Sweater Industries LLC

Sweater Industries LLC is an SEC-registered investment adviser based in Boulder, Colorado, according to Form ADV Part 1A filed March 31, 2026.

The firm's Form ADV Part 2A brochure dated March 31, 2026 says Sweater is primarily owned by Jesse Randall, who is listed as Primary Owner.

The brochure describes services including portfolio management for a registered investment company, potential future portfolio management for special purpose vehicles or private funds structured as 3(c)(1) or 3(c)(7) funds, co-investment with partner venture capital funds, use of a deal scout network, direct investment into other venture capital funds, acquisition of shares in secondary markets, and advisory services across pre-seed through Series C or later stage investments.

IAPD, read September 30, 2026, shows the firm's SEC registration status as Approved effective January 3, 2022, with a notice filing in Colorado effective the same date.

Form ADV Part 1A filed March 31, 2026 lists the firm as a Delaware limited liability company with a fiscal year ending in December, 7 total employees and 2 advisory employees, no broker-dealer representatives, and no affiliated broker-dealer or investment adviser entities.

The filing reports no other offices and states the firm does not sponsor a wrap fee program.

Form ADV Part 1A filed March 31, 2026 reports one client classified as an investment company with $16,110,668 in regulatory assets under management, and one client classified as a pooled investment vehicle with $39,102 in regulatory assets under management, for total regulatory assets under management of $16,149,770 across 2 discretionary accounts.

The firm's Form ADV Part 2A brochure dated March 31, 2026 states assets of $16,149,770 as of December 31, 2025.

Form ADV Part 1A filed March 31, 2026 also reports that Sweater advises one private fund with gross asset value of $236,000, classified as a venture capital fund.

The brochure says compensation is calculated as a percentage of assets under management; for one of its vehicles it describes a management fee of 2 percent of average daily net asset value calculated and payable monthly in arrears, and it says fees for other pooled investment vehicles, sub-advised funds, and private funds are set out in each vehicle's offering documents, accruing daily and paid monthly, quarterly, or periodically in arrears.

The brochure states Sweater does not accept performance-based fees and does not manage both performance-fee and non-performance-fee accounts simultaneously.

Form ADV Part 1A filed March 31, 2026 indicates the firm does not have custody of client cash or securities, while the brochure says Sweater may be deemed to have custody of Private Fund assets as general partner or managing member, and that it complies with the Custody Rule by using a qualified custodian for non-privately-offered securities and by obtaining annual audits of Private Funds' financial statements from a PCAOB-member independent auditor.

The brochure discloses that Sweater Inc. is the Managing Member of Sweater Inc Member SPV LLC, a Delaware series limited liability company.

The brochure lists several conflicts of interest, including that Sweater or a related person may recommend or transact in securities in which it has a material financial interest, that simultaneous trading by the firm or related persons in recommended securities is managed through pre-clearance and trading review, that Sweater has entered written solicitation agreements compensating solicitors based on investment management fees earned, that it makes payments to financial intermediaries and strategic partners for sales-related benefits, that some solicitors may hold an indirect, non-controlling interest in Sweater, that it may be deemed to have custody of fund assets as general partner or managing member including the ability to deduct its own fees, and that proxy voting conflicts may arise and are assessed by its Proxy Committee.

Form ADV Part 1A filed March 31, 2026 reports no disclosure events for the firm.

The firm's Form ADV Part 2A brochure dated March 31, 2026 states there are no legal or disciplinary events to disclose, saying "No material items exist at this time."

AltStreet's records as of September 30, 2026 list Sweater Industries LLC under the platform name Sweater.