Altea Update: May 25

Hello there,

Welcome to the best of the ​Altea Community​.

Lots going on this week:

• Real Estate II: Deal memo is live. 8% coupon + profit share.
• Three upcoming events: Two in NYC, one in Valencia.
• Fenchurch Legal: Respected litigation finance firm has gone into administration. We have a private space for affected members.
• Japan trip: 5 spots left, early bird ends May 31
• House of Rare Genesis PX: Robb Report just called it the best ultra-premium tequila on the market.

Let’s go 🚀

👋 New Members

Welcome to the 46 new members since last week 👋

A few notable members..

🍎 ​Lewie​ is an Aussie living in New York, the co-founder of ​Flyers Cocktail Company​. They make premium hemp-derived THC cocktails: Italian Spritz, margarita, Ol’ Fashioned, etc.

When he’s not running Flyers, he’s jumping out of planes and holds a world record in the sport. He’s happy to be a resource for anyone doing due diligence on beverage or alcohol investments.

🇮🇹 ​Marco Pettarin​ recently moved in Milan to work in an energy company in their insurance dept. He’s early in his alternative investment journey, and prefers to focus on diversification and simple instruments.

🇧🇷 ​João Otavio Oliverio​ is a LatAm attorney/investor in São Paulo. He runs a boutique firm focused on fintechs, structured credit, M&A and regulatory strategy. He acts almost as a fractional GC for founders, funds and financial platforms.

Outside the legal world, he spends a lot of time looking at alternative assets. He’s currently involved in projects around fintech infrastructure, payroll-linked credit, securitization and consumer finance in LatAm.

🇪🇸 Real Estate II Deal Memo

I’m happy to report that the ​Real Estate II Deal Memo​ is now complete.

This is a €3.3m profit-participating loan funding two Valencia coastal residential projects inside Spain’s regulated security-token framework.

Summary

• A profit-participating loan issued as a regulated security token under Spain’s LMVSI regime. You hold debt that also takes a cut of the profit.
• It funds two developments: Álvaro López 14, a 16-unit block in central Valencia and the structurally strong project at about a 68% unit margin, and Puzol Beach, a larger 22-unit beachfront building up the coast at a thinner 12% margin.
• Pays an 8% per annum coupon, non-compounded, paid mostly at exit, plus a profit share of 25% standard or 35% for Altea-accredited investors.
• 95% modeled capital preservation, first-cycle sponsor.
• Realistic hold of 40 to 48 months.

Next steps

Real Estate II is the first SPV under our ​new rules​. All accredited Altea members can invest in this SPV.

Commitment calls will begin this week. If you’re interested, ​express interest now​.

Resources

• ​Review Deal Memo​
• ​Join Real Estate II Space​
• ​Express Interest​

🥂 New Events

🗽 NYC Flight Nights Round 2: Back to the Beekman! (June 6)

Altea Flight Nights is our event series designed around rare spirits, alternative assets, and great conversation.

The ​first Flight Night​ with Miguel sold out in New York. The ​second​ took us to Laguna Beach, CA, where we enjoyed tacos & tequila while soaking in the sunset.

For our third, we’re going back to where it all started: The luxurious Beekman Hotel, on Saturday June 6.

Event Details

• Event: Altea Flight Nights Rooftop Shelf: A Tequila Tasting with House of Rare
• Date: Saturday, June 6
• Time: 5:00pm – 8:00pm
• Location:Provided to confirmed attendees
• Capacity: ~10–12
• Hosts: Altea City Captain ​Valerie​, in partnership with ​Miguel Ortiz​ and ​Andrew Rozas​ from House of Rare
• Cost: Free for Altea Paid members | $99 for everyone else

This one’s for everyone who missed out the first time (and those who just can’t get enough tequila!)

🗽 Pink Diamonds and the Timeless Turtle (June 3)

During Altea’s New York tour last year, ​Viral Kothari​ gave Altea members a ​behind-the-scenes look​ at the Timeless Turtle; a high jewelry artefact built to showcase the timeless durability, rarity, and cultural significance of natural diamonds.

He’s excited to share that the turtle will officially be unveiled in New York on June 3rd, and ​you’re invited to attend​.

The first showcase will feature seven natural pink diamonds, each representing a different stage of life and perspective on time.

Drinks and hors d’oeuvres will be served throughout the evening.

He has 8 complimentary spots reserved for Altea members. Access code is ALTEA

🇪🇸 Valencia Lunch Meetup + Site Visit (July 9)

We’re hosting our first-ever meetup in Valencia, Spain on Thursday, July 9th.

Join me and as we spend an afternoon with , visiting the site of ​Alvaro 16​ — the beachside apartment project in La Malvarrosa, Valencia.

We’ll gather at 2:00pm for the site visit. At 4:00pm, we’ll sit down for lunch at ​Casa Montaña​ — a famous Valencia tapas restaurant in the heart of the Cabanyal beach area, just steps from the project.

