F Partners Co-Investment Opportunities

Author

Chad Fox
September 18, 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.

SPVs

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: 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: Revolut

Revolut needs no introduction.

We have the opportunity to participate in their current secondary offering with participation from Mubadala (SWF Abu Dhabi).

Revolut is a global all-in-one finance and banking platform with product offerings across payments, FX, credit, wealth, and cryptocurrency.  

Co-Investors: Coatue, Tiger, D1 Capital Partners, Softbank, Ribbit, BOND Capital, DST Global, Index Ventures, Balderton.

SPV Lead: Mangusta Capital

Opportunity: GAIL

GAIL is building the leading AI Agent focused on regulated industries. GAIL speaks multiple languages like a human and is trained to support specialty industries like Financial Services, cutting labor costs and increase automation for customer service, debt collection, and sales calls.

GAIL is building the leading AI Agent focused on regulated industries. GAIL speaks multiple languages like a human and is trained to support specialty industries like Financial Services, cutting labor costs and increase automation for customer service, debt collection, and sales calls.

SPV Lead: Mangusta Capital

Opportunity: CoreWeave - Secondary

CoreWeave is a specialized cloud provider, delivering high-performance GPU computing designed for compute-intensive workloads such as machine learning (ML), artificial intelligence (AI), video rendering, and scientific computations. Their infrastructure is built to provide responsive, scalable, and cost-efficient solutions, leveraging NVIDIA’s cutting-edge A100 and H100 GPUs, among other high-end technologies.

SPV Lead: Australian Gulf Capital

Direct Deals

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: THIA

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: Turnqey

Turnqey is an AI assisted API suite that’s designed to provide crypto asset data, insights and analytics to wealth tech platforms.

Turnqey recently signed and went live with a major integration partnership with MorningStar which makes the Turnqey technology available to 170k+ advisors, 6k+ firms, 200 custodial feeds and 30+ plan providers.

Turnqey is a Fox Ventures portfolio company.

Opportunity: NEO

Since launching ~3.5 years ago, Neo has grown to 1mm+ mass affluent customers and $100M+ in revenue making it the largest and fastest-growing challenger bank in Canada.  Like the other emerging leaders such as Nubank ($66Bn mark. cap), Neo is vertically integrated and multi-product having launched over 8 in-house built core products, including credit cards, bank accounts and debit cards, investments, and mortgages.

Building software for retailers and brands to embed financial experiences for their customers, enterprise clients include Canada's largest consumer brands such as Hudson's Bay, Cathay Pacific, Tim Hortons, as well as over 14,000 other retail partners. This combined with a 10x better product experience has led to over 72% of Neo's customers coming organically through word of mouth and owned channels. 

Neo was founded by the same founders as SkipTheDishes (the #1 food delivery app in Canada with ~70% market share), having built it to over $3.5bn in annual sales. 

Investors Include Valar Ventures, Tribe Capital, Shopify, FJ Labs, and iNovia.

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.

Investors including Capital Midwest, Cultivation Capital, Foothill Ventures, EQUITY, Orix, Rice Park, Stout Street, and TVC Capital.

Opportunity: Apiary - Private Credit - Real Estate Acquisition 

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

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: Seraphim Space Ventures II

Seraphim Space is the world’s leading (over 125 companies in the combined portfolio) investor focused on the space sector’s trillion dollar investment opportunity. 

Seraphim boasts the strongest deal flow seeing over 75% of all SpaceTech deals on the market.

Seraphim’s inaugural venture fund has produced a 2.7x DPI and 42% net IRR. Its successes include Arqit (IPO), Spire Global (IPO), AST (IPO), and ultrasoc (M&A). On the Aug 16th SpaceX launch there were 20 satellites from 7 Seraphim portfolio companies. 

The second SpaceTech VC fund will follow Fund I strategy and focus on addressing key themes including Defense, Climate, Future of R&D and Manufacturing. There are already 10 investments in the portfolio of Fund II and gross MOIC of 1.22x since April 2024.

Strategic LPs who invested in the first close include Michelin, NEC, JSAT, Eutelsat (co-owner of OneWeb).

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.

Africa Wealth Summit

By Africans. For Africans. In Africa.
13 - 14 November 2024
Mauritius

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.

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