Why We Invested in Carry Advisors
Our Journey as Customers and Investors
My wife, Midori, and I recently made an investment in Carry Advisors (formerly known as Ocho Advisors) as part of their Series A round, a decision that feels as much personal as it is financial. What originally attracted us to Carry was that we were already customers, benefiting from their streamlined solutions for business owners like ourselves. We both started our own businesses about two and a half years ago, and personal finance has been a major focus for us since then. One of the financial strategies we wanted to pursue was setting up solo 401k accounts to optimize taxes and maximize retirement savings.
Our journey to setting these up led us to the usual suspects—banks like Fidelity, Schwab, and Vanguard. But despite being trusted institutions, the process for setting up solo 401ks through these legacy banks was cumbersome. The paperwork was extensive, the guidance sparse, and the whole thing felt more like a burden than a step forward.
That’s when we came across Carry Advisors. Their process was a breath of fresh air—what typically took days of paperwork with other banks was handled in a simple 10-minute onboarding process. And the moment I met the Carry team, including their founder, Ankur Nagpal, I knew they were solving a real problem not just for us, but for the growing community of solo business owners.
A Team We Can Trust
One of the things that struck me most about Carry Advisors, beyond their product, is the quality of the team. Ankur Nagpal and his co-founders have a history of strong entrepreneurship, having previously built Teachable, a company that I was familiar with and had personally benefited from as a learner. When I look at founding teams, I focus not just on their experience but on the synergy between them. Building a company is tough, and the ability to weather challenges together is critical. Ankur’s team clearly has that synergy, which gives me confidence that they will stay true to their vision and continue to innovate.
What also impressed me was Ankur’s consistency. I’ve seen him on podcasts like Sam Parr’s MoneyWise and My First Million, and his presence on those platforms reflects exactly who he is in person. There's no facade—his authenticity shines through in everything he does, from his leadership style to his interactions with customers. That level of consistency is rare, and it’s one of the reasons I trust him and his team to build Carry into something great.
Positioned for a Changing World
I believe we are on the cusp of a significant shift in how people work, one that Naval Ravikant predicted years ago. In the future, the world of work will resemble how Hollywood operates today—independent contractors with specialized skills coming together to collaborate on specific projects before moving on to the next. I’ve already seen this shift begin in my own circles. The pandemic accelerated it, showing people that work can be done differently, more flexibly, and in a way that’s both fulfilling and lucrative.
As more people choose to work independently, they’ll need financial tools designed for business owners, and that’s where Carry comes in. Carry is not just another financial institution—it’s an internet-first, tech-savvy solution built for the next generation of business owners. Unlike legacy banks, which still offer clunky online experiences, Carry is designed from the ground up for the digital age, and that’s why I believe they’re well-positioned to grow with this trend.
Customer-Centric Innovation
What further solidified our investment decision was the way Carry develops its products. Their pricing is simple and their onboarding + support is unmatched (though, no doubt, scaling this will be the challenge).
Being a customer myself, I’ve seen firsthand how customer-centric their approach is. Take, for example, how they handle cash sitting in retirement accounts. Instead of offering the typical low-yield interest rates that most banks do, Carry took the time to maximize the yield on that cash, ensuring their customers get the best possible outcome. This approach epitomizes the idea of building for the customer first and trusting that financial success will follow.
This philosophy—putting customers first—is exactly what I look for in companies I invest in. It’s a sign that they’re committed to building something that will stand the test of time, rather than just chasing short-term gains.
Excited for the Journey Ahead
Ultimately, Midori and I are thrilled to be a small part of Carry’s journey, not just as customers but now as investors. We believe in their vision, their team, and their ability to innovate in the personal finance (for business owners) space. We look forward to seeing where they take the company and supporting them however we can along the way.
