For LPs · Senior tranche
8% USDC, senior, quarterly.
A senior USDC tranche secured against a portfolio of euro-denominated real-estate loans originated to diaspora borrowers in France. The economics are stated, the documents are public to qualified LPs.
Target yield
8.00%
Net of fund-level fees, paid in USDC
Position
Senior
First-loss absorbed by Nova equity tranche
Distribution
Quarterly
USDC, on-chain, automatic
Duration
3 years
Hard lock 12 months, then quarterly windows
Ticket minimum
USDC 100,000
Qualified investors only
Collateral
First-rank mortgage
Euro-denominated French real estate
Conditions
- Eligibility: qualified investors per AIFMD II definitions (institutional, professional or HNWI opt-in).
- USDC contributions on Ethereum mainnet; off-ramp at fund level via regulated counterparty.
- Quarterly NAV, audited annually by a Big Four firm.
- Investment decisions signed by the independent AIFM; depositary controls all asset movements.
- No leverage at fund level. No re-hypothecation of collateral.
Documents
The provisional memorandum, subscription agreement and depositary agreement are shared on request after a brief eligibility check. The final memorandum will be published here on first close.
This page is informational. It does not constitute an offer to sell or a solicitation to buy any security in any jurisdiction where such offer or solicitation would be unlawful. Subscriptions are made solely on the basis of the fund's constitutive documents.