Details

• Date: Thursday, July 9, 2025
• Arrival: 2:00pm
• Lunch: 4:00pm – 6:00pm
• Location: La Malvarrosa, Valencia, Spain (exact address to confirmed attendees)
• Capacity: ~6–8 guests
• Hosted by: Altea & Guy Kleinboim (Bonum Consilium)
• Cost: Free for Altea Paid members · €50 for guests (covers lunch)

Spots are limited by design. If you’re in Valencia that week (or want a reason to be) request your spot now.

⚠️ New Warning: Fenchurch Legal

Fenchurch Legal Limited, a respected UK-based litigation finance firm, has recently ​gone into administration​.

We have worked with Fenchurch closely in the past, and know that some community members have invested through Fenchurch.

Have you invested through Fenchurch?

If so, we can help.

We’ve created a secret space to discuss the situation privately. Comment below or DM me directly to be added.

This is a complex and still-evolving situation. We are sticking strictly to confirmed facts and documented events.

Learn what happened, what we know, and what to do next.

💬 New Discussions

• Lewie opens up about the ​THC drinks industry​

“The category we’re in is at an interesting moment – Hemp THC beverages are facing a pending federal ban, but also moving toward regulatory clarity that would potentially place them into the alcohol three-tier distribution model.” — ​Craig Lewis​

• Altea Singapore City Captain Nico Monroy recently joined the team at ​SDAX​. If you’re looking at Asia, private markets, or portfolio diversification more broadly, he’d love to ​connect​.
• Our Instagram post on Canada’s sovereign wealth fund kicked off a ​heated debate​.
• Bryan Cooley warns about ​third-party recovery firms​ in the wake of the Fenchurch fiasco

“Be very careful with third-party “recovery” firms. In the UK, there are firms that position themselves as helping investors recover losses from insolvencies or failed investments, but the economics can be highly questionable. Some ask for upfront fees, and in many cases investors are asked to assign or sign over their claim. The pattern is often the same: YouTube videos, SEO-heavy articles, “free consultation” offers, and direct outreach to investor lists. Before engaging anyone, investors should check exactly who they are dealing with, whether they are properly regulated, what fees are payable, whether any claim rights are being assigned, and whether the firm has a genuine ability to improve the outcome beyond what the administrator, trustee, or a qualified insolvency solicitor can already do.” — ​Bryan Cooley​

⛩️ Investor Trip to Japan

5 spots left | Early bird ends in 1 week

Our third Alts investor trip is locked in. Japan. October 18–22, 2026.

Experience Japan like an Insider

Three nights in Tokyo, one night up at Kiyokawa Distillery in the Nagano highlands — where some of our Whisky I casks are aging right now. Shinkansen up, private tour with the master distiller, cask tasting on the property, overnight on-site.

Pricing

• Early Bird (ends May 31): $3,499
• Standard (June 1+ onwards): $3,999
• Final Call (Sept 1+ onwards): $4,499
• Bring a guest at any tier: +$2,999

Everything covered except your flight: 4 nights of hotel, all meals, all drinks, in-country transport including the shinkansen up to Nagano, every activity, every speaker session.

Reserve your spot

This is the highest demand we’ve ever had for an investor trip. Very good chance it completely sells out this week.

​$1,000 deposit holds your spot​. Fully refundable up to 60 days before the trip.

🤝 New Public Deals

🥃 House of Rare Genesis PX

​Robb Report​ just named the ​Genesis PX​ the best ultra-premium tequila on the market. No tip-off, no paid placement. They found it on their own.

Three years in Buffalo Trace bourbon casks. Three months in Pedro Ximénez Sherry casks. 100% pure agave, no additives. Previous HoR releases have sold out in under 48 hours.

1,000 bottles available, each in a crystal decanter. $229.99 + tax. Altea members get free shipping with code SHIP4FREE (auto-applied at checkout.)

This is a sale of actual bottles, not a registered investment. Open to everyone.

Groundfloor is going beyond Real Estate

You may have seen Brian’s recent writeup on ​Groundfloor​.

Two things worth knowing about right now:

First, the Consumer Credit Portfolio is live and closing soon. It’s Groundfloor’s first expansion beyond real estate debt, and the current window is wrapping up.

• 10% fixed annual return
• Auarterly distributions
• Accredited investors only.

Second, the Groundfloor SMB Growth Fund

• The launch product in a new small business finance vertical.
• Designed to give investors access to a corner of private credit that typically stays institutional
• Opening in early June

📚 New Book Recommendation

Stefan has been enjoying ​Venice: A New History​ by Thomas Madden.

So much of what we think of as modern financial innovation is really just rediscovery. Government bonds. The assembly line. Venture capital. All originated in Venice.

If you’re interested in the origins of trade finance, sovereign capital, or just want to understand how a city built on a swamp became the most powerful economic force in the Western world, ​check this one out​.

That’s it for today!

See you next week, Wyatt & Stefan