Looking Back at Deciens AGM 2024
Celebrating the power of ownership, partnership, and perspective.
Deciens thrives on three powerful forces: ownership, partnership, and perspective. These principles drive everything we do – from investing with a founder’s mindset to building a community that sparks transformative connections. At our core is a commitment to challenging orthodoxy and uncovering value where others might not.
These forces set the tone for the conversations and connections at our Annual General Meeting on November 20. This year’s AGM brought together visionary founders, investors, and partners to share insights, celebrate resilience, and explore bold futures for financial services. While the magic of the day is hard to easily distill, here are some highlights:
State of Deciens
The afternoon kicked off with a “State of Deciens” address led by our partners, Dan Kimerling and Vishal Rana.
At Deciens, we are guided by a clear and focused strategy designed to deliver exceptional, differentiated, returns. Over the past eight years, we have created and refined a number of tactics that let us put that strategy into practice. And it is working in ways that are becoming increasingly clear – significant growth in revenue and gross margins across both funds.
Central to our strategy is avoiding “heroic assumptions.” Deciens’ concentrated, high-ownership approach to early-stage investing does not require multi-billion dollar exits to provide extraordinary results. This model improves the downside and upside scenarios compared with traditional venture capital.
Investing in the Time of AI
Our general partner, Ishan Sachdev, offered a deep dive into artificial intelligence – undeniably one of the most transformative forces of our time, reshaping industries at an unprecedented pace.
While the technology holds immense potential, we’re still in its early days and the landscape is not without significant risks. Valuations are exceedingly high, much of the spending is concentrated among a few hyperscalers to which the sector is heavily tied, revenues are yet to materialize in many cases, and the promise of the technology is outpacing the current reality.
Our focus is on companies that can deliver tangible, near-term value while building durable moats to withstand intense competition.
Fireside Chat with Ham Serunjogi, CEO of Chipper
Chipper Cash’s journey has been nothing short of a rollercoaster, marked by incredible highs and significant challenges. In a conversation with Dan, Ham Serunjogi, co-founder and CEO of Chipper, shared insights into the company’s resilience and evolution.
Ham reflected on how Chipper navigated multiple macroeconomic shocks to emerge stronger than ever. By leveraging powerful demographic tailwinds and implementing a forward-thinking technology strategy, the company has positioned itself for sustained growth and success over the next five years.
Undervalued, Untapped, & Misunderstood: Niche Market Innovators
Moderated by Vishal, this panel featured Allie Fleder (COO and co-founder of SimplyWise), Bharat Das (CEO and co-founder of Pippin Title), and Nik Talreja (CEO and co-founder of Sydecar). Together, they shared how they’ve turned niche markets into thriving opportunities by redefining what “niche” really means. What may seem limited on the surface may, in fact, be far more expansive upon deeper exploration.
The panelists emphasized the importance of deeply understanding their target customers, building innovative technology to address specific pain points, and strategically expanding into adjacent markets. Their stories showcased how focus, creativity, and bold execution can unlock tremendous value in areas others might overlook.
Keynote: Jimmy Soni
We were thrilled to welcome Jimmy Soni as our keynote speaker. An award-winning author celebrated for his exploration of creativity, ambition, and success, Jimmy shared insights on the challenges of building transformative companies. His most recent book, THE FOUNDERS: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley, became a debut best-seller and earned widespread acclaim from The Wall Street Journal, The New York Times, The Economist, and others.
In his talk, Jimmy delved into the challenges of building companies, particularly those with ambitions to drive real change. He discussed how the road is especially tough in the financial services industry, but emphasized that with audacity and tenacity, small teams can disrupt the status quo in ways that benefit both humanity and investors. He told us to buckle up, it’s going to be a wild ride.
Fireside Chat with Peter Sinclair, CEO of beatBread
This fireside chat with Ishan and Peter Sinclair, CEO and co-founder of beatBread, explored the seismic shifts in the music industry brought on by the advent of streaming and social media. These changes have redefined the power dynamics among industry players, accelerated the long-term shift away from major labels, and created new opportunities for rethinking how the industry is financed.
Peter discussed how artists have long been at a disadvantage and how beatBread is leveraging these industry changes to empower them, putting the control and financial power back into the hands of the creators. It was a compelling conversation on how the music industry is evolving and the future of artist-focused finance.
From Setbacks to Success: The Making of a Gritty Founder
The day concluded with a panel moderated by Cutler Cook, which brought together Aditi Shekar (CEO and co-founder of Zeta), Chris Dean (CEO and co-founder of Treasury Prime), Manik Suri (CEO and founder of GlacierGrid), and Matheus Riolfi (CEO and co-founder of Tint). Together, they explored what it truly takes to navigate the highs and lows of startup life.
They discussed how founders are built from a unique blend of resilience and drive – driven by a need to solve a problem and serve their customers. The panelists also emphasized the importance of vision and leadership, especially when it comes to rallying a team through the challenges that come with building something from the ground up. Their stories highlighted the grit and determination needed to turn setbacks into stepping stones for success.
This year’s AGM was a celebration of the principles that define Deciens and the community that drives our success. As we look ahead, we remain committed to building sustainable, high-impact businesses together.
