The Spool: October 2023 - 🧵 Venture News, Job Openings, and More!

We have a great edition of The Spool in store for you today - it's a 5-minute read.

In October's edition:

  • Meet Curtis Wong, founder & CEO of port co Cloud Apartments, who’s bringing rocket launch precision to the modular construction industry☁️
  • Looking for a new job? We’ve got you covered, no tricks here🎃
  • Spooktacular updates from our portfolio companies👻
  • Virtual Events💻

So let's dive in! 

But First...

The world can feel like the upside down at times. One minute, you’re reading articles about how the markets are falling, the government is shutting down, and how the auto strike could impact your wallet, the next, you’re reading interest rates are holding steady, we’re experiencing a soft landing, and LinkedIn influencers are declaring “We’re Back!” on the news of recent IPOs.

You might be asking, “What does this mean for me?”

Or “How can I take advantage of the current economic conditions to secure my financial future?”

The endless experts and sales pitches in your inbox don’t make it any easier to read between the lines. And we’re not here to be another one of those voices. In fact, we often highlight that Sweater is not an investment for everyone. It’s a long-term investment that carries risk with potentially high returns.

But we want to give you some facts so you can feel more prepared and comfortable tackling your investment portfolio.

  • Historically, stonks don’t only go up. We know you know that, but we had to say it. Most investors don’t get rich overnight – the individuals that do are the exception, not the rule. Or they’re being investigated by the SEC.
  • The U.S. market has always recovered from downturns, but it takes time. In 1987, the market recovered within two years. In 2000, it took seven years. In 2008, it took two years. In 2020, it took six months. No one has a crystal ball.
  • Diversification is key to any portfolio. Investing in alternatives like Venture Capital can be a great way to balance out your investment portfolio. Having a diversified portfolio is one of the only ways to keep your money working for you in the current macroeconomic climate. That’s why institutional investors have shifted their allocations to private and alternative investments to close to 20% over the last few years. And JP Morgan Private Bank is seeing clients allocate 15% to 30% of their portfolios to alternatives like VC.
  • Know your risk tolerance and time horizon. If you need help assessing these, consider contacting a financial planner who can help.

As promised, this isn’t a sales pitch. For more insights on venture capital, check out our website where the team tackles topics top of mind.

If you ever have questions about Sweater’s Cashmere Fund or VC, let’s chat facts! If you prefer to check out our online resources, peruse our Knowledge Base which contains Sweater-specific content and general Investing 101 resources.

Port Co’s in the Wild

News, with a seasonal twist🗞

  • It’s not 1999, family sized candy bars are out and IQBAR is in! Be that house this year, give trick-or-treaters what they really want--IQBARs! For those looking for Pumpkin Spice and everything nice this fall, IQBAR has you covered with limited edition Pumpkin Spice coffee sticks.
  • Trying to find an organically grown, orange wine? Nomadica took white grapes and fermented them with their skins, and the resulting wine is full of texture, dry tropical flavors and refreshing. With notes of pineapple, jackfruit, honey, orange blossoms and dried chamomile flowers, it pairs perfectly with chicken, seafood and lamb. Find it at your local Whole Foods or order direct here.
  • In what is quickly becoming one of the best stories of the season, Graza has launched a canned olive oil martini in partnership with Aura Bora after Andrew Benin, Graza’s founder made a joke to Paul Voge, Aura Bora’s founder. More on that joke here. This alc-free martini pairs perfectly with holiday festivities. If you’re thinking to yourself “Olive oil martini?” the Food Network is here to remind us all that “olive oil is no stranger to the bar scene, adding body and fruity undertones to a variety of drinks. And switching gears from bartender to baristas, if you’ve been to a Starbucks recently, you’ll know that olive oil is the coffee chain’s latest menu addition inspired by the pairing of coffee and olive oil at breakfast in Italy.” To get your Olive Oil Martini featuring Graza’s Extra Virgin Picual Olive Oil, click here.
  • In the market for an awesome Halloween costume you want to wear again that doesn’t end up in the donate pile the next day? Feat and Frances Valentine are giving Barbie&Ken and The White Lotus vibes.

📸 Tag us on Instagram to be featured in our stories if you’re incorporating a port co in your Halloween plans!


Interested in how Startup equity actually works? Click here.  

Founder Spotlight🔎

Curtis Wong, founder & CEO of Cloud Apartments, is obsessed with lowering the cost of building residential housing. And with Curtis’ background in engineering and tech, Cloud Apartments is poised to do just that.

Curtis graduated from Harvard Business School where he focused on real estate development. He also has a Master of Science in Structural Engineering from Stanford University and a Bachelor of Science in Civil Engineering from UC Irvine.

Curtis gained experience in modular construction and engineering designing and developing Starcity Minna, a 16-story modular tower in San Francisco, working as a Launch Engineer at SpaceX for the Falcon Vehicles, and at real estate companies helping them retrofit commercial buildings for earthquake resistance.

Cloud Apartments has patented designs for apartment modules and snap-together construction that reduces construction costs and building time. Curtis is using his experience at SpaceX as a Launch Engineer to implement a site installation process similar to a rocket launch called Cloud Alignment System (CAS). CAS will make on-site installation accurate and fast, cutting the cost of construction significantly while also increasing the speed to completion to get tenants in. This opens up new locations for feasible real estate investment, increasing the housing supply in needed areas.

The best part? These lux apartments are prefab units you actually want to live in. Every square inch of the layout is designed with features like soundproof walls, built-in sound systems, and fully enclosed balconies all with sustainability in mind.

Curtis is bringing innovation and standardization to the construction and real estate development industry through Cloud Apartments to build the most futuristic apartments yet. With three projects already under contract, we can't wait for Cloud Apartments to get a piece of the $28B modular construction market opportunity.

Want to invest in Cloud Apartments and other innovative start ups? Click here to make your initial investment in the Cashmere Fund.  


Sweater Office Hours⏱

Tuesday, October 10th

12:30 PM MDT

Office Hours is where you can turn to get answers to any and all questions you may have, so you can enter the world of venture investing feeling confident. We purposely keep these sessions small so we can really dive into anything on your mind. We'll always cover an overview of our investment strategy, returns, liquidity, and fees, plus leave lots of time for Q&A. Register here.

Sweater, On-Demand📖

Get your Sweater fix on-demand. To view our entire library of on-demand content, click here.

The Spool
Written by
The Sweater Team
Published on
October 26, 2023
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Disclosure: Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. The prospectus contains this and other information about the Fund and can be obtained by calling 1-888-577-7987 or by visiting the Fund’s website at Please read the prospectus carefully before investing. All investments involve risks, and past performance is no guarantee of future results.