Are they legit? sweaterventures.com
I've been seeing a lot of ads for sweater Ventures lately, which is VC for everyone. Does anyone know if they are a legitimate shop? And if they are actually generating real returns and is worthwhile investing in? Thank you
Spent 5 minutes on their website and they seem shady.
- They identified a "fund structure" to get around the accredited investor requirement, but don't elaborate
- Due diligence is "boring analytical work they'll take care of" ?
- Lockup is unclear, but they state it's long-term
- The 2 cofounders are also serial founders, 8 companies started between those two, with limited VC experience - it's not like these are 10 year VC veterans with true contacts
- Relevant to the above point, they want people to apply to their scout network to source leads in exchange for learning and exposure - they recommend angel investors and VC employees apply... lmfao
Honestly the average guy shouldn't be investing in pre-seed/seed/Series A stuff because there's a good chance he'll lose his shirt (or sweater, I guess). Maybe I am just crotchety but I saw tons of red flags in literally a few minutes browsing
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