F Partners Co-Investment Opportunities - 23 October 2024

Author

Chad Fox
October 23, 2024

F Partners is a Private Investment Office investing in proprietary deal flow across the Private Markets. Co-invest with Single Family Offices, UHNWI and other Professional Investors. 

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

All introductions are on a NO FEE basis.

Opportunity: Medium Rare Inc.

Medium Rare is leading event company that sits at the intersection of sports and entertainment, and delivers three distinct verticals (Live Events, Talent Management, and Brand Activations), which creates a flywheel effect of complementary business segments that appeal to talent, brands, and consumers alike. In a few short years, the Company has built a reputation as being one of the premier and most creative live entertainment and promotions companies in the market, growing at a ~64% CAGR from 2019 – 2023. This year, the Company expects to do $29.7M of revenue.

Delivering a unique model, the Company produces its events in joint partnership with A list celebrity talent partners (like Snoop Dogg), and designs crafted, bespoke events tailored entirely around the talent’s interests and personality. They further align interests by sharing 50% of an event’s profits with the talent, who in turn, serve as a built-in marketing engine to build event buzz, engage sponsors, and drive significant media attention. Talent also serves as the principal brand advocates, which has been instrumental to the Company’s growth to date.

BVG is seeking approximately $24M of equity to acquire 33% ownership in Medium Rare Inc.

UPDATE - Snoop Dogg signed! Read full update through Company Update Link below.

Deal Type: SPV

SPV Lead: Brand Velocity Group - Retired NFL Star Eli Manning is a Partner at the Firm

Opportunity: The Pave

Deal Type: Rollup / Holding Company - Road Paving

The Pave is raising $30-50 million and has already acquired its platform company in Phoenix, AZ, with plans for 6 more acquisitions.

We bought our first company for 3.8x multiple of EBITDA. 

What sets The Pave apart is our ability to play in a space that’s too large for a first-time buyer, yet too small for middle-market private equity. We’re targeting companies generating between $10-30 million in revenue, with 17-25% net profit margins per job, doing private commercial work. Many of these companies are fragmented, operating with outdated technology, poor sales processes, and minimal customer acquisition strategies. As baby boomer owners retire, often without a clear succession plan, we’ve built a machine to identify and acquire on- and off-market paving companies in the Southwest.

Our focus is singular: The Pave buys paving companies generating between $1-10 million in EBITDA, backed by investor equity. This focus creates trust with brokers and sellers, who want to work with us.

Check size is flexible for F Partners Co-Investors.

Opportunity: Dexory

Deal Type: Direct

Dexory is a real-time data solution for the logistics industry. They developed a digital twin platform powered by autonomous robots that delivers insights on warehouse operations.

They provide full visibility and insights to drive millions in cost savings and uncover new revenue opportunities for supply chain operators. With no manual intervention, downtime or infrastructure changes, DexoryView can be easily deployed and scaled across large warehouse portfolios within days.

They’ve signed over 30 global T1 logistics brands and over 50 warehouses, just one year after launch across Europe, North America, the Middle East, and Asia Pacific. Customers include: - 3PLS like GXO, Maersk, DB Schenker - Manufacturers like GE Appliances, Stellantis, Denso - Retailers like Boots, Vente Unique.

They recently raised a substantial round this summer and launched a new US office with a fantastic local team while still growing at pace in Europe. Now looking for commercial & strategic partners to support international expansion.

Opportunity: THIA

Deal Type: Direct

THIA is the best kept secret in AI enterprise solutions.

THIA builds AI-powered applications for enterprise and counts Riot Games, Boeing, KPMG, Booz Allen and several branches of the US government as clients.

Raising up to $5m in a SAFE round.

Opportunity: Mangusta Capital

Deal Type: Fund

Opportunity:Mangusta Capital Fund 1

Mangusta Capital is a venture capital firm dedicated to investing in artificial intelligence and consumer disruption, with a mission to support and accelerate innovative businesses shaping the future. The firm invests in Seed through Series B companies in consumer and vertical AI businesses. 

Co-Founder and Managing Partner, Kevin Jiang is a Silicon Valley native and tenured investor with wide-ranging experience from Goldman Sachs to Apollo Global Management, and most recently a founding member of the Investment Team at Softbank's Vision Fund.

We have closed a $50M anchor commitment from the Del Vecchio family (Founder of Luxottica) and are finalizing limited allocation for a close in November 2024.

Opportunity: Array

Deal Type: Direct

Array is an embedded consumer products platform that fuels financial progress for many of the world’s leading fintechs, financial institutions, and digital brands with a suite of private-label fintech solutions that can be easily embedded. 

