Forma Capital Teams with Sweater Ventures to Run The Cashmere Fund
Forma Capital, an early-stage venture capital firm whose general partners include three former Buffalo Bills executives and current Bills quarterback Josh Allen, announced that its affiliate, Forma Cashmere, LLC, has been approved as the sub-adviser for the Sweater Cashmere Fund, an evergreen interval fund for individual investors.
The fund accepts new capital on a daily basis with a minimum investment of $500 while providing liquidity through semi-annual redemption windows and annual distributions. Retail and institutional investors can invest in the fund “in a matter of minutes”, the firm said, through its Sweater website or app. The fund is also in advanced talks to create distribution partnerships with fintech apps, neo banks and brokerage platforms.
Sweater will continue to supervise investor relations, compliance, and asset valuation functions, while Forma will assume responsibility for fundraising, marketing, and capital deployment.
The fund primarily invests in early and growth stage companies, as well as growth stage secondaries. The fund currently has more than 5,000 investors, with exposure to a portfolio of companies that have collectively raised over $500 million.
“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,” said Elia Infascelli, managing partner of Forma Capital.
Infascelli co-founded the firm with Bruce Popko and Josh Feine, both sports and entertainment executives. Infascelli, Popko, and Feine are joined as general partners by Mary Owen, Ari Schottenstein, and Buffalo Bills quarterback Josh Allen. Infascelli, Owen, and Schottenstein will manage the fund.
Since its inception in 2022, the fund has made over 35 investments in high-growth companies in the consumer products, consumer technology, financial technology, health technology, and software industries, including Hone Health, Graza Olive Oil, and IQBAR.
Pictured: Elia Infascelli, General Partner at Forma and The Cashmere Fund.