Albuquerque’s Deciens Capital closes $93 million fund

An Albuquerque-based venture capital firm, Deciens Capital, announced Tuesday it closed its third fund with $93 million.

The closure brings the firm’s total assets under management to $290 million.

Dan Kimerling founded Decients in 2017, envisioning “a new approach to venture capital,” he told the Journal. The firm has a concentrated portfolio, with 12-15 investments per fund, exclusively in the financial services category.

“That Venn diagram of early-stage concentration and financials puts us in a very unusual place,” Kimerling said. “And then the fact that we’re based in New Mexico, I think, adds another layer to it.”

Four of the firm’s seven employees are based in New Mexico.

“New Mexico is truly my home and the firm’s home,” Kimerling said.

Using Fund III, Deciens has already started making investments, including in Mexico lender Grupago, electricity trader Generous Energy and nontraditional mortgage lender June Point Lending, according to a news release.

The company will make up to 12 more commitments in this fund iteration. Kimerling said it typically takes three to four years to find the right investments, and the company has up to five years.

Notable investments from Deciens’ first two funds include money transfer service Chipper Cash and bank technology firm Treasury Prime.