Hello
Welcome to the best of the Alts Community. Lots going on again this week, and I think you’ll like what you seeToday I’m coming at you from the airport after conducting final due diligence on Launch JV, our boldest and biggest bet yet. I’ve come away delighted.
As always, do your own research, nothing here is financial advice, and stay safe out there, kids.
Let’s go 🚀
Table of Contents
💼 Live Deals
⚖️ Litigation Finance Secured Notes
We’re looking to put together a new SPV with Fenchurch Legal, a UK-based litigation financier that turns small legal claims into secured private credit.
This is a fixed-income play — not a bet on court outcomes. Fenchurch lends to law firms, not plaintiffs, and uses ATE insurance + layered security to protect investor capital. Win or lose, capital + interest is repaid
We have arranged for special, exclusive terms on these notes for Altea members.
There are four options:
- Income Notes pay interest income each quarter
- 2-year:
11%12% - 3-year:
12%13%
- 2-year:
- Growth Notes have a higher interest rate with interest accumulated and paid in full at maturity.
- 2-year:
12%13% - 3-year:
13%14%
- 2-year:
You can choose which option you’re most interested in.
🎤 K-Pop I
We’ll have legal docs for this one early next week.
Deal Basics
- Minimum: $10k
- Term: 6 years with up to 2× 1-year extensions.
- Altea fees:
- Gateway: 2% annual management fee, 20% carry (on profits above 8%)
- Base: 1% management, 20% carry (on profits above 8%)
- Black: 0% management, 15% carry (on profits above 8%)
- Placement fee: 1% upfront for Gateway; waived for Base & Black
- Exit fee: 1% sale/disposition fee at exit for running the sale
This is open to Altea members only. Make sure to pop into the community for everything you need to decide whether or not you’d like to invest.
🚀 Launch JV
As noted above, I spent three days in Toronto this week conducting final diligence on this deal, and it’s clear to move ahead.
I’m not allowed to share too much publicly, but make sure to get in touch straight away. We’ve got about 16% left before the opportunity is oversubscribed.
What I can say
- A similar model to Film I.
- Both annual income and potential venture-like returns.
- Max allocation is $2.5m. Firm commits so far = $2.1m.
- Minimum investment is $100k.
Docs and wires are due September 30, so let me know right away if you want to get involved.
👋 New Members
Welcome to the 29 new members this week
A few notable members..
🇨🇭 Adriana Crovetto is the founder of Angels House – an operator-led investment syndicate based in Switzerland and investing in startups and growth companies across Europe. She leads the 200 members community and events as well as runs the diligence for all investments.
🇦🇺 Michael Donohue is from Waterhouse, a VC fund focusing on early-stage tech businesses in the wagering industry. They have a unique approach in that we buy options in the businesses before deciding whether to allocate equity, reducing the risk that most VCs take.
🍑 Phillip Jarrell is a partner at Infinity Capital Partners, an alternative investment management firm in Atlanta GA. They have been active in the alternative space since 2002.
🏆 Weekly Leaderboard
We recently introduced the Leaderboard, where each week we reward the community member with the highest points.
This week’s winner is…
Adriana just joined this week and has come out of the gate swinging!
As a reward, Adriana gets a shiny new Alts Mug
How are points earned?
Points are earned through a top-secret combination of posts, comments, and other activity (adding a profile picture, bio, etc).
Click on your profile to see recent activity & points earned:
💬 New Discussions
- Peter Ng asked about 2025 royalty performance on K-Pop I. Ryan O’Connor reported partial data showing payouts on schedule.
- I discuss Film I’s 14th investment
- The idea of dumping debt into crypto is a fascinating concept.
- Brian Flaherty goes down a rabbit hole exploring why stocks tend to produce basically all their gains overnight.
“Plenty of researchers have tried to explain this, but I don’t think there’s been any compelling solutions. The most fascinating explanation is from former DE Shaw quant Bruce Knuteson, who argues that trading firms buying at the open (when liquidity is low) and selling at the close (when liquidity is high) will systematically push up stock prices over time.” – Brian Flaherty
🙏 New Asks & Offers
- New York City Captain Valerie Fristachi is seeking meeting/conference room space in or near Hudson Yards
🥂 New Meetups
🇸🇬 Altea Singapore: F1 Weekend Lunch + Drinks (Oct 4)
In town for F1?
It’s race weekend in Singapore, but before the big race, Stefan is pulling together a laid-back investor lunch in the heart of Orchard. Join us Saturday, Oct 4 for low-key cool investing discussions.
Space in the city is tough to get that weekend, so need to keep this small — no walk-ins.
Big thanks to Singapore City Captain Nico Monroy for the recommendation.
5 SPOTS LEFT
🥢 Altea Hong Kong: Private Cantonese Dinner + Whisky (Oct 8)
After Singapore, we’re heading to Hong Kong for an exclusive night of whisky, Cantonese cuisine, and capital conversations.
This is a sit-down dinner with thoughtfully paired vintage whiskys and a curated Cantonese menu.
Hong Kong City Captain Adrian Fu will be hosting the event, and friend of Altea has arranged the menu directly with the head chef.
Bring your best investment stories, and if you’ve got a bottle to share, even better. We’ll be a small group of ~10 people, and this dinner will likely fill fast.
4 SPOTS LEFT
🤑 Altea Affiliate Program
Earn 30% commission by helping grow our community.
Our new affiliate program rewards you with 30% commission for every person who joins Altea through your referral link.
How it works:
- We give you a unique referral link
- You can share your link anywhere; email, social media, private chats, etc.
- Every time someone joins Altea via your link, you get paid 30% of fees. (Payouts range from $200 – $3,300)
- This is not just for City Captains — anyone can participate.
See you next week,
Wyatt
