Sweater — The Venture Fund for Everyone — Launches to the Public Today

BOULDER, Colo., June 15, 2022 (Newswire.com) - Sweater, the fintech company seeking to revolutionize the venture ecosystem by opening the venture capital (VC) asset class to everyone, has launched to the public today. Co-founded by CEO Jesse Randall, CIO Chad Lewkowski, and CXO Matthew Klein, the first-of-its-kind mobile fintech platform provides everyone, regardless of investor accreditation status, access to a fully-managed VC fund with a widely accessible minimum upfront investment.

Sweater's mission is to accelerate generational wealth creation for all people through venture investing with the Sweater app. The app is easy to use and incorporates a sleek content feed serving up investment updates, founder stories, and other educational venture content to engage Members and bring them closer to the founders they're invested in.

Earlier this year, Sweater's Cashmere Fund was officially declared effective by the SEC as the first fund to allow accredited and non-accredited investors to participate in venture capital. "In a short time, we've gained more than 60,000 waitlist sign-ups to download the app, surpassed millions in AUM, and filled the app with founder stories and details on diversifying long-term investment strategies. Venture capital shapes the future for all people, and we made history by democratizing VC when the Cashmere Fund was declared effective by the SEC. We welcome everyone to our community of investors and founders."

SWEATER'S CASHMERE FUND: VENTURE CAPITAL WILL NEVER BE THE SAME

"The accreditation requirement was wildly outdated, and we're finally able to level the playing field and open the doors of venture capital to everyone," said Jesse Randall, Sweater CEO. Unlike conventional VC, accredited and non-accredited retail investors can become limited partners in early-stage growth startups by investing in the Cashmere Fund. The fund's thesis focuses on early-stage growth startups that are "consumer-touching," giving it a wide breadth of industries to target (consumer products, marketplace technology, employee software, etc.). With an evergreen fund structure, the Cashmere Fund has no end date, so investors can start with comfortable upfront investments and grow their position in the fund over time with automatic ongoing contributions.

VENTURE 101 IN AN ALL-ACCESS APP

Sweater believes in full transparency and the stewardship of its Members, founders, and portfolio companies. On top of managing all sourcing, investments, and due diligence, it is growing a library of venture content for founders and investors alike. Right in the app, Members can grow their venture knowledge base through the latest venture news, founder stories, and private equity investing terminology and practices.

A TIGHT-KNIT VENTURE CAPITAL COMMUNITY

Sweater believes venture capital shapes the future and that the right to shape that future belongs to everyone. This is the essence of its vision to build a new type of venture community that brings investors, founders, and the companies they're building closer together. The future vision of the Sweater app and community will offer many ways for everyone to have a stake in finding and impacting the next generation of transformational startups — companies that shape the future of people's lives. As Sweater grows, so will its vision of a more extensive and inclusive venture community shaping the future through venture capital.

Sweater closed a $12 million seed round in February and started deploying capital in May. The Sweater team is lining up early-stage companies, growth-stage secondaries, and emerging VC funds for its first investments and expects to invest in 60-80 startups through early next year. 

Read more about the first five investments in the Sweater Cashmere Fund's portfolio, and visit SweaterVentures.com to download the app and join this tight-knit community. 

About Sweater

Sweater is the marketing name for Sweater Industries LLC and its parent company Sweater, Inc. Sweater was founded by Jesse Randall, Chad Lewkowski, and Matthew Klein. Randall had initially set out to start his own venture fund after over a decade working as an entrepreneur and an analyst at an accelerator and VC fund. When he found himself locked out of venture investing by antiquated accreditation requirements, he made it his mission to open venture investing to everyone.

The Sweater mobile application gives investors direct access to one of the world's most exclusive asset classes — Venture Capital. Sweater's mission is to empower everyone to become investors in the next generation of venture-backed startups and engage directly with businesses they believe in. Through educational content and more holistic support for founders, Sweater is weaving a new kind of venture community that brings investors and founders closer together to knit a better future. Learn more at SweaterVentures.com.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Sweater Cashmere Fund before investing. The prospectus contains this and other information about the Fund and can be obtained by calling 1-888-577-7987 or by visiting the Fund's website at www.sweaterventures.com/cashmerefund. Please read the prospectus carefully before investing. All investments involve risks, and there is no assurance that the Fund will achieve its investment objective. This press release is not an offer to sell the Fund's securities and is not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted. Neither the SEC nor any state securities commission has approved or disapproved of the Fund's securities or determined if its prospectus is truthful or complete.

Media Contact
Maria Consuelo Gonima
Big Smile Co for Sweater
maria@bigsmile.co

Source: Sweater