Cache, a U.S.-based wealth management platform specialising in tax-efficient diversification solutions for investors with concentrated stock positions, has secured $12.5m in Series A funding.
The investment round was led by Bill Trenchard at First Round Capital, with participation from solo investors from across the technology and finance sectors.
Founded to address the limited options available to those with large, single-stock holdings, Cache offers a modern take on exchange funds—investment vehicles that allow investors to swap concentrated stock positions for diversified portfolios while deferring capital gains taxes.
The company plans to use the fresh funding to expand its platform capabilities, grow its team, and broaden its range of benchmarked exchange funds. This will support its ambition to become the go-to solution for managing concentrated equity positions across a range of investor profiles, from startup employees and founders to family offices and wealth advisers.
Cache has already demonstrated strong market traction, surpassing $625m in total assets in just over a year since launching in March 2024. The platform has attracted a varied client base, including public company executives, long-term investors, and more than 400 registered wealth management firms. It has also expanded its offerings to include funds benchmarked against the S&P 500 and S&P 500 Growth indices, alongside its original Nasdaq-100 product.
Bill Trenchard, partner at First Round Capital, said, “This is one of those rare cases where the team, timing, and market opportunity align perfectly. Cache is solving a real problem, with clarity and urgency.”
Cache founder and CEO Srikanth Narayan said, “When I started Cache, I wasn’t trying to build a company that sounded like a financial institution. I just wanted to solve a problem I was facing myself, and that is what to do with a lopsided portfolio full of tech stock that had gone up a lot, but came with a huge tax bill if I tried to diversify. That problem wasn’t mine alone. It turns out thousands of others were in the same spot.”
Wesley Gray, founder and CEO at Alpha Architect, added, “Cache is bringing a sophisticated, tax-efficient strategy to investors who never had access before. It’s a big deal.”
The company’s team includes industry veterans such as Aaron White, former chief growth officer at Adero Partners, leading investor solutions, and Paul Smith, previously design lead at Opendoor and Uber, heading product design. Advisors include Peter Crawford, CFO at Schwab, and Tim Kochis, a pioneer of the RIA movement.
Cache operates as an SEC-registered broker-dealer and investment adviser, with assets held at institutional custodians including BNY Mellon, and offers SIPC protection up to $500,000 per account along with additional private insurance.
Read the daily FinTech news
Copyright © 2025 FinTech Global
