Announcing the Close of Fund III
$93.33M to back the next generation of financial services
We’re proud to share that Deciens has closed Fund III with $93.33 million in limited partner commitments.
Three might just be our lucky number, but this milestone is no accident. It reflects the caliber of the founders we back, the quality of the companies they are building, and the belief partners have in our approach.
Founded in 2017 by Dan Kimerling, Deciens was built on a simple premise: financial services are the backbone of modern society, and transforming them requires both depth and discipline. Since then, we’ve backed founders who are reimagining how financial services are created, distributed, and consumed across markets, categories, and products.
“I started Deciens with the core belief that focus isn’t a constraint; it’s a superpower. It gives us clarity in a complex, noisy space. With Fund III, we’re doubling down: investing early, going deep, and supporting founders with the insight only sustained focus makes possible.”
Over the last eight years, Deciens has raised and deployed two early-stage funds and actively supported portfolio growth through follow-on investments via SPVs. This work has delivered strong results: both Funds I and II are top-quartile performers by TVPI, and Fund I ranks in the top decile for its vintage. As of Q1 2025, top-quartile 2018 funds benchmark at 1.76x TVPI, with top-decile at 2.29x. Notable investments across Funds I and II include Chipper Cash, Treasury Prime, GlacierGrid, Tint, Sydecar, and beatBread.
Fund III’s close brings our total AUM to $290 million, and we’ve already been putting it to work. We’ve made four investments so far – including Grupago, Generous Energy, June Point Lending, and another company in stealth mode – and expect to lead or co-lead investments in 12-15 companies in total. As always, our approach remains high-conviction and hands-on, seeking meaningful ownership in companies operating in large, winner-take-all markets with highly defensible moats.
“Fundraising is just the starting line. What matters most is how you show up afterward. At Deciens, we partner early, stay close, and operate as a true extension of the founding team, working shoulder-to-shoulder to help build durable companies.”
Our strategy has led us to invest across the globe – in the US, Latin America, and Africa – in areas ranging from embedded finance and core banking infrastructure to lending, insurance, and compliance.
We don’t chase trends, but we do evolve – guided by a thesis that remains unchanged.
Nowhere is that clearer than in AI. In our recent post, The Realities of AI Investing, we outlined how we’re approaching the space: why AI is changing the paradigm, where we see compelling opportunities, where we’re cautious, and how we envision AI being thoughtfully integrated into businesses.
The value isn’t in flash-in-the-pan models. It’s in using the technology to deliver transformative products, building those products and businesses in fundamentally different ways, or both. Many of our founders already leverage AI to enhance underwriting, streamline back-office workflows, detect fraud, facilitate faster, more personalized financial experiences – with new use cases emerging all the time. AI is deeply embedded in what they’re building, driving scale, defensibility, and customer experiences that couldn’t have existed otherwise.
Our disciplined approach to AI mirrors our broader investment philosophy, which remains central as we deploy Fund III.
To support that work, we’ve added a third partner. Vishal Rana has been promoted to Partner, Portfolio & Operations. Previously our Operating Partner, Vishal’s work leading portfolio support and fund strategy has been instrumental in scaling our impact.
“Deciens’ concentrated approach lets me do what I love: operate and support incredible founders who know the terrain and are serious about building. I’ve been on the other side, and I know firsthand how much real partnership can matter in the early days. That’s what we aim to provide.”
As we enter the next chapter with this strengthened team, we’re staying true to our core: investing with focus, operating with discipline, and supporting founders building enduring companies in financial services.
To our founders, LPs, and broader community, thank you for your continued trust. We couldn’t have reached this milestone without you.
Onward.
