Hiya,
Welcome to your shot of all the best from Altea.
Because of our Investor field trip to Nashville, it’s been a minute since our last round-up.
This week:
- Introducing Decentralized Due Diligence
- Nashville has left the building
- New Altea members
- New Opportunities
- In due diligence
- Funding Now
Not a member yet? Apply today to lock in everything below plus:
- No fees on Altea SPVs
- Glamorous investor field trips to exotic locations
- Access to hundreds of intelligent people (and me)
LFG
Table of Contents
Introducing Decentralized Due Diligence
Altea is great for many reasons, but our members are our most valuable asset. Without you, it wouldn’t be much of a community.
With that in mind, we’re introducing a new way of evaluating deals. Here’s how it works.
When a new opportunity comes to our attention, it immediately enters our space here.
If you love or hate the deal, this is where I’d encourage you to sound off. It’s how we’ll know if the opportunity should progress to the next stage – In Due Diligence.
Now this is where things get fun.
Once it’s in due diligence, all Altea members will be encouraged to evaluate the opportunity whether they want to invest or not. We’ll put together a list of what needs looking into, including:
- Market size
- Founder and deal sponsor bio and background
- Legal evaluation
- Sector-specific analysis
- Competitor analysis
That sort of thing.
Those who contribute will earn rewards in the form of discounts on annual dues, reduced carry-on deals, and other such deals.
And for those who want to go the extra mile, I will start arranging on-site diligence trips when there’s demand.
For example, we now have an opportunity under diligence that lets you invest in three iconic Ferraris.
The cars are in Nottingham (yes, that one), north of London. The diligence trip includes:
- London airport transfer if needed
- First-class return rail from London to Nottingham
- Lunch in Nottingham
- Dinner in London (curry in Brick Lane, anyone?)
- Overnight accommodation at the fabulous Landmark Hotel
The total cost will be around $1,500 depending on transfers, if you need a second hotel night, etc.
If you want to join for the trip, please let me know either via the commit link or by hitting reply to this note.
Nashville has left the building
What a week. Fifteen of us spent five days rocking up and down Broadway, where we learned everything there is to know about the music industry.
Check out Stefan’s recap, and enjoy the sizzle.
Next on the agenda, I’m putting together an itinerary for a special double feature in April 2025:
- One week in Mexico City
- Followed by a week in Guadalajara and Tequila
Altea members are invited to join both or either one. Keep an eye out next week for RSVPs.
New Altea members
We’ve got five new members to introduce this week – a new record.
- Travis Mitchell is a barrister (Australian for lawyer) who likes to invest in private credit, PE, wine, litigation finance, and real estate.
- Edward Fye lives in Atlanta (a new favourite of mine) who dips into Real Estate, Angel Investing, Wine & Spirits, Art, Crypto, Precious Metals & Gems.
- Sean Mackay is into crypto, real estate, lending, traditional equities, and entrepreneurship. He’s currently working on his own crypto newsletter.
- Neil Matalia is an expert in Precious Metals, Gems, and Commodities. He went to Boston College and lives in New York.
- Bryan Harvey is a retired neonatalist who collects coins and Mexican silver mines (who doesn’t?). He lives in Arkansas.
Chaps, introduce yourself here and pop into the Asks and Offers space.
New Opportunities
California Carbon Credits
This is an opportunity to generate annual income via carbon credits in a supply-constrained market locked in by California law.
Deal Basics
- Investment Size: $15,000,000 (Founder Class)
- Minimum Investment: TBD
- Potential IRR: 15% – 30%
- Deal Type: Carbon Allowances (Physical Ownership)
- Deal Duration: Evergreen (1-year lock-up, with early redemption fees)
Deal Overview
Access Environmental Capital is offering investors the opportunity to gain direct exposure to California Carbon Allowances (CCAs), the second most liquid compliance carbon market globally. This investment combines strong upside potential, downside protection, portfolio diversification, and positive environmental impact. The fund aims to capitalize on the expected shift from oversupply to undersupply in the CCA market in 2024/2025, potentially yielding 2-3x returns by 2030.
In due diligence
The Car Crowd – Three Ferraris
The Deal Basics
- Investment Size: ~$500k to $550k depending on currency fluctuations
- Investment Minimum: $10k
- Deal Duration: 4 years
- Management fees:
- Altea members: 0%
- Non-members: 10%
- Carry: 10%
Review the deal memo, which includes a thorough interview with the sponsors.
This opportunity involves investing in Ferrari vehicles, including the Ferrari 328 GTS, Ferrari Testarossa, and Ferrari 355 Berlinetta.
The investment makes money in two ways:
- Asset appreciation
- Geographic arbitrage
These are highly coveted models in the collectible car market, recognized for their strong appreciation potential due to limited production, provenance, and iconic status in popular culture. The sales strategy hinges on purchasing in the UK, where high-spec left-hand drive (LHD) Ferraris are undervalued, holding them for four years, during which they are expected to appreciate, and then selling them at US-based auctions for a considerable premium.
Funding Now
Launch Film Bridge Fund
This one is proceeding nicely, with about half of the commits signed or wired. If you want to invest in this one but haven’t yet, you can do that here.
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 Memo: Access
Coming soon…
Horse pin-hooking (what?!)
Wine trade finance (delicious returns)
That’s it for this week. Please let me know if you have any questions, comments, or suggestions.
Cheers,
Wyatt, Stefan, and John
