Cashmere Fund Launches First-Ever NIL VC Partnership with Division I QBs
The Cashmere Fund, an evergreen interval fund targeting early-stage venture capital, has announced the formation of its College Investing Class of 2025, introducing the first-ever Name, Image, and Likeness (NIL) partnership between a venture capital fund and college athletes.
The new cohort features three rising Division I quarterbacks (LaNorris Sellers, University of South Carolina; Kevin Jennings, Southern Methodist University; and Avery Johnson, Kansas State University) who have joined as both investors and partners.
“Part of investing in venture capital is pursuing things that have never been done before. Completing Cashmere’s first-ever NIL deal is consistent with that legacy,” said Elia Infascelli, CEO of Cashmere.
Through this structure, the student-athletes will leverage their personal brands to promote venture investing, support portfolio companies, and engage in investor education across peer, fan, and alumni networks.
This NIL initiative builds on Cashmere’s growing influencer ecosystem, which already includes notable partners such as NFL MVP Josh Allen, fashion entrepreneur Jenna Lyons, and NFL safety Damar Hamlin, all of whom are existing Cashmere Fund investors.
The Cashmere Fund offers a differentiated model aimed at democratizing access to venture capital, particularly for non-accredited investors. With a $500 minimum investment and semi-annual liquidity windows, the fund allows broader retail participation in private markets. A recent partnership with Apex Fintech Solutions aims to broaden retail access, with plans to launch on major brokerage platforms.
Since inception, Cashmere has deployed capital into over 35 portfolio companies, including emerging consumer brands like Hone Health, Graza Olive Oil, and IQBAR. As of June 30, 2024, its portfolio companies and affiliated funds have collectively raised over $500 million, with Cashmere leveraging its network across sports, entertainment, and culture to drive brand and revenue growth for portfolio companies.
Jordon Rooney, CEO of Jaster Athletes, advised Cashmere in structuring the NIL partnership.