F Partners Co-Investment Opportunities - 26 February 2025

Author

Chad Fox
February 26, 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: Manhattan Private Credit Market Short Term Note Program

Deal Type: Promissory Note

Asset Class: Private Credit / Litigation Finance

Manhattan Private Credit Market is offering a 100% capital and coupon protected short-term note that is litigation backed.

The 120 Day Short-Term Notes, a private credit investment offering a 20% or 23% yield (depending upon investment size) with capital protection and rolling maturity options.

Key highlights:
- Short-term duration (120 days) with multiple liquidity events
- Asset Class - Litigation Asset-Backed Notes
- Rolling multiple coupons paid directly to your nominated bank
- Multi-currency investment options (USD, GBP, EUR, AED, CAD)
- 100% multi-tier capital protection
- High-yield private credit, largely uncorrelated to the stock market

Only $10m available per series. Capital and Coupon are paid at maturity.

Opportunity: Tilled

Deal Type: Direct

Asset Class: Venture Capital

Tilled is a $4mm ARR embedded payments platform growing 500% YoY backed by Clocktower, G Squared and Canvas Ventures.

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 March 15 and wire / funding by March 31

  • 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: Ratio

Deal Type: Direct

Asset Class: Venture Capital

Ratio is a $2.1mm ARR agentic closing & financing platform for B2B subscriptions.

Opportunity: EarnDLT

Deal Type: Direct

Asset Class: Venture Capital

EarnDLT is a $2.8mm ARR blockchain and AI carbon footprint accounting and regulatory compliance SaaS backed by Blackstone.

Opportunity: Procurated

Deal Type: Direct

Asset Class: Venture Capital

Procurated is a Greycroft & Tribeca VP backed government procurement platform w/ 2x YoY ARR growth.

Opportunity: GridRaster

Deal Type: Direct

Asset Class: Venture Capital

GridRaster is a cashflow positive dual-use AI vision SaaS for industrial manufacturing with $14mm in rev this year.

Opportunity: Odys Aviation

Deal Type: Direct

Asset Class: Venture Capital

Odys Aviation is a VTOL startup with $11B in pre-orders and $231mm in booked revenue from DoD and airlines.

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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