LOS ANGELES--(BUSINESS WIRE)--Forma Capital, an early stage venture investor that supports its portfolio companies through influential partnerships, today announced that its affiliate, Forma Cashmere, LLC, has been approved as the sub-adviser for the Sweater Cashmere Fund (SWTRX, or “the Fund”), and hereafter will be known as The Cashmere Fund. Until today the Fund has been solely advised by Sweater Industries, LLC (“Sweater”) and invests in early stage growth companies through an evergreen interval fund structure.
Under this new structure, Forma will take the lead on fundraising, marketing, and capital deployment for the Fund, while Sweater will continue to oversee investor relations, compliance and asset valuation functions.
Designed to accommodate all investors regardless of accreditation status, the Fund primarily invests in early and growth stage companies, as well as growth stage secondaries. The Fund currently has over 5,000 investors – and offers investors exposure to a portfolio of companies considered to be leaders in their respective industries, that have collectively raised over $500M.
“We are living in a very exciting time where culture, commerce and influence are collaborating every day, allowing promising brands to scale at an unprecedented pace,” said Elia Infascelli, Managing Partner of Forma Capital. “Until recently, only select groups of wealthy investors had the ability to invest in compelling venture-backed private companies and benefit from their pre-IPO appreciation. Through advances in technology and regulation, we can continue to bring these opportunities to all investors, regardless of their status, through The Cashmere Fund. This is a groundbreaking development for the investment management industry, and we are thrilled to be a part of this journey with Cashmere Fund investors.”
As an evergreen interval fund, The Cashmere Fund is able to accept new capital on a daily basis with a minimum investment of just $500, while providing liquidity through semi-annual redemption windows and annual distributions. Retail and institutional investors alike can invest in the Fund in a matter of minutes by visiting its website [or downloading the Sweater app]. The Fund is also in advanced talks to create distribution partnerships with leading fintech apps, neo banks and brokerage platforms.
Forma Capital was co-founded by Mr. Infascelli and fellow sports and entertainment executives Bruce Popko and Josh Feine. The goal is to leverage Forma’s networks of influence to propel growth in emerging sports, health and wellness brands. Joining Infascelli, Popko and Feine as general partners at Forma are Mary Owen, Ari Schottenstein, and Buffalo Bills quarterback Josh Allen. Collectively, the team brings to The Cashmere Fund decades of executive experience in the sports, entertainment, venture capital, investment banking, and technology industries.
Mr. Infascelli, Ms. Owen and Mr. Schottenstein will serve as the Fund’s portfolio managers. Since launching in 2022, the Fund has made over 35 investments in high growth companies in the consumer goods, consumer technology, financial technology, health technology, and software sectors. In addition to making new investments, Forma will leverage its expertise in sales, marketing, and influential partnerships to help grow existing companies in the Fund’s portfolio.
“When we created the Sweater Cashmere Fund, our goal was to use the interval fund structure to make venture capital an accessible asset class for the retail investor, and we have achieved that,” said Jesse Randall, CEO and co-founder of Sweater Ventures. “Our partnership with Forma will accelerate our brand awareness, increase our focus on growing assets under management, and give us access to more compelling investment opportunities that we believe may provide our investors with attractive returns over time.”
About Forma Capital
Forma Capital is a venture capital firm focused on creating brand awareness, finding growth opportunities through sales and marketing partnerships, and deploying capital and influence in consumer brands. Led by Managing General Partner Elia Infascelli, and General Partners Mary Owen Bruce Popko, Josh Allen, Josh Feine and Ari Schottenstein, Forma has built a team that can build influence and replicate brand growth at lower cost, while achieving equal or higher exit multiples. Learn more about Forma Capital at www.formacapital.vc
About The Cashmere Fund
The Cashmere Fund (Ticker: SWTRX), an evergreen interval fund, seeks to provide long-term capital appreciation through an actively managed portfolio of private, early-stage venture capital investments. The Fund’s portfolio managers leverage their networks of influence in the sports and entertainment industries to further compound and accelerate growth in the Fund’s portfolio companies. Learn more about The Cashmere Fund at www.thecashmerefund.com
