Steady returns, uncorrelated with the markets.
Breakwater invests in e-commerce, a still under-exploited asset class: profitable stores targeting an annual dividend above 15%.
Three reasons to believe.
E-commerce is one of the last under-exploited asset classes. Its revenue follows everyday consumption, not stock prices. Breakwater turns it into a steady return, paid out every year, with a dose of upside.
A store's revenue depends on its customers, not on financial markets. The fund holds no listed shares and no bonds: its income follows everyday consumption.
Learn more →Few structured buyers, many sellers: stores change hands at 2 to 2.5× EBITDA, versus 8 to 12× in private equity. The return is in the entry price.
Learn more →⅔ of the fund in already profitable stores for the recurring dividend; ⅓ in niche asset creation, where a few successes are enough to create the upside.
Learn more →
The storm doesn't reach us.
When financial markets turn rough, a store's customers keep buying their everyday products. The fund's income follows consumption, not stock prices.
Learn more →A steady core, a dose of upside.
Two thirds of the fund in already profitable stores, acquired directly, off-market and through a partner network, for the recurring dividend; one third in building niche stores, where a few successes are enough to create the upside. Every acquisition is approved by an investment committee, the accounts and valuation are overseen by an audit committee, and shareholders receive half-yearly reporting.
Two pockets, two operators.
From running stores to a structured fund.
Breakwater was born inside the market: over one hundred stores run by TakeMyShop, and investors who wanted access without running them.
Join Breakwater I.
For qualified investors only. Minimum ticket €100k direct, €250k through an SPV.