Tait Duryea sits down with Graham Napier, Michael Shepherd, and Brian Hibbeln of StealthPoint to discuss StealthPoint Fund II, an early stage venture fund focused on technologies with both defense and commercial uses.

The team shares updates from Fund I and explains how it selects companies, works alongside founders, and decides when to make larger follow-on investments. They also cover Fund II’s planned 16-company portfolio, quarterly capital calls, potential exit paths, and the risks of investing in young companies.

For investors considering an allocation beyond real estate and energy, the conversation offers a closer look at the fund’s strategy, time horizon, and commitment structure.

Michael Shepherd brings more than 20 years of experience financing and selling technology companies. 

Graham Napier has led technology, manufacturing, and restructuring operations, including at Cisco and TradeBeam. 

Brian Hibbeln spent more than 30 years in the Department of Defense and U.S. intelligence community, with experience managing government contracts and advising defense investments.

They discuss:
(00:00) Introducing Stealth Point Fund II
(05:41) Fund I portfolio and company updates
(10:51) How Stealth Point develops its investments
(21:40) Fund II’s defense and commercial focus
(28:18) Minimum commitment and quarterly capital calls
(30:38) Potential tax treatment and holding periods
(35:12) Fund fees and projected returns
(42:52) Private sales versus public exits
(54:15) Key risks and how the team assesses them
(1:00:31) Political changes and the dual-use strategy

Links & Resources:

•  Stealth Point Fund II deal room: https://www.turbinecap.com/stealthpoint2 
•  Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
•  Investor questions, KYC, subscription documents, or accreditation support: [email protected]

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea sits down with Eli Bremer, Nathan Fisk, and Eric Bonick of Mytikas Industries to discuss the company’s progress since its initial investment round. They cover the transformation of its Colorado manufacturing facility, steel-framed housing production, national certification, and new revenue opportunities in workforce housing and commercial construction. The team also explains Mytikas’ financial position, limited debt, growing customer pipeline, upcoming equity round, investor protections, and the risks that remain as the company prepares to scale.

They discuss:

 (00:42) Meet the Mytikas leadership team
 (02:35) How the Mytikas project began
 (05:12) Initial investment and asset value
 (08:23) Factory transformation and certification
 (11:33) High-quality steel housing model
 (13:14) New steel production revenue
 (16:40) Financial position and equity round
 (20:00) Upcoming projects and growth
 (26:25) Remaining investment risks
 (32:53) Investor downside protection

Links & Resources:

• Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
• Investor questions, KYC, subscription documents, or accreditation support: [email protected]

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea and the Turbine Capital team share key portfolio updates and preview several upcoming investment opportunities. The conversation covers Waypoint Energy’s expanding well portfolio, Mytikas Industries’ second funding round, Stealth Point Fund II, Heartwood Senior Living, and a new industrial growth fund. The team also answers investor questions about ownership transfers, delayed energy distributions, self-storage performance, fund timelines, and choosing tax-advantaged investments for retirement accounts. 

They discuss:

 (00:43) Passive Income Pilots conference
 (02:34) 113 West funding deadline
 (03:19) Waypoint Energy portfolio update
 (05:02) Why the Permian stands out
 (08:39) Midas second-round investment
 (10:07) Stealth Point Fund II
 (11:28) Heartwood and industrial opportunities
 (14:07) Transferring investment ownership
 (15:37) Ironhorse distribution progress
 (23:46) Houston Storage performance update 

Links & Resources:

• Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
• Investor questions, KYC, subscription documents, or accreditation support: [email protected]

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea and the Turbine Capital team reconnect with Mytikas Industries 18 months after its initial funding round. Eric and Nathan explain how an abandoned Colorado gypsum plant became an operational steel manufacturing facility with multiple potential revenue streams. They also address scalability, downside protection, projected distributions, wildfire resistance, and possible long-term exit opportunities. 

Eric Bonick is a co-founder and CFO of Mytikas Industries. A former U.S. military Reaper pilot, he later worked in nuclear weapons and space systems acquisitions. He also holds a master’s degree in real estate development and has several years of private real estate investing experience. 

At Mytikas, Eric helps oversee finance, manufacturing operations, product development, and the company’s transition from factory rehabilitation to commercial production. 

