“This is the first time ever that communities such as fintech platforms, Discord channels, universities, and Hollywood celebrities will be able to launch their own fund and invite their audience and main street investors to participate in the asset class.”

BOULDER, Colo.–(BUSINESS WIRE)–Sweater, the first fintech company to offer main street investors access to a venture capital (VC) fund, announced today the launch of Public VC Funds, the world’s first platform where qualified partners can create their own VC fund and invite their communities and the general public to participate, regardless of accreditation status.

> “This is the first time ever that communities such as fintech platforms, Discord channels, universities, and Hollywood celebrities will be able to launch their own fund and invite their audience and main street investors to participate in the asset class.”

For over 50 years, VC funds have been exclusive by design, only allowing wealthy investors to participate, and typically requiring $500K minimums and offering fewer than 99 seats. Until recently, everyday investors had no way of accessing these funds unless they were accredited, meaning they were high-net-worth individuals or institutions with investable assets exceeding $1 million or an income over $200,000 for at least the last two years.

“We built Sweater to create an inclusive VC community and help retail investors navigate past high wealth thresholds and exclusive networks that have locked out 99% of the population for decades,” said Jesse Randall, Founder and CEO of Sweater. “This is the first time ever that communities such as fintech platforms, Discord channels, universities, and Hollywood celebrities will be able to launch their own fund and invite their audience and main street investors to participate in the asset class.”

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