Saudi steps up art washing

Hello and welcome to Alts Cafe

This is everything you need to stay up to date in alternatives.

Highlights from the full issue:

  • Macro: Global unemployment held at a historic low of 5%
  • Real Estate: San Diego mortgage rates climbed above 7%
  • Startups: Egyptian startups secured $329 million in 2024
  • Private Credit: European PE deal value rose 78% in 2024
  • Crypto: Phantom Wallet raised $150 million at a $3B valuation
  • NFTs: Sotheby’s auctioned ​NBA Top Shot NFTs
  • Art: Sotheby’s announced its ​first Saudi sale
  • Vintage Autos: Broad Arrow Auctions hosted a 100-car sale
  • Coins: Archaeologists found a 160-coin Hasmonean hoard
  • Farmland: Welsh farm incomes fell 39% year-on-year
  • Luxury: Rolex prices on the resale market hit a four-year low
  • Wine, Tequila, and Spirits: Neurita Tequila grew 169%
  • Film & Music: Sony acquired Supraphon
  • Precious Metals: Kentucky dropped sales tax on gold & silver
  • Collectibles: A 1949 Marilyn Monroe contract entered auction
  • Websites: Google will launch .channel domains in February

Let’s go.

Wyatt

Macro View

Bullish News

Bearish News

What are the odds?

The improvement of youth unemployment has yet to reach my little brother.

Get $10 to play around with using this link.

What are we doing?

​Altea​ Highlights

It’s been a busy beginning to 2025, with two new deals dropping over at Altea.

But before we begin, let’s celebrate a win. The first loan made via ​Film I​ has been paid back. LPs earned 9% absolute interest on a five-week loan (that’s 149% IRR for those scoring at home).

Wait, you’re not a member yet?!

For a limited time, you can join ​Altea​ – the world’s most enriching community for alternative investors – for only $99.

​Join Altea for only $99​

Because Altea members get so much value from their membership (there are no fees on deals, for one), we usually charge $2,500 upfront for the whole year.

But because I’m still hungover from the holidays, you can join today for only $99.

Deals members can invest in now:

Tomball Industrial Real Estate | 40% IRR

I’ve been keeping an eye on this deal since December, and I didn’t think we’d have the opportunity to get involved. But a funder fell through at the last minute, and how we have the chance to Co-GP it. Big things happen.

It’s short-dated, though, so we need to move quickly if we’re going to take a big slice.

👉 Commit ​​here​​

Deal Basics

  • Minimum Investment: $25,000
  • Projected IRR: 40.1-49.7%
  • Total Investment Size: $2.25M purchase price + improvements
  • Investment Type: Value-Add Industrial Real Estate
  • Investment Duration: 12-18 months
  • Structure: 16% preferred return | 60% LP/40% GP profit split
  • Management Fee: 2% | Nil for Altea members
  • Name of Deal Sponsor: Block & Co. (Adam Block)

👉 View our ​​full deal memo​​

Note – I’ve been more conservative than the GP, forecasting a potential 8x to 8.5x cap rate at exit, which is why the IRR in our memo differs from his literature.

👉 View the ​​data room​​

The data room includes an FAQ compiled based on potential investors’ initial queries. You can view it ​​here​​.

​💬 Join the conversation​

🚀 CryptoONE – Altea’s take on blockchain investing

This is something John B and I put together after a very long dive into the real-world applications of the blockchain. It really does solve everything.

CryptoONE is Altea’s micro venture capital fund targeting early-stage blockchain infrastructure and applications.

The fund leverages unique access to deal flow through the GPs’ networks in the blockchain ecosystem, positioning itself at the intersection of traditional finance and decentralized systems.