They discuss:

 (00:00) Mytikas Industries round-two update
 (04:21) Meet the Midas leadership team
 (08:54) Real estate and water value
 (12:00) Flagship housing product line
 (19:17) Light-gauge steel revenue opportunities
 (24:27) Quarter-billion-dollar project pipeline
 (32:35) Housing built for extreme climates
 (36:27) Leasing, rail, and transloading revenue
 (42:52) Capital stack and new raise
 (57:19) Investment risks and downside protection 

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea connects with Hunter Thompson and Tyler Lyons of Asym Capital to examine One Thirteen West Apartments, Turbine Capital’s first multifamily investment opportunity in a year. 

They discuss acquiring 2023 construction at a substantial discount, improving underperforming operations, leveraging neighboring properties, and using conservative fixed-rate financing. 

The conversation also covers Phoenix’s economic tailwinds, limited new supply, rent-versus-owning economics, projected returns, and why the team believes the current market presents an attractive entry point for multifamily investors.

Hunter Thompson, founder of Asym Capital, and Tyler Lyons, the firm’s Chief Investment Officer, specialize in acquiring multifamily properties in the Phoenix market. 

They discuss:

 (00:00) Why Asym chose Phoenix
 (06:50) Buying at a major discount
 (09:37) Operational upside at 113 West
 (14:40) Improving expenses and management
 (19:33) Conservative fixed-rate financing strategy
 (23:38) Why Phoenix keeps growing
 (27:27) Multifamily supply begins normalizing
 (30:54) Buying near a cyclical low
 (38:41) Investor classes and target returns
 (43:00) Return structure and downside sensitivity 

Links & Resources:

• Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
• One Thirteen West Deal Room: https://www.turbinecap.com/one-thirteen-west 
• Investor questions, KYC, subscription documents, or accreditation support: [email protected]

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea presents Turbine Capital’s 2026 shareholder update, covering firm growth, inflation, interest rates, stock market valuations, and the commercial real estate reset. He explains why current conditions are creating opportunities in multifamily and senior housing before Mark Fleming breaks down Waypoint Energy, oil and gas deal selection, cash flow, and tax benefits. The conversation also covers AI-driven energy demand, portfolio diversification, and passive 1031 exchange options through TIC and DST structures.

Mark Fleming is Chief Investment Officer of Waypoint Energy, Turbine Capital’s in-house oil and gas platform. He brings 35 years of energy industry experience and holds bachelor’s and master’s degrees in petroleum engineering. His career includes roles with Chevron, Hess, and Truist Bank, along with experience in oil and gas lending. During the event, Mark shares how Waypoint evaluates drilling opportunities, manages diversification, and approaches energy investing for passive investors. 

They discuss:

(00:00) 2026 shareholder update begins
(10:33) Investor growth and distributions
(15:01) Inflation and money supply
(20:08) Stock market valuation concerns
(21:58) Commercial real estate reset
(31:30) Debt deficits and interest rates
(39:32) Residential housing rate lock
(44:57) Senior housing opportunity
(53:47) Waypoint Energy investment strategy
(01:07:18) Passive 1031 exchange options

Links & Resources:

• ANNUAL SHAREHOLDER EVENT 2026 Presentation: https://drive.google.com/file/d/1-k696ZZWiPZmlH-UrRgIwXpWZPu1b2ZY/view?usp=sharing
• Oil & Gas Tax Benefits Ebook:  https://turbinecap.com/ebook
• Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
• Investor questions, KYC, subscription documents, or accreditation support: [email protected]

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea is joined by Hunter Thompson and Tyler Lyons of Asym Capital to discuss One Thirteen West, a newly built Phoenix apartment property acquired at a substantial discount. 

They explain how poor management reduced the property’s income, why owning the neighboring complex provides a strategic advantage, and how better screening, rebranding, expense controls, and in-unit laundry could create value. 

Hunter Thompson and Tyler Lyons are the principals of Asym Capital, a Phoenix-focused real estate investment firm specializing in multifamily acquisitions. 

Their market expertise, local relationships, and disciplined underwriting help them identify operationally distressed properties with strong fundamentals. 

