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Welcome to the best of the Altea Community.
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Table of Contents
👋 New Members
Welcome to the 26 new members since last week 👋
A few notable members..
🇪🇸 🇵🇾 Miguel Basomba is the founder of Frutas del Paraguay — the persimmon export operation Stefan visited earlier this month. Originally from Spain, he splits his time between his home in Valencia and the farm in Paraguay.
🌴 Eric Sarabia is an LA-based investor, entrepreneur, and lawyer who started an advisory firm that helps companies with fundraising, strategy, and ops. He also launched a lending company focused on asset-backed freight truck equipment loans.
🇩🇪 Malte Häusler is building the European infrastructure to make collectibles — watches, whisky, art, cars and many more — investable like stocks, through Timeless Investments, and bonds through a depot-eligible bond product.
🥂 Altea SPV Updates
🍊 Farmland I — Deal Memo coming this week
Altea’s first farmland SPV is a direct investment in plots of land in Frutas del Paraguay.
Interest is high, and we met with founder Miguel Basomba in Javea, Spain last week to work out the final details.
The official deal memo will be published later this week.
High-level summary:
- This is a seven year old,139-hectare persimmon farm operation in Misiones, Paraguay
- The first and only Paraguayan company to ship fresh fruit to Europe (2023); first to earn GLOBAL G.A.P. certification
- ~50,000 trees now in the ground, with infrastructure, certifications, and export routes already established
- Counter-seasonal harvest (Feb–May) ships to Europe exactly when Spain has gone quiet
- Persimmons aren’t traded on any commodity exchange, which keeps pricing power with the grower instead of a spot market
- Land sits atop the Guaraní Aquifer, the second-largest freshwater reserve on Earth
The opportunity:
- Available to accredited investors only
- Projected mid-teens IRR over the life of the project, built on conservative assumptions
Express interest to see the prospectus.
🇪🇸 Real Estate II — Final call for commits this week
Last week, Stefan spent some time wakling around Valencia’s La Malvarrosa neighborhood — site of one of the two builds which are part of Real Estate II.
Spain is the fastest growing country in Western Europe, Valencia RE prices are up 17% YoY, and this neighborhood is a classic supply-constrained beachside suburb.
Stefan noticed how close the site is to the university. Students should love the new housing.
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It’ll be interesting to see how different this neighborhood will be in 10-15 years. It’s steps from the sea and historically so underdeveloped. Will be full of hipsters very soon.
Final call for commits
Real Estate II is the first SPV under our new rules. All accredited Altea members can invest in this SPV. Non-accredited investors can go direct.
Resources
🥂 Altea Meetups
Here are some pics from our recent meetups in New York, where we held our 3rd Flight Night Tequila Masterclass, and and Barcelona., where we ate some amazing tapas with our friends at Brickken and Dekanta Whisky.
See more photos on our Instagram.
🗽 Next NYC Meetup: July 29
The next NYC meetup will be a super-casual, unstructured, dutch happy hour. Bring friends. Talk deal flow, alt investing, great sushi, politics, whatever you like. Assuming the weather is nice, we’ll enjoy the summer sunset.
- Wed July 29, 5:45pm
- Rosehill Rooftop – 125 East 27th street
Want to join? Reply to City Captains Valerie and Kaylock here, or in the NYC WhatsApp space.
💬 New Discussions
- There are a total of 44 countries with no access to the sea, and two of them are doubly landlocked
“Uzbekistan as the other double-landlocked country deserves special mention – lots of opportunity there and a young, educated population plus very progressive government.”
— Bee
“Yes, Uzbekistan is going through economic liberalization and an aggressive state privatization program, as well as opening up their economy and the stock market for outside investors. They have growing profitable companies trading at small earnings multiples. Financials, materials, industrials, consumer-related companies, etc.
Uzbek National Investment Fund recently had an IPO in London to give outside investors some exposure to the country…Also, all Uzbeks I know are happy and hospitable people.” — Tigran K
- Palantir CEO Alex Karp says ‘something has gone completely wrong’ with how AI is sold
“He argues every serious enterprise should be able to answer four questions: Who owns the data? Where is it stored? Are the prompts secure? Is any of it being retained or used to improve someone else’s product?” — Matt Belcher
“He is the poster boy for who and what we need to be wary of. Technology has oversaturated and underdelivered for years.” — Mark Dziak
- Does anyone really Fox’s half-price World Cup happened without some money changing hands under the table?
“Fox paid the same as last world cup. the hydration break gave extra ad revenue. Everybody is ‘happy’. IMHO with FIFA hands always under the table with fingers wiggling.”
— Hans Marshalleck
📞 New WhatsApp Discussions
If you don’t use the Glimpse chrome extension you wouldn’t know that someone is trying to make room temperature superconductors again.
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We’ve just launched a WhatsApp Space for Altea — a faster, more direct way to connect with the team and with each other, in real time.
This is the casual, real-time layer of the community. Quick chats, GIFs, questions, memes, low-key chats.
Or join via QR code:
That’s it for today!
See you next week, Wyatt & Stefan
