Private Equity
WDC Energy, LLC
In Fundare Resources we partnered with legendary oil man, Mike Starzer, and his stellar team including among others Cody Truitt and Daniel Seaver, to purchase for $187mm, the 69k net acre Redtail asset, with 70 tier 1 drilling locations, located in an exclusively rural area of Weld County Colorado. Through our vehicle, WDC Energy, we acquired 85% of the asset, which was producing ~7k boe/d from 319 operated wells, with a mix of about 53% oil, 31% nat gas, and 16% NGL’s. PSA was signed in July of 2021 and closing occurred in Septerber 2021.
“I have known and worked with Beau Woodward for over 20 years. Woodward Diversified Capital’s reputation for integrity, innovation and delivering exceptional returns for their investors complements the core values of our management and employee team. As we enter the current commodity super-cycle with increasing demand for energy, our companies are well positioned with approximately 40% crude oil and 60% natural gas and NGL production, an extensive gathering and midstream processing infrastructure and over $1.5 billion in Tier I development opportunities on 160,000 net acres. We are pleased to partner with WDC in Fundare, Moonrise Midstream and Rangeview Resources, providing reliable energy and creating jobs in the Rocky Mountain region.” - Mike Starzer, Executive Chairman of Fundare Resources Company
WDC Rondo, LLC
Rondo energy is working to solve the significant environmental challenge electric batteries pose to the renewable energy revolution. The Rondo heat battery works off of the old concept of ceramic bricks, re-engineered with new technology to decarbonize industrial heat. Rondo stores and transfers energy with 98% efficiency and at a fraction of the cost of comparables. Through our entity, WDC Rondo, we utilized a SAFE (Simple Agreement for Future Equity) to invest at a 15% discount with a valuation cap of $70mm back in September of 2021.
“Rondo Energy is pioneering new technology to accelerate industrial decarbonization and energy storage. Woodward Diversified Capital's forward thinking has helped connect us with investors whose values and focus align with ours. Working with them has positioned Rondo for growth and we’re excited about the next steps”. - John O’Donnell CEO Rondo Energy, Inc.
Rangeview Resources, LLC | WDC Energy II Green River LLC
Rangeview Resources is our second venture on the production side of hydrocarbons with the Fundare team. This 92k net acre property was purchased for $145mm, has 136 tier 1 drilling locations, and produces ~75% natural gas, 18% NGL’s, and 7% oil from 191 operated and 153 non-operated wells. Through WDC Energy II Green River we were able to acquire 85% of the equity with the remaining 15% ownership taken up by the executive team and board members. PSA was signed in May of 2022 and closing occurred July 1st of 2022.
“The Rangeview Green River assets continue Fundare’s strategy of buying producing properties with low risk and low production decline rate. We are excited about the drilling opportunities in the Green River asset with over 130 Tier I development wells and operating in Wyoming… Investment performance for WDC since the Redtail acquisition in September 2021 has been outstanding with production currently 15% over plan and EBITDA 70% over plan.” - Cody Truitt, CEO Fundare Resources Company / Rangeview Resources, LLC
WDC Energy, LLC
Moonrise Midstream was purchased in the above mentioned Redtail acquisition as a combined entity. We spun it out of Fundare Resources in May of 2022. With over 100 miles of pipelines and a gas facility capable of processing 105mmscfd this critical infrastructure to the region is well positioned to grow over the coming years, and kick out meaningful dividend income to our investment group.
“Moonrise Midstream assets are strategically located in an attractive area of the Northern DJ Basin, with over 100 miles of pipelines in the ground and gas processing facility capable of processing 105 MMscfd, the company will continue to expand work with offset upstream producers and midstream companies, while delivering strong cash flow back to the investors along the way” - Daniel Seaver, VP Midstream and Marketing for Fundare Resources Company
WDC Technology Fund I, LLC
Corent Technology, the total Cloud/SaaS (Software as a Service) Automation platform, was one of the two finalists (along with IBM’s Red Hat) in the 2022 SIIA CODiE Awards, which is “the only peer-reviewed program to showcase business and education technology’s finest products and services.” It has also been listed as one of the 20 companies on General Dynamics “Next generation of next generation” list of tech partners. Corent is currently working with several blue-chip mega-cap tech companies to establish themselves as the platform software for cloud-based management within the SaaS market… similarly to how Microsoft Windows is the platform software for the PC. In September of 2022, we funded WDC Technology Fund I and executed a convertible debt offering with a 10% compounded annual interest rate and the optionality to convert to equity at any time up until the next round of fundraising with a valuation cap of $75mm.
WDC Space X, LLC
Space X is a space transportation and aerospace manufacturer founded by Elon Musk. It designs, manufactures, and launches advanced rockets and spacecraft. It was the first private company to develop, launch and return, a liquid-propellant rocket, the Falcon 9, and currently has a multi-billion dollar contract with NASA. Starlink is a wholly owned subsidiary of Space X. Starlink is a satellite internet constellation, providing high-speed, low-latency, internet access to over 60 countries and 1.5mm subscribers as of Q2 of 2023. Through WDC Space X, we partnered with First Trust in July of 2023 to get access to the Private Equity offering for Space X at a valuation of $150B. “You want to wake up in the morning and think the future is going to be great - and that’s what being a spacefaring civilization is all about. It’s about believing in the future and thinking that the future will be better than the past. And I can’t think of anything more exciting than going out there and being among the stars.” -Elon Musk
WDC Credit Fund, LLC and WDC Qualified Credit Fund, LLC
Here is a brief description of this strategy… Think “Visa” but with a little less risk. This is unsecured consumer credit where we focus on elective healthcare procedures where patients require follow-up visits, such as braces or orthodontics. The follow-up visits are what give us greater comfort that consumers will continue to pay and why we think of it as being a little less risky than regular old Visa. Essentially, most elective healthcare offices are only serving about 20-40% of their market because 60-80% of the population struggle to afford a $5k procedure and doctors can only balance sheet so much on their personal books. We have partnered with a family group who has been lending into this market for almost 10 years, to more than 1 million patients, financing about $1.9B in procedures. Together, we work with the largest regional groups in the country to provide an affordable solution to the 60-80% of the population that could not previously obtain access to several elective healthcare procedures. WDC Credit fund targets an unlevered IRR of 24.5% and the Qualified Credit fund is slightly better.
WDC credit fund will begin to kick out quarterly dividends in Q1 of 2025; and WDC Qualified Credit fund is designed specifically for retirement accounts where taxes are deferred, and will not be paying dividends for the first 3 years so as to maximize the compounding benefit to investors. Existing investors can click on any of the password protected links below to review the strategy and it’s up to date performance.
"We are thrilled to join forces with Beau, Caleb, and the entire WDC team in our mission to improve access to high-quality healthcare for underserved communities. This partnership marks a significant milestone for HFD, enabling us to amplify our impact across the healthcare landscape. By leveraging WDC's expertise and resources, we are confident in our ability to deliver exceptional returns while addressing critical healthcare disparities. Together, we look forward to driving meaningful change and fostering further growth for years to come." – Tyler Johnson, CEO of HFD