Hello and welcome to Alts Cafe
Everything you need to stay up to date in alternatives.
Issue highlights:
- International Investing: Trump announces new $5m Golden Visa
- Music & Film: HarbourView Equity Partners acquired the catalog of T-Pain
- Wine & Whiskey: Research found consumers to be especially receptive to smoke-impacted wines.
- Farmland: Agriculture Secretary Rollins called the current farm economy “one of the worst in 50 years.”
- Artwork: The Saunders collection of 56 Old Master paintings heads to Sotheby’s, valued at $80-$120m
- Classic Cars: A 1957 Corvette SS sold for $7.7 million at RM Sotheby’s Miami, setting a new Corvette auction record.
Let’s go
Table of Contents
Macro View
Bullish news
- Apple announced a $500 billion US investment, including an AI server factory in Houston and 20,000 jobs.
- China planned to raise its fiscal deficit to 4% of GDP and triple sovereign bond sales to 3 trillion yuan.
- US GDP grew 2.3% in Q4 2024, while jobless claims dropped to 1.862 million, beating forecasts.
- Trump announces new $5m Golden Visa
Bearish news
- The Nasdaq fell 4% in February, while the S&P 500 and Dow dropped 1.4%.
- The Atlanta Fed tracker showed the first quarter GDP is on track for a 1.5% contraction. Only nine days earlier it was pointing to growth of 2.3%.
International Investing
Bullish news
- Ecuador has world’s highest proportion of female entrepreneurs
- India had 327 IPOs last year — highest in the world
Bearish news
- IMF warns that sluggish growth threatens global economy
💬 Join the Discussion
Trump announces new $5m Golden Visa.
Ever ahead of the ball, we recently explored this topic of Golden Visas: i.e., residency and citizenship programs offered by countries in exchange for substantial investments.
Before this announcement, the US had two programs for “buying your way in” to the United States.
What do you think?
Wine, Whiskey & Spirits
Bullish news
- Research found consumers to be especially receptive to smoke-impacted wines, rating them 6.86 out of 9.
Bearish news
- AB InBev UK took 121 days on average to pay suppliers despite strong Q4 profits.
🍹 Invest in a Tequila Distillery
We’ve completed due diligence on the Herencia de Agaves Tequila Distillery opportunity and are ready to firm up commitments.
Here’s an overview of all our work on this project. This will help you make an informed decision.
Timeline
- February 28 – DDD complete
- March 7 – Hard commits locked in
- March 18 – Paperwork available to review and sign
- March 31 – All paperwork and funds due
Join Altea to invest.
Let’s go to France?
We are considering an Alts trip to France. This will be a wine-themed investing adventure through Burgundy, Champagne, and Provence.
Want to join?
Music and Film
Bullish news
- HarbourView Equity Partners acquired the catalog of T-Pain
- Kobalt launched KOSIGN to help independent artists collect from $1 billion in unclaimed publishing royalties.
Bearish news
- FCC Chairman Brendan Carr revived complaints against CBS, NPR, and PBS.
💬 Join the Discussion
T-Pain sold his catalog. The price paid was not disclosed, but it was surely less than the $350 million the Red Hot Chili Peppers are asking.
What do you think?
Farmland
Bullish news
- Cornell’s Agrivoltaics Research Program found that elevated solar panels improved efficiency by 10°C when placed above soybean fields.
- The European Commission expanded public-private research partnerships and streamlined biopesticide approvals to drive agricultural innovation.
Bearish news
- Farm bankruptcies surged 55% in 2024, with 216 filings nationwide.
- Agriculture Secretary Rollins called the current farm economy “one of the worst in 50 years,” with a $45.5 billion trade deficit.
💬 Join the Discussion
The Food Institute claims the vertical farming market will 4x over the next 5 years. But I don’t see how that’s possible.
Brian researched this market last year and found that funding had essentially dried up in the face of poor unit economics…
What do you think?
Private Equity & Private Credit
Bullish News
- Blackstone raised $5.6 billion for energy transition, 33% more than its previous fund.
Bearish News
- A failed PE deal exposed flaws in industry valuations involving Goldman Sachs, Morgan Stanley, and JPMorgan.
💬 Join the Discussion
Limiting PE ownership of healthcare companies seems reasonable.
