Forma Capital, an early-stage venture investor that supports portfolio companies through influential partnerships, announced that its affiliate, Forma Cashmere, has been approved as the sub-adviser for the Sweater Cashmere Fund, which will be known as The Cashmere Fund. Until now, Sweater Industries has solely advised the fund, which invests in early-stage growth companies through an evergreen interval fund structure.
With this new structure, Forma will lead fundraising, marketing, and capital deployment for the Fund, while Sweater will continue to oversee investor relations, compliance, and asset valuation functions. Built to accommodate all investors regardless of accreditation status, the Fund primarily invests in early and growth-stage companies and growth-stage secondaries. This fund has over 5,000 investors and offers exposure to a portfolio of companies considered leaders in their respective industries that have collectively raised over $500 million.
Working as an evergreen interval fund, The Cashmere Fund can accept new capital daily with a minimum investment of just $500 while providing liquidity through semi-annual redemption windows and annual distributions. And 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 MrInfascelli and fellow sports and entertainment executives Bruce Popko and Josh Feine. The goal is to utilize 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. The team collectively brings decades of executive experience to The Cashmere Fund in the sports, entertainment, venture capital, investment banking, and technology industries.
Infascelli, Owen, and Schottenstein will be the Fund’s portfolio managers. And 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.
KEY QUOTES:
“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. 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.”
- Elia Infascelli, Managing Partner of Forma Capital
“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. 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.”
- Jesse Randall, CEO and co-founder of Sweater Ventures
