Sweater
Sweater is a Boulder-based fintech founded in 2019 that operates an SEC-registered interval fund platform enabling non-accredited retail investors to access venture capital and partners to launch branded Public VC Funds via turnkey infrastructure.
- Company typePrivate
- Founded2019
- HeadquartersBoulder, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Sweater does
Sweater is a Boulder, Colorado-based fintech company founded in 2019 that operates a B2B2C platform enabling "Public VC Funds" — SEC-registered interval funds open to both accredited and non-accredited retail investors. The company serves two distinct customer sets: (1) retail investors seeking access to venture capital without accreditation requirements or $500,000+ LP minimums, served directly through the Cashmere Fund (ticker SWTRX) and a mobile/web investor app, and (2) qualified partners including celebrities, influencers, banks, universities, and fintech companies seeking to launch branded VC funds with $50M+ AUM, served through a Partner Manager Portal and whitelabel APIs.
The company's core technology stack is a cloud-based, mobile-first fintech platform that includes an Investor App, a Partner Manager Portal, customizable whitelabel investor portals, and APIs for partner integration. Built-in features cover KYC/AML compliance, payment workflows, NAV calculation and portfolio valuation for interval fund structures, and SEC registration support. Sweater's flagship product, the Cashmere Fund, was declared effective by the SEC in April 2022 and has scaled to over 5,000 investors and 35+ portfolio investments across consumer goods, fintech, health technology, and software; portfolio companies have collectively raised over $500M.
Sweater generates revenue through two primary streams: management fees on Cashmere Fund AUM (a recurring subscription-like model) and platform-as-a-service / managed-services fees for partners launching their own Public VC Funds. Distribution combines a direct self-serve mobile app, influencer and YouTube creator partnerships, and B2B2B distribution through clearing and brokerage platforms such as Apex Clearing (partnership announced January 2025). The company has raised $14.3M total across a $2.3M pre-seed (July 2021) and $12M seed (Feb 2022) co-led by Motivate VC and Akuna Capital, with additional capital in late 2024. Recent strategic moves include a Forma Capital sub-adviser arrangement (Sept 2024), a Champion Venture Partners sports-asset partnership (Oct 2024), and the Apex Clearing distribution partnership (Jan 2025).
Sweater firmographics
Firmographics- Name
- Sweater
- Legal name
- Sweater Inc.
- Website
- https://sweaterventures.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Sweater is a Boulder-based fintech founded in 2019 that operates an SEC-registered interval fund platform enabling non-accredited retail investors to access venture capital and partners to launch branded Public VC Funds via turnkey infrastructure.
- Ownership category
- akta.pro rank
Sweater industry classification
Industry- Product category
- Alternative Investment Platform
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Goal-Based & Micro-Investing Platforms (Round-ups, Fractional) (FSAGAEAG)
Keywords
Where Sweater is headquartered
LocationHeadquarters
- HQ city
- Boulder
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sweater business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Fund Management / Platform-as-a-Service: Sweater operates as a turnkey infrastructure provider for partners to launch Public VC Funds. Revenue is derived from fund management activities, platform fees, and operational support provided to fund managers.
- Cashmere Fund Management: The Cashmere Fund (Ticker: SWTRX), an evergreen interval fund advised by Sweater, generates revenue through management fees charged on assets under management. Forma Capital became the sub-adviser in September 2024, with Sweater continuing to oversee investor relations, compliance, and asset valuation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Cashmere Fund minimum investment: $500 |
| Other | Multi-year contract | Partner Fund Program: partners anticipating $50M+ AUM |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Sweater product offering
Product offeringCore offering
Sweater operates a fintech platform that powers SEC-registered Public VC Funds for retail and accredited investors, anchored by its flagship Cashmere Fund (ticker: SWTRX), an evergreen interval fund with a $500 minimum investment. The platform also provides turnkey Fund-as-a-Service infrastructure that allows qualified partners (celebrities, influencers, banks, fintechs, universities) to launch their own branded Public VC Funds, with Sweater handling SEC registration, KYC/AML compliance, NAV calculation, investor relations, and white-label investor portals/APIs.
