Sweater: Invest in Startups

Sweater: Invest in Startups

Venture Capital Fund Investing

340 ratings
51 reviews

Archived App

This is an archived listing of the app previously available on the App Store.

Although the app is no longer distributed by Apple, you can still view its description, screenshots, version history, ratings, and metadata for reference.

Details

  • Released
  • Updated
  • April 14, 2022
  • October 8, 2024

Features

Sweater: Invest in Startups video #1 for iPhone
Sweater: Invest in Startups screenshot #2 for iPhone
Sweater: Invest in Startups screenshot #3 for iPhone
Sweater: Invest in Startups screenshot #4 for iPhone
Sweater: Invest in Startups screenshot #5 for iPhone
Sweater: Invest in Startups screenshot #6 for iPhone
🖼️Get Icon
Icons↘︎

About

Invest in promising startups and venture capital funds with this app. It makes venture capital investing accessible to retail investors, offering a managed fund and flexible investment options. Grow your wealth by backing the next generation of groundbreaking companies.

Invest in venture capital startups
Accessible to all retail investors
Managed venture capital fund
Flexible investment amounts ($500 - $500k)
Automatic monthly contributions
Periodic withdrawal windows
Show original description

What users say

See all reviews

What's New in Sweater

0.9.1

October 8, 2024

Updates and minor improvements to make your experience better.

User reviews

Best way to get into venture

Love what Sweater has done. Generally you need to write a $250k check to be an LP in a fund. Sweater allows you to get in with just $500 and they open up bi-annual redemptions which is a first for venture. Usually have to wait 5-10 years until there’s a distribution. Low commitment way to dip your toe into venture - highly recommend.
Show more

A new unique way to invest

Sweater has been a great app. I think it’s important to not put all your eggs in one basket. VC can be risky, but if Sweater does their DD, then these investments should be sound. So far, everything has been great though. One thing I’d like to see added is a historical graph of the changes in NAV share price.
Show more

Great app, time will tell about the returns

Great app functionality so far. Gives me my daily NAV, education on VC funding, some “disruptor” content for new up and coming companies. If you read the prospectus, the management fees include a large chunk for marketing expenses, which obviously initially I understand is needed to get the kind of reach that is needed to make this a feasible operation. But having expenses potentially over 6% of AUM concerns me long term in eating away at any returns. Hopefully as the AUM grows, these fixed cost percentages will lower and they will build in a performance structure that better aligns both portfolio manager and investor incentives.
Show more

Response from developer

Thanks for your review! Worth pointing out, one of the nice things about how our Fund is structured, is we actually can NOT have expenses ever go over 5.98%, because our Expense Limitation Agreement prohibits it. In any period where expenses are exceptionally high, Sweater will forego part or all of our management fee (where our revenue comes from) in order to keep expenses at a predictable and reasonable level for our investors. It's true that investing in VC has higher costs than some other asset classes, like an index fund of publicly-traded stocks for example, but the historical returns on private companies balances out that cost across most time periods, which can make it a good addition to a well-balanced, diversified portfolio for a lot of folks (please consult a financial advisor if you're wondering whether it's a good fit for you!).

Doesn’t yet pair w/ aggregators (Intuit’s MINT)

Excited to see what’s next for Sweater. Taking a “John Bogle” Index Fund / ETF approach to VC is a long overdue innovation and opportunity to democratize private equity and diversify personal portfolios. So glad Sweater put such a focus on making a good app. Only complaint is that Sweater does not yet work with account aggregators like MINT from intuit. Means I have to add my Sweater investments manually so I know my financial status in real time and in detail.
Show more

Opportunity

I did not know much about Venture capital until I ran into this fund. I’m always looking for efficient ways to invest and diversify my portfolio and the sweater fund breaks it down in a simple way to understand with short informational videos. They are transparent with what you are getting into and the startups that will be in the fund. Overall the app is simple to use and simple to input automatic reinvestments for long term goals. They do have biannual redemption windows if you want to sell of your shares keep that in mind and don’t invest money that would you need in the short term. This fund is definitely for long term investors.
Show more

Response from developer

Thank you for your review! So glad you find the educational content valuable.

User experience

🐞

Reported Bugs

6 issues

Automatic charging without explicit user confirmation

Bug

Password reset functionality not working

Bug

Unexpected sign-outs with Face ID failures

Bug

Login screen clunkiness and error messages

Bug

Unable to access app for extended periods

Bug

No support option visible on login screen

Bug

Requested Features

7 requests

Historical NAV share price graph

Feature

Integration with account aggregators (Mint, etc.)

Feature

Marketplace for portfolio company coupons/ambassador programs

Feature

Clearer fee structure communication

Feature

Ability to delete stored bank account information

Feature

Better error messaging for technical issues

Feature

Performance-based fee structure to align manager and investor incentives

Feature

FAQ

What is Sweater?

Sweater is a mobile application that revolutionizes venture capital investing by making it accessible to retail investors. It allows users to invest in promising startups and a managed venture capital fund, aiming to surpass traditional stock market returns.

How can I invest with Sweater?

You can invest with Sweater by making a one-time investment ranging from $500 to $500,000. The app also allows for automatic monthly contributions to grow your stake in startups over time. It is designed to be accessible to both accredited and non-accredited investors.

What are the risks and rewards of investing with Sweater?

Investing in startups carries inherent risks, but Sweater aims to mitigate these by meticulously conducting due diligence on promising venture capital-backed companies. The potential rewards can significantly outweigh those of conventional stocks, offering the possibility of substantial wealth creation.

Can I withdraw my investments?

Yes, unlike traditional venture capital funds, Sweater offers periodic windows for withdrawal. This provides investors with more flexibility and access to their funds compared to longer lock-up periods often found in the venture capital space.

Is Sweater available on all devices?

The provided description does not specify compatibility with different operating systems (iOS or Android). However, it is presented as a mobile application, suggesting it is designed for smartphones and tablets.