Deal Basics

  1. Fund Name: CryptoONE
  2. Focus: Early-stage blockchain infrastructure and applications
  3. Target Size: $1M
  4. Minimum Investment: $10,000, preference given to larger checks
  5. Management Fee: 2% | Nil for Altea members
  6. Carried Interest: 20%
  7. Target Initial Close: Mid-February 2024
  8. Fund Managers: John Belitsky & Wyatt Cavalier

👉 Review the ​​full deal memo​​

​👉 Express Interest​

Check out our three-part series on investing in the blockchain:

  1. ​​It’s time to invest in crypto​​
  2. ​​Where is money being made on the blockchain?​​
  3. ​​Crypto is growing up: Real opportunities in a maturing industry​

Remember, ​​Altea​​ members pay 0% management fees.

💬 Join the conversation

Real Estate

Bullish News

Bearish News

How to invest in real estate right now:

I have a feeling it’s more than just those six.

Startups

Bullish News

Bearish News

  • DoorDash drivers were ​exploited​ in a theft scheme targeting Apple products.
  • Robinhood agreed to pay ​$45 million​ in SEC fines for multiple violations including cybersecurity and recordkeeping failures.
  • Audio platform Pocket FM announced its ​third round of layoffs​ in six months, cutting 75 more employees.

How to invest in startups right now:

Robinhood is back in the hot seat.

Private Equity and Private Credit

Bullish News

Bearish News

How to invest in PE and Private Credit right now:

Ardian is on the up and up.

Crypto

Bullish News

Bearish News

Congrats to crypto.com!

NFTs

Bullish News

Bearish News

How to invest in NFTs right now:

Crypto companies seem to be walking the razor’s edge between jumping ship or doubling down.

Artwork

Bullish News

Bearish News

How to invest in Artwork right now:

I’ll be at TEFAF Maastricht in March. Join me.

Vintage Autos

Bullish News

Bearish News

How to invest in Vintage Autos right now:

Leno has a vehicle for every occasion.

Rare Coins

Bullish News

Bearish News

  • A retired man in Mangaluru ​lost​ Rs 58.26 lac in a coin collection scam.
  • CNG Auction House sold ​ancient Iranian coins​ despite legal action by Iran’s Cultural Heritage Ministry.

How to invest in Rare Coins right now:

Funny, I was looking for my 160-coin Hasmonean​ hoard…

Farmland

Bullish News

Bearish News

How to invest in Farmland right now:

Who is on the market for the K Bar J Ranch?

Luxury Goods

Bullish News

Bearish News

How to invest in Luxury Goods right now:

I wouldn’t say it was the quality and value that was stopping me from shopping luxury.

Wine, Tequila, and other Spirits

Bullish News

Bearish News

How to invest in Wine and Spirits right now:

The Great US Craft Brewery Renaissance is finally winding down.

Music and Film

Bullish News

Bearish News

How to invest in Music and Film right now:

Cineworlds are dropping left and right.

Metals and Gems

Bullish News

Bearish News

How to invest in Metals and Gems right now:

Zero-carbon battery metals facility sounds like an oxymoron.

Collectibles

Bullish News

Bearish News

How to invest in Collectibles right now:

If I buy a new comic now, how long do I have to wait until it’s worth $1.02 million

Websites and Domains

Bullish News

Bearish News

How to invest in Websites and Domains right now:

Anybody got $12K burning a hole in their pocket to drop on a .channel?

That’s all for this week

Cheers,

Wyatt

Disclosures

  • We hold BTC and ETH in our ​ALTS 1 Fund​.
  • This issue was brought to you by our friends at ​CapitalPad​.
  • There are a couple of affiliate links above. If you click them, we may get a couple of bucks.

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Author

Picture of Wyatt Cavalier

Wyatt Cavalier

With a background in finance & intelligence analysis, Wyatt has an unhealthy obsession with finding the best blue chip investment opportunities. His previous newsletter, Fractional, resonated deeply with subscribers, bringing actionable insights and unconventional trading strategies. His rare book collection specializes in banned editions. He currently lives in Spain with his beautiful wife, three young boys, and dog Monty.

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