.
“Stefan and Yuri are both right here, about different layers of the same stack.
Every risk-reducer in this thread is real. Rebates collateralize rebate loans, pre-sales collateralize pre-sale facilities, brand money negotiates its own protections. Equity is what’s left after all of them get paid.
‘Capped downside’ is pricing the stack’s safety features into the one tranche they don’t protect. Zero is routine; Stefan’s right. And Yuri’s naming the real variable: distribution.
Film equity is the residual of an engineered stack. Model the whole stack before buying the bottom of it. — Josh Stein
- For those of you monitoring the situation at Rally from a couple weeks ago, one of the cofounders has set up a newsletter and shared these tidbits.
- Gehzal posted about a big $100 million dollar ponzi scheme. Turns out the guy behind it was Jason Cloth, a producer whose credits include Joker and Longlegs.
“I keep thinking – it would be so much easier to just say, ‘Give us money because you like us and think we’re cool.’ Seems to be working for all these conmen.” — Beata Aldridge
New Asks & Offers
Fanatics collect?
I’m trying to get a card out of the vault at Fanatics Collect so it can go to auction, and I’m having a heck of a time.
It’s being sent to a rival company’s vault, which is why it’s so difficult, I suspect.
- Do you know anyone senior there who can help me out
- Have you had similar issues?
If you can help, let me know.
⚠️ New Warning: RAD Diversified
The SEC has sued RAD Diversified for fraud.
On July 29, 2026, the SEC filed a fraud complaint in the Middle District of Florida against RAD Diversified REIT, Inc. (“RADD”), its co-founder and CEO Brandon “Dutch” Mendenhall, and co-founder and director Amy Vaughn.
The allegation: that between November 2019 and March 2024, RADD raised at least $152 million from at least 5,500 retail investors through an unregistered, fraudulent offering — while misrepresenting its profitability, how its share price was set, and whether investors could ever get their money out.
Have you invested in RAD Diversified, or any RADD-related ventures? If so, we can help.
We are creating a private space for affected investors to share information, compare positions, and coordinate across the bankruptcy and the SEC case. Comment here to be added.
New Memaber Perk
Fundraising support from Fidelman & Company
If you’re raising capital (whether for a fund, SPV, or startup) our friends at Fidelman & Company have an interesting option.
They’ve created what they call Fundex, a self-service system for managing and executing a capital raise.
- Ability to track all activity in the platform, (calls, email outreach, etc)
- 100 investor contact credits per week
- Ongoing support
They’re offering Altea members exclusive pricing.
- Normally: $1,250/month (no trial)
- Exclusive Altea deal: Free trial for 2 months
- Use code: alts2mo
That’s it for today!
See you next week, Wyatt & Stefan