Product overview
Sweater operates as a B2B2C fintech platform powering public venture capital funds for the mass retail market. The core offering consists of a platform-as-a-service infrastructure (Public VC Fund Platform) with two primary interfaces: the Investor App for retail investors to access and manage VC investments, and the Partner Manager Portal for fund managers to oversee operations. Sweater's flagship fund product is The Cashmere Fund (SWTRX), an SEC-registered evergreen interval fund open to all investors. The platform also enables qualified partners to launch their own branded Public VC funds through the Partner Program, with Sweater handling fund registration, compliance, valuation, and investor relations while partners manage fundraising and capital deployment.
Differentiator
Problem solved
Functional benefit
Brands
- The Cashmere Fund: An evergreen interval fund that provides long-term capital appreciation through an actively managed portfolio of private, early-stage venture capital investments. The fund is open to all investors regardless of accreditation status with a $500 minimum investment.
- Cashmere Fund
Products and services
- The Cashmere Fund (ticker: SWTRX) SEC-registered evergreen interval fund that provides long-term capital appreciation through an actively managed, diversified portfolio of early-stage venture capital investments. Open to all investors regardless of accreditation status with a $500 minimum investment and semi-annual redemption windows for controlled liquidity.
- Public VC Fund Platform (Fund-as-a-Service) Turnkey fund-as-a-service platform that enables qualified partners (celebrities, influencers, banks, universities, fintech companies, VCs) to raise venture capital funds from both accredited and non-accredited retail investors. Includes fund design, SEC registration, regulatory management, a customized investor portal, Partner Manager Portal, APIs for white-labeling, KYC/AML compliance, NAV calculation, and investor relations at scale.
Quantifiable outcome
- Over 5,000 investors have joined the Cashmere Fund since launch in April 2022.
- +3 more outcomes
Companies that use Sweater
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
Sweater technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature6 records
Sweater partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Apex ClearingcoreApex Clearing provides clearing and custody infrastructure for the Cashmere Fund, enabling the fund's offerings to become available to clients of Apex-supported brokerages. Through this collaboration, the fund's offerings became accessible through a major brokerage platform in early 2025, with additional distribution partnerships planned throughout the year.
- Champion Venture PartnerscoreChampion Venture Partners (CVP), an asset management firm focused on sports ecosystem investments, announced a strategic partnership with Sweater to bring sports alternative investment opportunities to retail investors. CVP plans to use Sweater's technology and compliance infrastructure to launch retail-friendly funds, building on its existing $100M 506(c) sports fund. The partnership aims to create the largest retail-investor friendly sports asset class fund in the country.
- Forma CapitalcoreForma Capital's affiliate, Forma Cashmere LLC, was approved as sub-adviser for the Sweater Cashmere Fund (now renamed The Cashmere Fund, ticker SWTRX). Forma leads fundraising, marketing, and capital deployment while Sweater continues to oversee investor relations, compliance, and asset valuation. Forma was co-founded by sports and entertainment executives and includes Buffalo Bills quarterback Josh Allen as a general partner. The partnership is designed to leverage Forma's networks of influence to grow sports, health, and wellness brands within the portfolio.
- YouTube Creators (Peter Hollens, Andrei Jikh, Nate O'Brian, Jake Tran)minorYouTube creators Peter Hollens (2.6M subscribers), Andrei Jikh (1.9M subscribers), Nate O'Brian (1.2M subscribers), and Jake Tran (924K subscribers) participated as super angels in Sweater's $12M seed round, bringing their audiences and influence to the Sweater community.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Sweater competitors and assessment
Company assessmentDirect peers
- StartEngine: StartEngine runs a major retail-investment platform using Reg A+ and Reg CF to give non-accredited investors access to startups and private companies. It overlaps directly with Sweater's mission of broadening private-market participation to retail audiences.
- Republic: Republic operates a retail-access private investment platform offering exposure to startups, crypto, and alternatives through Reg CF, Reg A+, and other structures. Like Sweater, it targets non-accredited retail investors and provides turnkey infrastructure for issuers and fund managers, making it a directly comparable retail-private-markets platform.
