# Deciens Capital
Deciens Capital is a venture capital firm based in [Albuquerque, New Mexico](https://www.edgepedia.org/albuquerque-new-mexico), that invests exclusively in early-stage financial-services (fintech) companies in the United States, Latin America, and Africa. It was founded by Dan Kimerling; a Delaware entity named Deciens Capital, LLC first filed with the SEC in 2012, while the firm itself dates its founding to 2017. Across four SEC-filed funds through 2024 it reported roughly $164.5 million sold, and in August 2025 it announced the close of Fund III at $93.33 million, which it said brought total assets under management to $290 million.
| Fact | Detail |
|---|---|
| Firm | Deciens Capital, venture capital manager focused on fintech |
| Headquarters | 933 San Mateo Boulevard NE, Albuquerque, New Mexico (earlier San Francisco)[1](https://www.sec.gov/Archives/edgar/data/1828863/0001828863-22-000001.txt) |
| Founding | Delaware entity formed 2012; firm states it was founded in 2017 by Dan Kimerling[2](https://www.sec.gov/Archives/edgar/data/1557208/0001557208-12-000001.txt) • [3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) |
| Partners | Daniel Kimerling (Founder and Managing Partner), Ishan Sachdev (General Partner), Vishal Rana (Partner, Portfolio & Operations); Aelin Kim is CFO[4](https://www.privateequityinternational.com/institution-profiles/deciens-capital.html) • [3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) |
| SEC-filed amounts sold | About $164.5 million across four Form D fund filings, 2012 to 2024[2](https://www.sec.gov/Archives/edgar/data/1557208/0001557208-12-000001.txt) • [5](https://www.sec.gov/Archives/edgar/data/1728793/0001728793-19-000001.txt) • [1](https://www.sec.gov/Archives/edgar/data/1828863/0001828863-22-000001.txt) • [6](https://www.sec.gov/Archives/edgar/data/1956532/0001956532-24-000001.txt) |
| Notable portfolio | Chipper Cash, Treasury Prime (Funds I and II); Grupago, Generous Energy, June Point Lending (Fund III)[7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141) |
| Status | Active, still creating new investment vehicles as of late 2024 and closing Fund III in 2025[8](https://www.sec.gov/Archives/edgar/data/2045804/0002045804-24-000001.txt) • [3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) |
## History and people
The first SEC filing under the Deciens name came on September 19, 2012, when Deciens Capital, LLC, a Delaware LLC based at 267 Dorland Street in San Francisco, filed a Form D for a $150,000 offering described as a private equity fund. Daniel Kimerling and Zachary Townsend were listed as its Managing Members.[2](https://www.sec.gov/Archives/edgar/data/1557208/0001557208-12-000001.txt) The firm itself, however, states it was founded in 2017 by Kimerling, and the Albuquerque Journal and Private Equity International both record 2017 as the founding year.[3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) • [7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141) • [4](https://www.privateequityinternational.com/institution-profiles/deciens-capital.html) The 2012 entity and the 2017 founding claim have not been reconciled in any source.
Zachary Townsend, a fintech founder, co-managed the early vehicles: he and Kimerling were named as Managing Members of the General Partner on the Fund 2018 filing, which was then based at 1459 18th Street in San Francisco.[5](https://www.sec.gov/Archives/edgar/data/1728793/0001728793-19-000001.txt) By the Fund 2020 filing the firm had moved to Albuquerque, and Kimerling signed alone as Managing Member of the General Partner.[1](https://www.sec.gov/Archives/edgar/data/1828863/0001828863-22-000001.txt) The Fund 2023-A filing added Ishan Sachdev alongside Kimerling as Managing Members of the General Partner.[6](https://www.sec.gov/Archives/edgar/data/1956532/0001956532-24-000001.txt) Private Equity International lists Kimerling as Founder and Managing Partner (Albuquerque), Sachdev as General Partner (Boston), and Aelin Kim as Chief Financial Officer.[4](https://www.privateequityinternational.com/institution-profiles/deciens-capital.html) In 2025 the firm promoted Vishal Rana to Partner, Portfolio & Operations, its third partner.[3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii)
## Investment strategy
The firm describes its approach as "Concentrated Conviction": it invests only in early-stage financial services and has historically added about three new portfolio companies per year.[9](https://deciens.com/press-and-insights/how-we-partner) Each fund holds roughly 12 to 15 companies, and Fund III is expected to back 12 to 15.[7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141) • [10](https://vcwire.tech/2025/08/06/deciens-capital-closes-fund-iii-at-93-33m/) Trade press reports that Deciens invests mainly at seed and Series A across the US, Latin America, and Africa, in categories from core banking and embedded finance to lending, insurance, and compliance, leading or co-leading rounds with ownership targets of 10 to 20 percent and up to 50 percent of fund size reserved for follow-ons; Fund III is to be deployed over two to three years.[11](https://techfundingnews.com/deciens-capital-closes-93m-fund-iii-doubling-down-on-fintech-innovation-across-emerging-markets/)
Alongside its funds, the firm has filed single-company special-purpose vehicles, including Deciens Chipper Cash SPV V-B, LLC in 2022,[12](https://www.sec.gov/Archives/edgar/data/1924896/000192489622000001/xslFormDX01/primary_doc.xml) and a Sydecar-based SPV that reported a fully sold $2.32 million offering in November 2024.[8](https://www.sec.gov/Archives/edgar/data/2045804/0002045804-24-000001.txt)
## Funds raised
The SEC Form D record, fund by fund:
- **Deciens Capital, LLC** (2012): a $150,000 offering, the firm's first filing.[2](https://www.sec.gov/Archives/edgar/data/1557208/0001557208-12-000001.txt)
- **Deciens Capital Fund 2018, L.P.**: a $80 million total offering with $13.5 million sold at its last amendment and 39 investors.[5](https://www.sec.gov/Archives/edgar/data/1728793/0001728793-19-000001.txt)
- **Deciens Capital Fund 2020, L.P.**: a $97.09 million total offering with $87.09 million sold as of the February 2022 amendment, with 146 investors.[1](https://www.sec.gov/Archives/edgar/data/1828863/0001828863-22-000001.txt)
- **Deciens Capital Fund 2023, L.P. / Fund 2023-A, L.P.**: a combined $125 million offering across coincident offerings, with $63.795 million sold as of the June 2024 amendment and 30 investors in Fund 2023-A.[6](https://www.sec.gov/Archives/edgar/data/1956532/0001956532-24-000001.txt)
- **Fund III** (announced August 2025): $93.33 million in limited partner commitments, per the firm's own announcement; the Albuquerque Journal independently reported the roughly $93 million close.[3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) • [7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141) • [10](https://vcwire.tech/2025/08/06/deciens-capital-closes-fund-iii-at-93-33m/)
Summed across the Form D filings, amounts sold total about $164.5 million. Form D figures are amounts sold at the last amendment, not necessarily final closes, so final commitment sizes may differ.