What do you think?
Startups
Bullish news
- Revolut reported $1 billion in profit for 2024, nearly doubling its 2023 earnings.
Bearish news
- DoorDash must pay $16.75 million to 60,000 drivers for misusing customer tips.
- Microsoft announced plans to shut down Skype.
Artwork
Bullish news
- The Saunders collection of 56 Old Master paintings heads to Sotheby’s, valued at $80-$120 million, featuring works by de Heem and Meléndez.
- A Jan Davidsz. de Heem floral masterpiece is expected to sell for $8-$12 million, potentially breaking his $7.6 million record.
Bearish news
- Over 10,000 millionaires left the UK in 2024, a 157% rise, as tax changes eliminated non-dom status.
- Romania sued Christie’s to stop the $9 million sale of an El Greco painting, claiming it was stolen by the last king.
Classic Cars
Bullish news
- A 1957 Corvette SS sold for $7.7 million at RM Sotheby’s Miami, setting a new Corvette auction record.
- A 1968 Lamborghini Miura S with 7,800 km and 39-year single ownership by Giulio Vignale heads to auction at $2.5-3 million.
Bearish news
- UK classic car owners face a £2,745 tax hike on 54 polluting models starting April 2025.
- Stellantis canceled a $1.6 billion Maserati investment after 2024 sales fell 60% to 11,000 vehicles.
🔥 Invest in Classic Cars
Join Altea to invest.
Luxury Goods
Bullish news
- TAG Heuer became the first official timekeeper of F1 ACADEMY.
Bearish news
- A paralyzed man’s $17,000 luxury watch collection was stolen from his home.
- An Italian court investigated LVMH’s Dior unit over concerns about labor practices.
Crypto
Bullish news
- President Trump announced plans for a “strategic crypto reserve” featuring Bitcoin, Ether, XRP, Solana’s SOL, and Cardano’s ADA.
- The Texas Senate unanimously approved a state Bitcoin reserve, with New Mexico and Indiana considering similar moves.
- The SEC dismissed its lawsuit against Coinbase.
- BlackRock added its Bitcoin ETF to its $150 billion model portfolio, allocating 1-2% to IBIT.
Bearish news
- Bitcoin was set for its worst weekly drop since the 2022 FTX collapse, falling 16% in one week.
- Mask founder Suji Yan lost $4 million in an offline hack, with stolen assets converted to Ethereum.
Real Estate
Bullish news
- Principal Asset Management closed a $3.64 billion data center fund, set to back $8 billion in assets.
Bearish news
- A San Jose housing project with 708 planned units defaulted on its loan.
- China’s home prices are expected to drop 2.5% in 2025, with recovery pushed to 2026.
💬 Join the Discussion
Private firefighting insurance may seem like a modern, “late stage capitalism” concept, but its roots stretch back thousands of years.
What do you think?
Metals and Gems
Bullish news
- Nova Pacific Metals secured $2.64 million for a 10,000-meter drill program, with samples showing 21.7 g/t gold and 48.12% zinc.
Bearish news
- Gold dropped $24 per ounce to $2,863, marking four consecutive days of decline.
- South African platinum miners are facing their worst crisis in decades as Northam Platinum’s half-year profit fell 49.7%.
- President Trump’s proposed auto tariffs could cut platinum demand by 102,000 ounces and palladium by 364,000 ounces in 2025.
Collectibles
Bullish news
- Adrian Wojnarowski’s ESPN memorabilia, including his phones used for NBA news, hit $2,000 in bids within 24 hours.
Bearish news
- Manhattan DA recovered $2.2 million in stolen Greek and Italian artifacts.
- A father tried to reverse the sale of his son’s Wembanyama jersey after it sold for $73,200 at Goldin Auctions.
Websites and Domains
Bullish News
- Freename launched .CHZ domains with Chiliz, offering exclusive perks and discounts up to $100 for CHZ stakers.
Bearish News
- RBI’s push for ‘.bank.in’ domains failed to curb fraud, with 40% of scams linked to fake KYC notices.
- Fake Burger King franchise websites scammed multiple victims before courts intervened.
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 Commonwealth.
- There are a couple of affiliate links above. If you click them, we may get a couple of bucks.
