F Partners Co-Investment Opportunities - 6 November 2024

Author

Chad Fox
November 06, 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: Thrive Financial

Deal Type: Direct or SPV

Thrive Financial Inc. is a financial technology company focused on helping provide affordable Home Improvement financing to underserved US Consumers. Their direct lending assets will provide attractive, stable returns in a volatile macroeconomic environment and are less correlated with the broader equity market.

Key Highlights:

· Average Borrower FICO of 710, with home improvement loans yielding annualized net returns ranging from 8% - 17%

·  Home Improvement has outperformed other asset classes, and is getting more challenging to source given recent consolidation of top Home Improvement lenders

·  Loans may be secured by a UCC lien on the financed home improvement product reinforcing Investor's claim in the event of default

·  Investors are given the option to add an insurance wrapper to the direct lending assets providing up to 4.5x downside loss coverage, and locking in 8-12% returns

·  Management team has helped create over $10B worth of fintech value over the last 10 years

Deal Terms:

Thrive is offering Private Credit Investors the opportunity to purchase Home Improvement Direct Lending assets with the following terms:

· Purchase Commitment: $1M - $25M per month over the Term; with a minimum total commitment of $12M

·  Term: 12 - 24 months

·  Asset Mix: purchaser will have the ability to customize the distribution mix and product mix of the Home Improvement Direct Lending assets to meet desired return

·  Downside Protection: purchaser will have the option to choose from various forms of downside protection to mitigate credit risk

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: Gladiator Partners - Medical Office Portfolio

Deal Type: SPV

Gladiator Partners and RG Real Estate are pleased to offer the opportunity to invest in a portfolio of three medical office buildings located in the Atlanta MSA.

The portfolio totals ~88k SF and is currently 51% leased. An additional ~13.8k square feet (16% of net rentable area) is in advanced stages of the leasing process with leases, LOI’s or proposals currently under negotiation.

Sponsorship plans to fill the remaining vacancy and opportunistically pursue capital events, with the expectation that the properties will be included in the sale of RGRE’s larger medical office portfolio.

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: 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: 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: Mangusta Capital

Deal Type: Fund

Opportunity:Mangusta Capital Fund 1

Mangusta Capital is a venture capital firm investing in the next era of artificial intelligence and consumer disruption, with a mission to support businesses impacting humanity in a positive way. We are anchored by the Del Vecchio (Luxottica) family office and invest in early stage AI startups revolutionizing industry verticals from industrials to consumer and beyond.

Managing Partner, Co-Founder Kevin Jiang is a Harvard graduate and Silicon Valley native with decades of investing experience across Goldman Sachs to Apollo Private Equity, and a key founding member of Softbank's Vision Fund. With a strong institutional track record across growth investments (Wiz, Shipbob, Flexport) and early stage (Edgevana, Eight Sleep) our team has delivered outlier outcomes (10x+ MOIC) leveraging our unique advantages.

The Mangusta portfolio today includes Elon Musk's xAI, Tony Robbins’ longevity AI business Lifeforce, recent Y Combinator graduate TaxGPT, among others.

Since launching, the fund is tracking at 1.60x MOIC and 133% IRR.

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.

Advisory hours 🗓

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

Was this newsletter sent to you?

Join the F Partners Investor Network with one click below!