They discuss:

(00:00) How the deal was found
(04:01) Buying below its prior valuation
(05:59) How NOI affects property value
(07:43) Comparing the neighboring properties
(09:43) Property management problems explained
(11:56) Real estate is not passive
(14:18) Understanding the multifamily correction
(19:56) Fixed-rate financing reduces risk
(24:36) Phoenix market recovery signals
(29:34) The operational business plan 

Links & Resources:

• Turbine Capital Events Calendar: https://www.turbinecap.com/calendar
• One Thirteen West Deal Room: https://www.turbinecap.com/one-thirteen-west 
• Investor questions, KYC, subscription documents, or accreditation support: [email protected]

Turbine Capital Private Podcast:
Spotify: https://open.spotify.com/show/0IWgXJwFJY1Xiw13SfuCnZ?si=87be61dfe5fb415d
Apple: https://podcasts.apple.com/us/podcast/turbine-capital-private-podcast/id1831346026

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

In the July 2026 Hangar Talk, Tait Duryea and the Turbine Capital team share updates across Iron Horse, Waypoint, the Secured Income Fund, and other active investments. They explain why oil and gas revenue may accrue before distributions arrive, review newly acquired well packages, and discuss current commodity prices and production expectations. 

The team also previews opportunities in multifamily housing, senior living, venture capital, and SDIRA-compatible investments, along with details for the upcoming annual shareholder event in Cañon City. 

They discuss:

(00:00) Annual shareholder event preview
(03:34) Iron Horse distribution update
(04:44) Producing wells and accrued revenue
(06:42) Waypoint oil and gas update
(07:16) Oil prices and deal flow
(10:08) Comstock natural gas wells
(12:47) Production performance and projections
(17:33) Secured Income Fund distribution
(19:23) Multifamily and senior living outlook
(21:43) Stealth Point and upcoming deals

Links & Resources:

Annual Shareholder Event Registration: https://luma.com/jgvanmyx

St. Cloud Hotel Room Block: https://us2.cloudbeds.com/en/reservation/yI8oBi/?currency=usd

Hotel allotment code: b732857

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea sits down with John Yost, Mark Fleming, TJ Johnson, and Noelle Vinson for a June Office Hours discussion on where investors may find opportunity in a volatile market. 

They cover interest rates, inflation pressure, commercial real estate challenges, mobile home parks, senior living, 1031 exchange options, DSTs, and the “lazy man’s 1031” strategy. The conversation also explores Waypoint Energy updates, private credit liquidity, StealthPoint Fund 2, and how pilots can think about risk, volatility, tax benefits, and portfolio diversification.

They discuss:

(00:00) AI in oil and gas
(05:33) Real estate pipeline updates
(06:36) Interest rates and inflation
(10:15) 1031 exchange opportunities
(12:19) DSTs explained simply
(14:23) Lazy man’s 1031
(15:32) Waypoint Energy updates
(22:06) Opportunity Zone outlook
(27:19) Private credit strategy
(30:17) StealthPoint Fund 2

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.

Tait Duryea sits down with Aditya Ravi of Rystad Energy to discuss how tensions around Iran and the Strait of Hormuz could impact oil prices, global supply, airline economics, and energy investors. They cover OPEC production, strategic reserves, demand destruction, recession risk, and what different pricing scenarios could mean for the 2026 oil and gas fund.

Aditya Ravi is an upstream oil and gas analyst at Rystad Energy with more than 15 years of experience in global energy markets. With a background in petroleum engineering and economics, he brings data-driven insight into oil supply, pricing, and geopolitical risk.

They discuss:

(0:00) Aditya Ravi’s energy background
(3:26) Iran and oil futures
(6:24) Global oil demand context
(9:14) Strait of Hormuz risks
(12:39) Well shut-in damage
(16:00) Lower oil price scenarios
(19:02) Drilling response and oversupply
(22:48) Worst-case supply disruption
(25:29) Recession and SPR refilling 

Links & Resources:

• Aditya Ravi’s LinkedIn: https://www.linkedin.com/in/aditya-ravi-39a49737 

If you have any questions, please feel free to email [email protected].

Learn more about Turbine Capital:
Website: https://www.turbinecap.com
Facebook: https://www.facebook.com/turbinecap
Instagram: https://instagram.com/turbinecapital

The information discussed in this episode is for informational and educational purposes only and should not be considered investment, tax, or legal advice. Nothing discussed in this episode constitutes an offer to sell or a solicitation of an offer to buy any securities. Any opinions expressed are those of the participants at the time of recording and are subject to change without notice. Investments discussed may not be suitable for all investors and involve risk, including the potential loss of principal. Past performance is not indicative of future results. Prospective investors should review all applicable offering documents and consult with their own financial, tax, and legal advisors before making any investment decision.