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Happy April! We have a great edition of The Spool in store for you today - it's a 4-minute read.
In April's edition:
So let's dive in!
There’s an undeniable power to generational wealth and collectively we can see what a difference it can make in an individual and family’s life. But generational wealth is usually amassed through private investment opportunities, like venture capital. And to participate in private investment opportunities like venture capital, you usually need to be accredited.
Accreditation certainly had its place when instituted over a century ago in 1933 during the Great Depression. In the years leading up to establishing the law, the government may have had good reason to believe novice investors and the general public didn’t have the knowledge or experience to thoroughly evaluate an investment – at the time, less than 30% of the population graduated from high school.
But that’s no longer the case.
The government’s original argument that the general population does not have the knowledge or experience to thoroughly evaluate an investment is simply no longer valid a century later. 91% of Americans between ages 25-30 have graduated high school or obtained a GED as of the last US census in 2020. Over 58% of the population in 2020 have at least an associate degree. Beyond educational status, vast amounts of knowledge and financial resources are available to the general public in ways unthinkable in 1933.
Today, the 97% of U.S. households that are non-accredited can now have access to venture capital for as little as $500 through Sweater’s Cashmere Fund.
But what’s more exciting is that qualified partners can use our turnkey fund management platform to open their own Public VC Funds ensuring that you and your fellow retail investors have more investment options.
Pear Suite announced they are participating in the California Department of Health Care Access and Information (HCAI)’s statewide training program, Caring4Cal. Caring4Cal is an innovative workforce development program aimed at expanding, enhancing, and strengthening the state's Home-and-Community-Based Services (HCBS) workforce. Pear Suite anticipates the training initiative will benefit over 1,000 community health workers. To read more, click here.
Congratulations to OROS Labs on closing their latest funding round, raising over $22 million. Want to learn more about our latest port co? Learn all about the materials science, textile, and consumer brand developing the warmest insulation on the planet using proprietary IP here.
Cabinet Health was honored at The Lead‘s Foremost 50 Forum as a Standout Award Winner for their efforts on sustainable healthcare and tackling single-use plastic medicine waste.
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Get your Sweater fix on-demand. To view our entire library of on-demand content, click here.
Michael Markesbery, co-founder and CEO of OROS Labs, is obsessed with developing the warmest insulation on the planet using proprietary IP.
While he originally attended Miami University to become a doctor like his grandfather, Michael decided to take another path instead to study entrepreneurship. The pivot is thanks to Michael's Co-Founder & COO and then fellow Miami student Rithvik Venna. After a lot of R&D in Miami University's Science Lab, they validated their idea and launched OROS after raising $319,000 through a Kickstarter campaign. Just two years later in 2018, the two co-founders joined Forbes's 30 Under 30 list for Retail & Ecommerce.
OROS Labs originally started as an apparel brand with their first-generation Solarcore-based apparel but has since expanded into a materials science company focused on advancing thermal insulation. OROS' latest products are being used across US Defense after landing a $10 million appropriation from Congress. Solarcore is being used in lightweight apparel for maximum insulation for major brands such as Merrell, L.L.Bean, and Cabela’s. It also has use cases in cold chain supply packaging for temperature-sensitive medication and was recently on a Blue Origin flight to see if it could extend the life of batteries in space.
Michael and his co-founder Rithvik have continued to grow with the company over the past decade while surrounding themselves with top-tier talent and advisors. We couldn't be more excited to see what OROS Labs develops next with Solarcore.
Want to get a bigger piece of the pie? Click here to make a one-time investment in the Cashmere Fund.
We’re thrilled to share that with your help we hit a major milestone in our StartEngine campaign! We surpassed $300,000 raised from over 260 investors. We are so excited to continue our mission, with your help, to make venture capital accessible to anyone.
We are extraordinarily proud to be supported by venture capitalists including Motivate Ventures, Akuna Capital, Bonaventure Capital, SUM Ventures, Kickstart Seed Fund, and Curate Capital.
But welcoming retail investors to our cap table is what Sweater Inc. is all about. Want to learn more about the campaign? Click here.
