Cache Raises Series A to Expand Access to Sophisticated Investing

Announcing our Series A to make sophisticated investing more accessible

Srikanth Narayan

Founder and CEO

I started Cache to solve a problem I faced myself — too much of my net worth tied to one or two stocks, and selling to diversify meant losing over 35% to capital gains taxes.

I knew I wasn’t alone. Public companies spend over $350 billion a year on stock-based compensation, and after fifteen years of market growth, it’s natural that investors’ portfolios have become lopsided with a few winners.

One of the earliest solutions to this problem, the exchange fund, was barely accessible. It was limited to private wealth clients and rarely had capacity for the stocks people wanted to diversify. That left most investors with two equally unappealing options: keep holding the risk, or sell and pay the tax.

Cache changes that.

Our modern exchange funds let you swap concentrated stock for a diversified portfolio tracking major benchmarks like the Nasdaq-100 or S&P 500. You defer capital gains taxes until you choose to sell, maybe decades later. This keeps more of your hard-earned wealth working for you, instead of reducing your base through taxes today. We’ve lowered the minimum to $100,000 and cut fees significantly compared to legacy providers, while adding innovations like bi-weekly onboarding and tighter index tracking.

Cache Raises Series A to Expand Access to Sophisticated Investing from Cache Financials Inc on Vimeo

A major milestone

Today we’re announcing that Cache has raised $12.5 million in Series A funding at a $125 million valuation, led by Bill Trenchard at First Round Capital, with participation from Quiet Capital and leaders across tech and finance, including Amar Hanspal (former CEO of Autodesk), Tim Kochis (former CEO of Aspiriant and author of Managing Concentrated Stock Wealth), Zach Abrams (founder of Bridge), and Brian Hale (Chief Growth Officer at DoorDash).

This comes on the heels of rapid growth:

We’re already working with a diverse group of public company executives, tenured employees, long-term investors, family offices, and hundreds of wealth management firms.

Building for scale

The traditional exchange fund model wasn’t built for today’s market realities. Capacity was unpredictable. Benchmark tracking could drift. And the biggest frustration — they often turned away the very stocks investors most wanted to diversify.

We’ve rebuilt that model from the ground up. At the heart is Index Sync, our method for keeping portfolios in tight alignment with benchmarks like the Nasdaq-100 and S&P 500. By pairing contributed stocks with ETF holdings, we can fill sector gaps, prevent drift, and accept more of the stocks people actually own, without losing tax efficiency ( Read more in our recent deep dive).

It’s working.

UNIX, our Nasdaq-100-benchmarked fund, shows a 0.99 correlation. Bedrock, our S&P 500-benchmarked fund, launched with sector exposure closely tracking the index across all 11 GICS sectors. And because our funds close bi-weekly, investors can diversify faster instead of waiting months for a window to open.

We’ve also been expanding the team. Aaron White (formerly Chief Growth Officer at Adero Partners) now leads Investor Solutions, and Paul Smith (former design lead at Opendoor and Uber) heads product design. Advisors like Peter Crawford (former CFO at Schwab) and Tim Kochis bring decades of industry expertise to our next stage of growth.

What’s next

Our mission is straightforward: make sophisticated, tax-efficient investing available to every investor with a concentrated position — from RSU-holding employees to founders, family offices, and the financial advisors who serve them.

If you’re sitting on a stock that’s been good to you but now dominates your portfolio, you have more options than “sell and pay” or “hold and hope.” Cache was built for exactly that problem. Now, with this Series A, we’re ready to solve it for many more people.

👉 See if you qualify for the upcoming fund close.

Disclosures

Cache Advisors, LLC (Cache) is an investment adviser registered with the SEC, which advises the Cache Exchange Funds. Cache Exchange Funds are alternative investments available only to accredited investors or qualified purchasers. For more information on eligibility criteria and the difference between accredited investors and qualified purchasers, please view this article. Investors should carefully review offering materials before investing. Cache does not provide investment recommendations or consider individual financial objectives; investors are responsible for determining whether an investment is suitable for their needs. For additional information and important disclosures, please view: https://usecache.com/legal/use-and-risk-disclosures

“Index Sync” refers to the Cache Exchange Fund strategy of making indirect investments in Exchange-Traded Funds (ETFs) sponsored by third parties that are unaffiliated with Cache. These ETFs track broad-based securities indices. This approach enables certain Cache-sponsored Exchange Funds to gain exposure to a larger and more diversified investment portfolio than could be achieved by holding contributed securities directly. Index sync is only available to specific Qualified Purchaser funds (Select funds).

$750,000 in Average Capital Gains deferral refers to the difference between the cost basis and the current market value of contributed securities across all Cache Exchange Fund investors. $900,000 in Average Investment refers to an average across all investors; some investors may be invested in multiple Cache Exchange Funds.

Total assets of $625 million refer to the gross assets under management across all Exchange Funds managed by Cache Advisors, LLC, as well as assets pending future contribution into an Exchange Fund on the Cache investing platform, and assets utilizing a Collar Advance that was successfully completed. Assets pending contribution on the platform may be withdrawn at any time and are not managed by Cache. Collar Advance assets are also not managed by Cache. All data is as of August 13, 2025, and will not be updated.