## Portfolio and exits
The firm's best-known investments from its first two funds are the money transfer service [Chipper Cash](https://www.edgepedia.org/chipper-cash) and the bank technology firm Treasury Prime.[7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141) Fund III's disclosed investments are the Mexico-based lender Grupago, the electricity trader Generous Energy, and the nontraditional mortgage lender June Point Lending, plus one stealth company.[3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) • [7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141)
In its own newsletter the firm said it stopped investing out of Fund 2 in late 2022 to hold reserves for companies showing signs of being breakout winners, and that as of May 2024 two of Fund 2's 11 companies had produced run-rate revenues.[13](https://deciens.com/press-and-insights/epistula-7-concentrated-conviction) No exits, DPI, or IRR figures appear in public sources.
## Performance claims and how it compares
According to the firm's Fund III announcement, both Funds I and II are top-quartile by TVPI, and Fund I ranks top-decile for its 2018 vintage against a top-decile benchmark of 2.29x TVPI (top quartile 1.76x) as of Q1 2025; it does not disclose its own DPI or IRR.[3](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii) Trade press repeated these claims and added that the firm says its DPI and IRR are above peer benchmarks, with specific numbers kept confidential.[11](https://techfundingnews.com/deciens-capital-closes-93m-fund-iii-doubling-down-on-fintech-innovation-across-emerging-markets/) These are self-reported figures against third-party benchmark data; no independent performance record is available.
Strategically, the firm is unusually small and concentrated for its fund sizes: three partners and a CFO are on record, roughly a dozen or so investments per fund, and one sector only, which distinguishes it from fintech seed funds that spread across dozens of positions.[4](https://www.privateequityinternational.com/institution-profiles/deciens-capital.html) • [9](https://deciens.com/press-and-insights/how-we-partner) Kimerling told the Albuquerque Journal that being based in [New Mexico](https://www.edgepedia.org/new-mexico) "adds another layer" to the firm's unusual positioning.[7](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141)
## References
1. [SEC Form D — Deciens Capital Fund 2020, L.P. (amendment, 2022-02-11)](https://www.sec.gov/Archives/edgar/data/1828863/0001828863-22-000001.txt)
2. [SEC Form D — Deciens Capital, LLC (2012-09-19)](https://www.sec.gov/Archives/edgar/data/1557208/0001557208-12-000001.txt)
3. [Announcing the Close of Fund III — Deciens Capital](https://deciens.com/press-and-insights/announcing-the-close-of-fund-iii)
4. [Deciens Capital — Private Equity International Institution Profile](https://www.privateequityinternational.com/institution-profiles/deciens-capital.html)
5. [SEC Form D — Deciens Capital Fund 2018, L.P. (amendment, 2019-02-14)](https://www.sec.gov/Archives/edgar/data/1728793/0001728793-19-000001.txt)
6. [SEC Form D/A — Deciens Capital Fund 2023-A, L.P. (2024-06-07)](https://www.sec.gov/Archives/edgar/data/1956532/0001956532-24-000001.txt)
7. [Albuquerque's Deciens Capital closes $93 million fund — Albuquerque Journal](https://www.abqjournal.com/business/albuquerques-deciens-capital-closes-93-million-fund/452141)
8. [SEC Form D — Deciens Sydecar SPV I a Series of CGF2021 LLC (2024-11-18)](https://www.sec.gov/Archives/edgar/data/2045804/0002045804-24-000001.txt)
9. [How We Partner — Deciens Capital](https://deciens.com/press-and-insights/how-we-partner)
10. [Deciens Capital Closes Fund III, at $93.33M — VCWire (2025-08-06)](https://vcwire.tech/2025/08/06/deciens-capital-closes-fund-iii-at-93-33m/)
11. [Deciens Capital closes $93M Fund III — TechFundingNews](https://techfundingnews.com/deciens-capital-closes-93m-fund-iii-doubling-down-on-fintech-innovation-across-emerging-markets/)
12. [SEC Form D — Deciens Chipper Cash SPV V-B, LLC (2022-04-21)](https://www.sec.gov/Archives/edgar/data/1924896/000192489622000001/xslFormDX01/primary_doc.xml)
13. [Epistula #7: Concentrated Conviction — Deciens Capital](https://deciens.com/press-and-insights/epistula-7-concentrated-conviction)
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Venture capital firms of the Americas › Fintech and financial services investors*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license