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Sweater: The Evolution of Venture Capital

Investing in VC deals used to be for accredited investors who were well-connected.

​Sweater Ventures​ revolutionized the way VC works.

What does Sweater do?

In 2022, they created the Cashmere Fund. This was the first VC fund that anyone could invest in — accredited or not.

Now, they've built something even more interesting: A platform that lets qualified partners start public funds​.

  • Qualified partners are fintech companies, brokerage firms, banks, universities, even celebrities and influencers.

  • VC, real estate, PE, and private credit funds are all possible using Sweater.

  • These are SEC-registered interval funds available to both accredited and non-accredited investors.

  • Public solicitation is allowed (← this is huge)

Think of it as private market investing using public fund infrastructure.

Why invest in Sweater?

  1. Proven tech. The Cashmere fund has 5,500+ investors and $14m AUM deployed into 33 promising startups.

  2. Accelerating sales. Their first partner contract was just signed (a $500m fund). They're in the final stage on 3 additional contracts, and have a $4.6b AUM fund partner pipeline.

  3. Venture-backed team. Backed by 6 VCs, including Motivate, Akuna, and Bonaventure. Already raised $19m.

How to invest in Sweater:

Check out Sweater Ventures →

Disclaimer: This is a paid advertisement for Jurny’s Regulation CF offering. Please read the offering circular at​ ​​https://www.startengine.com/offering/jurny​.

📰 Market Headlines

  • Stocks eked out modest gains yesterday as weak economic data bolstered hopes for rate cuts later this year.

    • The Dow advanced 0.4%, while the S&P 500 and Nasdaq posted smaller gains of 0.15% and 0.17%, respectively.

  • Meme stock influencer "Roaring Kitty" saw his net worth soar to nearly $300 million as he held onto a massive GameStop position.

    • E-Trade is considering banning him over manipulation concerns.

đŸ•¶ïž Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

đŸ˜± Fear and Greed Index

đŸŽ€ What you said last time

“No one in this world, so far as I know—and I have searched the records for years, and employed agents to help me—has ever lost money by underestimating the intelligence of the great masses of the plain people.”

📈 Trends you need to know

“Tesla Motors' brand reputation continued to slip over the last year as Elon Musk's antics and other issues tarnished its once-impeccable image, according to new Axios Harris Poll 100 survey results.”

🧠 What do you think?

💬 Have your say

Yesterday, it was revealed that “Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI.” This pushed back Tesla’s “receipt of over $500 million in processors by months.”

Further, a “recent Nvidia email, from late April, said Musk’s comment on the first-quarter Tesla call “conflicts with bookings” and that his April post on X about $10 billion in AI spending also “conflicts with bookings and FY 2025 forecasts.”

The material misrepresentations on the earnings call potentially violate securities laws.

📊 Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Get my free shares →

Winners and losers

Earnings, upgrades, and acquisitions

Market movers

  • ChatGPT, Claude, and Perplexity all went down simultaneously yesterday.

  • Musk diverted over $500 million worth of Nvidia AI chips from Tesla to his other companies, X and xAI, delaying Tesla's AI plans by months.

  • Paramount-Skydance merger talks hit a snag as Shari Redstone was displeased with Skydance's reduced offer.

  • Microsoft and Google have announced plans to cut hundreds of staff from their cloud business sectors.

  • Netflix settled a defamation lawsuit with the Central Park Five prosecutor, donating $1 million to the Innocence Project.

Ideas, trends, and analysis

  • A new poll reveals 65% of middle-class Americans struggle financially, with 40% unable to plan beyond their next paycheck.

  • Americans typically spend about 24% of their income on mortgage payments, just shy of the often recommended 30% threshold.

  • Sales of Chinese electric cars in Europe have dropped, with new registrations at just 2.9% in early 2024.

  • The wealth gap in Europe is widening, with the richest countries having over ten times the wealth per adult compared to the poorest.

🌍 Global Perspectives

  • 🇼🇳 Indian stocks had their worst day in 4 years as Prime Minister Modi's hopes of a huge majority fade.

  • đŸ‡źđŸ‡± đŸ‡”đŸ‡ž Israeli forces launched a new ground and air assault on central Gaza, killing at least 6 Palestinians.

  • đŸ‡”đŸ‡č Portugal has left 400,000 jobseekers in limbo with its latest immigration crackdown.

  • đŸ‡”đŸ‡­ 🇹🇳 The Philippine military chief said the Chinese coast guard seized food dropped by plane for Filipino forces in the disputed South China Sea.

  • đŸ‡°đŸ‡· đŸ‡°đŸ‡” South Korea suspended a contentious military agreement with North Korea to resume front-line military activities.

📊 Crypto

  • Ark Labs launched to develop a new Bitcoin Layer 2 payments network based on the Ark protocol.

  • Bitcoin miner Core Scientific surged 40% after signing a 200 MW AI deal with CoreWeave.

  • Euro-pegged stablecoin issuer Lugh is halting issuance due to the EU's MiCA regulation.

  • Ex-Polygon team secured a $43 million Series A round for Avail, a blockchain-scaling solution aiming to unify fragmented rollup ecosystems.

🧠 Errata

  • A 63-year-old grandmother went from novice to world record holder in powerlifting in just five months.

  • AI now allows people to talk to dead loved ones through interactive voice simulations. Seems healthy.

  • A 74-year-old woman pronounced dead in hospice care was found breathing at a funeral home.

  • Muhammad Ali's childhood home converted into a museum, is up for sale in Kentucky for $1.5 million.

đŸ“ș What to Watch Today

Time to get on Zillow.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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