One live deal for you this week, brought to you by Altea member Dom Wells–and onother one in progress.
Plus! Summer meetups are a go.
As ever, always do your own research, nothing here is financial advice, and stay safe out there, kids.
Table of Contents
💰 Deals
Onfolio Private Credit | 14%-15% IRR
If you’re looking for short-duration, high-yield private credit, this one is for you:
- It’s a private credit note secured against the stable, growing earnings of a cash-flowing asset.
- Interest rates on the notes range from 14% to 15%, depending on Altea membership level, and fees are ultra-low.
- It pays out quarterly, and the full duration is only two years.
- It’s in support of Onfolio, headed up by Dom Wells, an original Altea member.
The loan is secured against Proofread Anywhere, Onfolio’s cash-flowing course-delivery company.
👉 Deal memo
👉 Term sheet
🥃 Maison Lineti | Distressed French Whisky Distillery
Two weeks ago, I told you about a French whisky distillery we were diligencing.
There’s a lot to like about the opportunity:
- Rising industry
- Small base
- Simple business
- I like whisky
The numbers work, and on paper an IRR of 80%+ is possible given how cheaply the company will be sold.
Elaine, from Carnation Capital, and I have been working on this deal nonstop for three weeks, and we’ve come up with two potential ways to make this work:
- 100% share acqusition -> PE turnaround opportunity
- 100% stock acquisition -> buy up all the liquid whisky, age it, then sell it
I’ll keep you posted as this moves forward.
🎉 Altea Summer Meetups
On the heels of our excellent Spring Meetups, we’re organizing three more Altea Meetups in July in Seattle, San Francisco, and Austin
📍 Seattle, July 8
We’re beginning the week in one of my absolute favorite places to spend a summer afternoon: Seattle, Washington.
The tentative venue for the event is mbar — an artful rooftop space with a modern Middle Eastern–meets-Mediterranean menu, drinks & sweeping views.
Joining us will be Danny Weiss from Escape to Hollow Earth — a film trilogy project that brings viewers on a thrilling journey below our planet’s surface. Danny and his team are an interesting bunch — this should be lots of fun.
📍 San Francisco, July 10
After Seattle, we’ve got a very special event planned in The City by the Bay.
We’re going to be hanging out at a mansion on Sea Cliff Ave, eating canapés and drinking fine wine.
(Thanks to Altea member Justin Renfro for the hookup!)
Joining us will be Artem Milinchuk, founder of US farm investment platform FarmTogether.
This one could fill up very quick.
📍 Austin, July 15
The following week we’ll be in Austin, getting our Texas BBQ on with food catered from Roaming Fire Food.
Joining us will be Adam Davidson from Aero Capital Solutions. He’ll be giving us an inside look at the world of aircraft leasing.
Thanks to new Altea City Captain Payton Guenter, we’ve secured an actual airplane hangar to, well, hang out in! 🤟
This will be a really cool experience.
💬 New Discussions
- Markus Pfeiler is weary of the Walnut Fund’s risk-to-reward ratio
- Alairé Jameson wonders if crypto portfolios like M1’s can be merged with traditional 401(k)s or IRAs,
- Stefan shares a story about how Hoka supercharged Deckers how Intuit
- The idea of breaking up Google suddenly feels meaningless
- Travis might bid on David Lynch’s coffee machine
- Should we be meaner to LLMs?
“I don‘t like the risk/reward ratio. Also considering that for five years there is no cash flowing back and that fact combined with the political/society risks during that time. I generally like the agricultural aspect, but not in this risk structure.” – Markus Pfeiler
👋 New Members
- Christine Healey is former PM at Destiny and early employee at Forge. Recently she founded HEALEY PRE-IPO, a concierge broker service helping people invest in individual private tech stocks (an alternative to pre-IPO funds that hold a bunch of different companies).
- Richard Patey is the founder of Letter Operators — an agentic/productized service unplugging business owners from the content creation grind.
🙏 New Asks & Offers
- Adrian Fu is seeking strategic partners to expand an agricultural financing venture in Asia.
- Know anyone who sold a business to Thrasio?
