F Partners Co-Investment Opportunities

Author

Chad Fox
September 11, 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.

CLOSING SOON

Opportunity: F Partners Profit Participation: Gold Mine

I have negotiated a ~30% return (gross of fees) for any co-investor that can move quickly this week.

One of our family office clients has spare capacity in their Gold Mine investment and has granted us a $300k allocation to participate. The mine is already operational and the additional capital will be used to increase capacity. They are able to offer a participation return of ~1.5% per month (18% per annum) to F Partners’ co-investor network. First Come First Serve on the allocation. 

Reply to this email for more information

Opportunity: Eight Sleep - CLOSING THIS WEEK

SPV Lead: Mangusta Capital 

Eight Sleep is building the world’s first intelligent sleep platform, revolutionizing comfort, health tracking, and sleep personalization for the discerning consumer.

Notable company backers include Founders Fund, Khosla Ventures, General Catalyst, SoftBank, Valor Equity Partners, Craft Ventures and YCombinator.

SPVs

Opportunity: FlyHouse

FlyHouse, a private jet management and charter company https://flyhouse.us/; is poised to revolutionize the aviation industry.

Their proprietary reverse-auction model sets a new standard for the jet chartering process and eliminates the middleman, creating better prices for clients and margins for owners. Their innovative platform allows clients to set their own prices and connects them directly to jet owners through an easy-to-use mobile app and web portal.

FlyHouse is on track to more than 4x their revenue to $35MM in 2024 and is expected to continue on this growth trajectory.

Benevolent has successfully negotiated up to a $10MM investment round at an attractive $100MM pre-money valuation.

SPV Lead: Benevolent Capital

Benevolent Capital ensures all investors are entitled to receive a 2x return on their investment prior to a promote.

Opportunity: Le Petit Beret

Le Petit Beret is a Premium French based non-alcoholic brand (https://lepetitberet.com/en/), which is aiming to become a dominant global player in the fast growing non-alcoholic category with a particular focus on premium non-alcoholic wines and spirits.

The company is already selling in over 50 countries around the world.  

As well, all of their offerings are 0.0 in alcohol content using their unique "No-Fermentation" technology to develop the best tasting products with NO alcohol.

The co-founder, Dominique LaPorte, has previously been recognized as The Best Sommelier in France and the other co-founder, Fathi Benni, was awarded “Top 10 Personalities Who Move the World of Wine”.

SPV Lead: Benevolent Capital

Benevolent Capital ensures all investors are entitled to receive a 2x return on their investment prior to a promote.

Opportunity: Scale Ai - Secondary

SPV Lead: Mangusta Capital

Scale is the industry leader in the ML data labeling space ($27B+ Market Opportunity, 20% CAGR) and we have a unique opportunity to purchase secondary from an early employee at the last round valuation ($13.5B).

Scale is the most well-funded and vertically integrated data labeling company in the world, with a state-of-the-art technology platform and blue-chip AI developers and users such as OpenAI, Anthropic, Microsoft, Meta, NVIDIA, Google, Instacart, General Motors, and the US Department of Defense.

Key co-investors include Founders Fund, Accel, Index Ventures, Thrive Capital, NVIDIA and YCombinator.

Direct Deals

Opportunity: Capacity

Capacity has built an Omnichannel Support Automation Platform that uses AI to deflect emails, tickets, and calls. The platform works across web, social, SMS, email, and voice. Capacity integrates natively with 200+ apps and has 14 granted US patents.

6x ARR growth in two years, the company is on track to reach $40mm+ this year, with $31M YTD. Capacity has strong unit economics with a 76%+ gross margin and a sub-6-month payback period.

Customers include Apple, AB InBev, Sony, Fiserve, YMCA, Disney, and 2000+ others. The founder and CEO sold his last business for $960mm.

$20mm left in a $35mm Series D with investors including Capital Midwest, Cultivation Capital, Foothill Ventures, EQUITY, Orix, Rice Park, Stout Street, and TVC Capital.

Opportunity: Apiary - Private Credit - Real Estate Acquisition 

Description: Apiary is a Dutch fruit and vegetable trading company, dedicated to empowering farmers by combining traditional farming practices with modern technologies. 

They work with farmers to build food concepts, greatly enhancing the value of farm produce.

Apiary is purchasing their apple orchard for EUR20m. They are putting up EUR1m to EUR2m in equity and have secured local bank debt of EUR14m at 3-4%. 

They are raising $5m at 12% negotiated up to 15% per annum paid quarterly secured against 25% of the orchard to finance the remainder of the purchase. Option to convert to equity. Minimum ticket is EUR10k or equivalent. 

Opportunity: Alt Lending

Alt Lending is a family office-backed specialty lender that is restructuring distressed student loans.  It is a great fixed-income alternative that fits well in most investment portfolios.  

  • The Student Loan Portfolio is Asset Backed and over-collateralized providing 1.5 to 1 collateralization – for every $1 invested you will have $1.50 in student loans.  

  • The investment (offered in the form of a senior secured note) provides significant protection for investors.  

  • Pays a high rate of return – 15% annualized, paid quarterly for 3 years – with a one-year extension option.  

  • There is a low correlation between rising interest rates and most other fixed-income investments.  

  • Led by a very senior team that has previously managed and securitized over $10 billion in Student Loan Portfolios. 

Funds

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.

Network Partners

Ligo Partners is a single-family office run by Alec Andronikov (Principal) and Cindy Mihalova (Chief Investment Officer), based between Miami and New York.

Ligo Partners co-invest with our 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.

CORNELL UNIVERSITY and MANAGEMENT ACADEMY HEIDELBERG

INTERNATIONAL CERTIFICATE PROGRAM - Leading and Sustaining Family Enterprises

Certificate Program takes place from October 20-23, 2024 at Heidelberg Castle, Germany.

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.

Was this newsletter sent to you?

Join the F Partners Investor Network with one click below!