New SPVs | Affiliate Program | Valencia Meetup
โอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอโอยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญยญ
Upcoming SPVs. New deals for Q2, and a sneak peek at Q3.
Affiliate Program. It's fully revamped, and it's awesome.
Europeans. An influx of EU members this week!
Valencia, Spain meetup. Planning for the week of July 6
Asks & Offers: Know anyone who's invested in digital events / IRL event companies?
Performance update:
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Let's go ๐
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๐ฅ New SPVs
Here are the deals we're doing in May and June โ plus a sneak peek at what we're cooking up for Q3 and beyond.
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๐ช๐ธ Spain Multifam Real Estate (EOI Open)
Expressions of interest are now open for a multifamily real estate deal in Valencia, Spain (right near where me and my family live!)
Valencia is one of Europe's hottest real estate/rental markets right now.
Bonum Consilium is a Valencia-based real estate development platform whose current project, รlvaro Lรณpez, is a 16-unit residential building in La Malva-rosa, steps from the Mediterranean.
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We're currently exploring an Altea SPV for this deal.
Here's what the rough structure looks like:
30-36 month timeline
8% fixed annual coupon + 25% profit share on net proceeds
Projecting a ~10.1% XIRR
Sponsor equity subordinated below investor capital
Minimum investment of โฌ7,500 (1 token)
Pre-sale deposits protected under Spanish banking law, held in bank escrow
Accredited investors can participate through our Altea SPV.
And interestingly, non-accredited investors can also access this deal through Brickken, a trusted European tokenization platform.
For the past year, Altea member Dr. Tigran Kalaydzhyan has recommended we look at this persimmon farm in Paraguay.
(Yes, persimmons, those things that look like oranges which youโve barely heard of)
We've been learning a lot about this deal, about persimmons in general, and about Paraguay more broadly. It's genuinely compelling!
Farmland I will be our first farmland SPV. More to come in June.
Q3 and Beyondโฆ
โ๏ธ Metals I: Rare Earths SPV (Date TBD)
This one is still likely to happen, though proving more complex than we anticipated. But it remains a top priority for us and our rare earth partners in Germany.
It'll be worth the wait. No firm date yet, but we're working hard on it.
Our fourth tequila fund will likely be a tequila ladder, with similar mechanics to . Think staggered exits across a ladder of positions, but with tequila.
They focus on non-traditional real assets like regenerative agriculture & timber, power & water infrastructure, experiential hospitality & camping, ports & maritime trade, and innovative senior living.
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๐๏ธ Lorena Morales is an AI builder from San Francisco looking for interesting companies to invest in. She's building some cool stuff for Latin American markets: 5two9.me and credos.tech.
Fun fact: Lorena was the very first person referred to Altea under our new Affiliate Program!
๐ซ๐ท Christophe is the Head of Investments at NVST - a French investment club with a strong focus on alternative investments.
He's here to keep learning about this fascinating asset class and to source deal opportunities for his community.
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๐จ๐ญ Luca Ceccarelli independently scouts and analyzes promising Swissstartups across real estate, healthcare, robotics and fintech.
๐ช๐ธ Joakim Bjuvegรฅrd is based in Marbella, Spain, where for the past 8 years has been helping people find a property โ whether it's for holiday use or as a primary home.
"The hardest risk to underwrite? GREAT question. Operator tenacity. What happens when the shit hits the fan or if the operator loses control, or some long-tail event happens?
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By far the most underrated thing is to invest in operators that have actually had a loss and gone through the shit. Not just those who are always winning. Bc they havenโt been tested yet. And what happens when stuff gets really hard? Thatโs the character of people I invest in now." โ โ- Morgan
"I saw this about House of Rare and thought to share. Sometimes itโs hard to tell how โrealโ parts of the this investing space are vs. just an echo chamber, so itโs really cool seeing this kind of external validation. Congrats! (This is coming from a non-investor)" โ โ- Jack
"This is interesting. Iโve made some of the best buys in the fall and winter (the worst time?) when inventory is lower. Less volume for sure, but if sellers are sitting they are more desperate to let go, usually at a better price for us."
Birgit answers: What does gold actually look like after decades underwater?
"Gold is one of the noblest metals, which means it is highly unreactive.
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Unlike iron it does not rust or corrode in seawater. That is why gold can remain preserved for centuries beneath the surface on the oceanโs seabed." โ โ- Birgit
Join the Maritime I space to learn more about investing in maritime expeditions to retrieve gold, silver, and precious metals deep in the ocean.
๐ฅ New Meetup: Valencia, Spain
Early heads up: Weโre planning our first-ever Valencia, Spain meetup the week of July 6.
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As you've seen, weโre creating an SPV to invest in a 16-unit apartment complex in the beachside area of La-Malva Rosa.
Weโre working with the developer on a cornerstone ceremony โ a chance to see the project in person and celebrate with the team.
The meetup will include lunch or dinner, and possibly even an optional add-on trip to Altea, the charming, picturesque town which inspired our community name!
The RSVP page will be ready once weโve finalized the details. But I wanted to spread the good news early. ๐ค
๐ค New Affiliate Program
Good news: Weโve revamped our affiliate program!
Our new program rewards you with excellent commissions for each new member who joins through your referral link.
How it works
Payouts
Community referrals. We pay $5.00 for each referral who joins Altea Free.
Upgrades. We pay 30% of revenue when a referral upgrades to โAltea Paidโ. (If they buy an annual plan, you'll get 30% x $700, or $210.)
Investments. We fund a 10% Co-Investment in your name when a referral invests in an Altea SPV. (10% of carried interest from capital you refer)
Most communities ask for referrals. Very few let people build equity-like upside by introducing capital!
Lifetime Attribution
Once someone joins through you, theyโre tagged to your account permanently. If they upgrade or invest months later, you still receive credit.
With our new affiliate program you can earn a lot! But the best part of all this is that referrals last forever.
Experience investing in newsletters or creator events companies?
โArielle Nissenblatt is a podcast industry person who just launched an events company to help creators navigate a post-platform distribution landscape.
She's wondering if anyone has made investments in digital events / IRL networking event companies.
She'd love to run her pitch deck by you if so for a gut check.
A gift from Manish at Mezzi
Back in November, we wrote about the changing world of RIAs and financial advice through AI.
โMezzi, founded by Manish Jain, is now an SEC-registered RIA. They consolidate your brokerage and investment accounts into one dashboard, then analyze your portfolio to uncover concentration risks, wash-sale mistakes, tax-saving and fee-reduction opportunities.
Manish is offering a free year of Plus to Alts subscribers (normally $499).
Go to mezzi.com and use code ALTSFIRE to claim your free year.
This oneโs on the house. ๐
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That's it for today!
See you next week, Wyatt & Stefan
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