Their suite of products includes credit monitoring, identity and privacy protection, debt management, and subscription management tools. Array has 350+ customers including SoFi, Ally, Dave, Experian, Discover, LendingClub, and dailypay.

The company went from $0 to $70mm of ARR in 4 years and continues to grow at a rapid pace, on track to close 2024 at ~$82mm.

Founded and led by 4x Serial Entrepreneur Martin Toha, the former founder of Voip.com, OrderMachine, and IdentityProtect.

 $5mm is open in a $10mm funding round led by Experian. Array’s other investors include Battery Ventures, General Catalyst, Nyca Partners, Sofi, Citi Ventures and FIN Venture Capital.

Opportunity: Orbit Fab

Deal Type: Direct

Backed by Lockheed Martin, Northrop Grumman, and Munich Re Ventures, Orbit Fab enables satellites and spacecraft to refuel in orbit, extending lifespans, growing ROI, enhancing national security, while enabling new markets like space tourism, manufacturing, and mining. 

Orbit Fab has over $100mm in contracts and agreements from the likes of the US Space Force, NASA, Blue Origin, and Firefly. Their proprietary RAFTI refueling interface has already been sold for use on dozens of satellites, representing more than $140mm in potential future fuel sales. Their early revenue is already strong with $15mm expected this year.

Orbit Fab is well-positioned to dominate a $100B+ market by 2035, tapping into their first-mover advantage and partnerships across the space and defense sectors.

 $1mm is left in a $5mm round. Investors include Lockheed Martin, Northrop Grumman, Munich Re Ventures, Asymmetry Ventures, 8090 Industries, Tribe Capital, and Techstars.

Opportunity: Optifino

Deal Type: Direct

Optifino is a financial service provider that specializes in optimizing permanent life insurance portfolios. The company focuses on enhancing financial planning by maximizing death benefits, reducing premiums, and integrating tax-saving strategies.

Optifino uses an AI-driven approach, providing clients with insights across various insurance carriers and offering ongoing policy management and expert guidance. Their services aim to simplify the complexities of life insurance, helping clients build a legacy while minimizing costs and risks.

Having recently come out of stealth, Optifino is on track to end the year with $3.6M in revenue. Given the efficiency and margins of their model, the company only needs to onboard 1,000 agents to generate $100M+ of free cash flow.

$5M is left in a $12M Series A led by American Family Ventures. Other investors include 8VC, MS&AD, FJ Labs, and HOF Capital.

Opportunity: Solideon

Deal Type: Direct

Peter Thiel-backed software transforming manufacturing with autonomous factories.

Solideon empowers off-the-shelf robotics with proprietary software, enabling flexible manufacturing capable of 3D-printing and assembling complex parts without human intervention.

The company has secured over $50M in LOIs and is already converting it into hard contracts and recognized revenue.

Customers include Lockheed Martin, Northrop Grumman, Sierra Nevada Corp, Naval Sea Systems Command, and Fenix Space with many more in the pipeline.

$2mm is left in a $7mm pre-seed round led by 8090 Industries. Investors include Thiel-backed 1517 Fund, Boost VC, Stellar Ventures, 10X Founders among others.

Opportunity: FutureProof

Deal Type: Direct

FutureProof

Using machine-learning technology to price property-specific climate resilience measures, the company reduces losses and incentivizes property owners to invest in resilience. FutureProof is on a mission to enable financial and physical resilience to climate disasters.

 The firm creates value throughout the insurance value chain. 

Policyholders in resilient structures benefit from better-priced coverage; brokers use FutureProof’s API and unique pricing to win new business in less time; and carriers and reinsurers improve return on capital based on the firm’s risk selection.

Currently scaling very rapidly, they went from 0 to 14 insurer contracts in only 2 months, with revenues increasing substantially over this short period.

Current partnerships include Chubb, National General (an Allstate company), Florida Power and Light (a subsidiary of NextEra and a distribution partner for FutureProof), and several others. 

$500k open in a convertible note, backed by Innovation Endeavors, Blackhorn, MS&AD, Axis, and others.  

Network Partners

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

Resources for investors and founders:

  • Deal Memos

  • Investor Relations

  • Pitch Practice

  • Deck/Deal Room Review

  • Custom Deal Sourcing

Advisory hours 🗓

Chad Fox is an advisor to entrepreneurs and family offices through his firm F Partners. Chad has a global network that spans from North America to the Middle East and can help you with formation, fundraising, business development, and all the challenges that come with building an early-stage company. He is a qualified lawyer, angel investor, and venture capitalist.

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