F Partners Co-Investment Opportunities - 19 February 2025

Author

Chad Fox
February 19, 2025

F Partners is a Private Investment Office providing bespoke advice to Family Offices, UHNWI, Professional Investors and Entrepreneurs.

For any deals included in this email, reply to this email for an introduction.

All introductions are on a NO FEE basis.

Opportunity: SpaceX

Deal Type: SPV - Secondaries/Continuation Vehicle

Asset Class: Venture Capital  

SPV Lead: Mangusta Capital

Mangusta Capital is investing in a continuation vehicle fund managed by a Tier 1 VC, which holds direct preferred shares on SpaceX’s cap table. This vehicle provides liquidity to the VC’s early-stage funds, which were among the earliest investors in SpaceX, while allowing select investors and LPs to maintain their ownership in the company.

  • Valuation: $350B, equal to $185 PPS (in line or lower price than upcoming tender offer)

  • Fee structure: 2% management fee (5 years) and 20% carry.

  • Minimum check size: $100K, but we will be prioritizing LPs and larger checks ($500K or higher) given the limited allocation we have.

  • Timing: Firm commitments due by February 21st and wire / funding by February 28th  

  • Info: Attached is a Morgan Stanley SpaceX research report that is highly detailed. We will be receiving annual reporting available from the company given the close relationship the Tier 1 VC has with the company.

Opportunity: F Partners

Deal Type: Direct / Holding Company

Asset Class: Private Equity / Roll Up Strategy

F Partners is sponsoring a roll up strategy in the North American waste removal space.

We have found a unique and highly scaleable opportunity to dominate a growing industry that is currently highly fragmented with a lot of operators focused on ancillary services and the rest sole proprietors looking to retire.

We will launch this opportunity initially in Florida with the opportunity to scale quickly to other growth markets in the United States.

Opportunity: F Partners

Deal Type: Participation Note

Asset Class: Multi Asset

F Partners has several opportunities which are either too quick moving or too confidential to share with a larger audience through the newsletter.

F Partners is offering its network the opportunity to participate through a Participation Note on the following terms:

  • Preferred Return of 15% per annum

  • Return Payment Quarterly

  • Minimum 12 months commitment with a 3 month notice for redemption

The funds will be used to invest in the following opportunities:

  • Litigation Finance

  • Commodity Trades

  • Alternative Finance

  • Asset Backed Private Credit

Respond to this email to participate with F Partners or book a call here: https://calendly.com/Chadfox

Opportunity: ASPER’s Dubai Canal Real Estate Development

Deal Type: SPV

Asset Class: Real Estate

ASPER, a UAE-based real estate development company, offers Investor a unique opportunity to establish a partnership and formalize a Joint Development Agreement, focusing on the acquisition and development of one of seventeen (17) prime residential plots in the most sought-after Jumeirah District at Dubai Canal. The project is envisioned as a top-tier development, introducing a one-of-a-kind waterfront mansion with a private yacht berth, designed to become a trophy asset for UHNWI.

Opportunity: Traderails

Deal Type: Direct

Asset Class: Venture Capital

Traderails is a $4mm ARR financial infrastructure AI for supply-chain automation backed by Fin Capital.

Opportunity: Lionsoul Global

Deal Type: Direct

Asset Class: Venture Capital

Lionsoul Global is a Institutional-grade digital asset wealth management FinTech with $40mm AUM.

Opportunity: Mogul Club

Deal Type: Direct

Asset Class: Venture Capital

Mogul Club is a Draper-backed fractional real estate investment platform started by GS alums growing 4X YoY.

Opportunity: Covu

Deal Type: Direct

Asset Class: Venture Capital

Covu is a disruptive AI-native InsurTech platform with $6mm ARR.

Opportunity: Project Flame

Deal Type: Direct / Hold Co

Asset Class: Private Equity - Buy and Build

Project Flame is a North American Industrial Near-Shoring play led by Ignia and Nexxus.

Network Partners

Ligo Partners is a single family office run by Alec Andronikov (Principal) and Cindy Mihalova (Chief Investment Officer) based in Miami. 

Ligo Partners co-invest with a discrete and invitation-only consortium of like-minded investors into disruptive tech-focused deal flow sourced directly from family offices and top venture capital firms worldwide. 

In parallel, Ligo Partners invests in tech debt financings; tech secondaries; roll-up strategies with a tech component; off-market real estate opportunities and investment funds that have successfully demonstrated at least a 1x DPI metric from prior performance. 

Ligo Partners Live Co-Invest Deals: https://docsend.com/view/9azt98yrvu3zmtay

For any deals included in this email, reply to this email for an introduction.

Advisory hours 🗓

Chad Fox is an advisor to entrepreneurs and family offices through his firm F Partners.

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