- Alto: Alto (formerly Stampede) is a platform enabling retail investors to invest in alternative assets, including venture and private equity funds, via lower minimums. It directly competes with Sweater in providing retail-friendly access to private market funds.
- Wefunder: Wefunder is one of the largest retail crowdfunding platforms under Regulation Crowdfunding and Reg A+, enabling non-accredited investors to invest in startups and funds. It directly competes with Sweater on democratizing private-market access for everyday investors.
Broad incumbents
- iCapital: iCapital is a large, established fintech platform providing institutional and high-net-worth investors access to alternatives and private markets. It represents a comparable infrastructure play in the alternative-investment access space but at the high-end of the market.
- AngelList: AngelList operates one of the largest venture capital infrastructure platforms, providing fund formation, management, and LP syndication tools. While not directly retail-focused like Sweater, it competes in the underlying technology stack for VC fund operations.
- Fundrise: Fundrise is a well-established real-estate crowdfunding platform with billions in AUM that pioneered low-minimum, retail-access alternative investing via interval funds. It is a relevant comparable for Sweater's interval fund distribution mechanics and retail audience, though focused on real estate.
- Masterworks: Masterworks provides retail investors fractional ownership of blue-chip art via an SEC-registered offering structure. It is comparable to Sweater as a higher-profile retail-alternatives platform using SEC-registered vehicles, though it specializes in art rather than VC.
- Yieldstreet: Yieldstreet is a larger, established platform offering retail investors access to alternative asset classes such as private credit, real estate, and structured products. While it operates in the same retail-alternatives category, its asset-class focus (income-generating alts) differs from Sweater's venture-capital focus.
Others
- Carta: Carta is a leading cap-table management and fund administration platform serving VC firms and startups. It is comparable to Sweater as enabling technology infrastructure for venture capital operations, though focused on the issuer/fund-manager side rather than retail investor access.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Sweater social profiles
Digital presenceSweater compliance and trust
Trust signalCompliance1 record
Sweater financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sweater leadership team
Management profileNumber of profiles
Profiles5 records
Sweater funding detail
Funding detailFunding overview
Funding rounds4 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sweater M&A and investment
M&A and investmentM&A
Investments15 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sweater
What does Sweater do?
Sweater operates a fintech platform that powers SEC-registered Public VC Funds for retail and accredited investors, anchored by its flagship Cashmere Fund (ticker: SWTRX), an evergreen interval fund with a $500 minimum investment. The platform also provides turnkey Fund-as-a-Service infrastructure that allows qualified partners (celebrities, influencers, banks, fintechs, universities) to launch their own branded Public VC Funds, with Sweater handling SEC registration, KYC/AML compliance, NAV calculation, investor relations, and white-label investor portals/APIs.
Is Sweater a public or private company?
Sweater is a private company. It is classified as venture growth investor backed and is currently operating.
When was Sweater founded?
Sweater was founded in 2019. It employs 11 to 50 people.
Where is Sweater based?
Sweater is headquartered in Boulder, United States, in the North America region.
How does Sweater make money?
Two revenue lines are on record. Fund Management / Platform-as-a-Service is the primary driver. The others are cashmere Fund Management.
Who are Sweater's main competitors?
Direct peers on record are StartEngine, Republic, Alto and Wefunder. Broad incumbents are iCapital, AngelList, Fundrise, Masterworks and Yieldstreet. Carta is listed as an others.
Does Sweater have an API?
Yes. Sweater offers APIs that allow partners to launch fund functionality within their own applications. The platform enables partners to integrate Sweater's fund management capabilities, including investor portal features and capital raising functionality, into their own branded experiences.
What industry is Sweater in?
Sweater's product category is Alternative Investment Platform. Its primary akta.pro industry code is FSAGAEAG, Goal-Based & Micro-Investing Platforms (Round-ups, Fractional). Its NAICS code is 523940 and its SIC code is 6282.