E8: Investing with Compound Influence: Elia's Journey from Entertainment to Venture Capital

At Slice, we're always on the lookout for emerging funds and managers who are redefining the venture capital landscape. In this episode, we chat with Elia Infascelli, Founder and Managing Partner of Forma Capital and Partner/CEO of Cashmere. Elia is forging a new path that blends capital investment with the power of influence. With Forma’s recent partnership with Sweater Ventures to launch the Cashmere Fund, Elia is leading fundraising, marketing, and capital deployment, while Sweater Ventures handles investor relations, compliance, and asset valuation.

https://www.businesswire.com/news/home/20240923095136/en/Forma-Capital-Partners-with-Sweater-Ventures-to-Power-The-Cashmere-Fund

Elia's journey began in the entertainment industry, where he spent nearly two decades at Endeavor, representing talent. During this time, he had a critical "aha moment"—where he saw the untapped potential of influencers to build successful brands and businesses. This opportunity led him into the world of venture capital. 

The entertainment-to-venture-capital transition isn’t a new concept. Andreessen Horowitz (a16z) famously drew similar inspiration from Michael Ovitz's transformation of the talent agency industry with Creative Artists Agency (CAA). Ovitz created a groundbreaking integrated network at CAA, moving away from the traditional, secretive “one partner, one portfolio” model. Instead, they connected their network of clients, amplifying each other’s potential.

When we chatted with Elia about this philosophy’s application in Venture Capital, he drew a similar parallel about how to look at the data behind relationships driving success, but emphasized how inefficiencies persist in both worlds. 

"When you want to source or deploy influence—whether it's from an athlete, a celebrity, a league, or a sports team—you need good data. Who are you partnering with? Do they have a track record of success?"

One of the most interesting aspects of Elia’s approach is his dedication to democratizing venture capital access.

“Until recently, only select groups of wealthy investors had the ability to invest in compelling venture-backed private companies and benefit from their pre-IPO appreciation. Through advances in technology and regulation, we can continue to bring these opportunities to all investors, regardless of their status, through The Cashmere Fund. This is a groundbreaking development for the investment management industry, and we are thrilled to be a part of this journey with Cashmere Fund investors.” - said Elia, as quoted in Business Wire.

The Cashmere Fund operates as an evergreen interval fund, accepting new capital daily with a minimum investment of just $500. It provides liquidity through semi-annual redemption windows and annual distributions, making venture capital accessible to both retail and institutional investors. This inclusive model has the potential to reshape the industry, enabling a broader audience to engage in the growth of early-stage startups.

Elia's resilience and commitment has fueled the success of Forma Capital, and he’s aiming for similar outcomes with the Cashmere Fund. As they continue to innovate, Elia and his team are poised to leave a significant and lasting mark on the venture capital world.

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Disclaimer from Cashmere Fund: “This podcast episode is provided for informational purposes only and should not be considered investment advice. During this episode, we will discuss the Cashmere Fund, which is managed by Cashmere. As the manager of this fund, we may have an incentive to promote it, and listeners should be aware of potential conflicts of interest. The information shared here is not intended to serve as an endorsement or recommendation to buy or sell any specific security, including Cashmere Fund. Please consult with a financial adviser before making any investment decisions, as investing in mutual funds involves risk, including possible loss of principal. Past performance is not indicative of future results.”

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