Cache, a San Francisco, CA-based brokerage specifically created for large stock positions, raised $8.5m in seed funding.
The round was co-led by First Round Capital and Quiet Capital with support from notable angels across Silicon Valley and Wall Street, including Adam Nash, Ajeet Singh, Gokul Rajaram, James Herbert, Martin Mao, and Ralph Drybrough.
The company intends to use the funds to expand operations and its development efforts.
Led by Srikanth Narayan, Founder and CEO, Cache has just announced the launch of the Cache Exchange Fund, a diversified fund created by pooling investors with concentrated stock positions. Investors contribute stocks in specific ratios to mimic an index fund, and each investor receives fund shares in exchange for their stocks. Benchmarked to the Nasdaq-100, the Cache Exchange Fund is an automated platform that assists with the onboarding timeline and takes just minutes to complete.
