Derrick Li

My goal when I became a full time investor was to be the type of partner I would have most wanted during my time building a company: someone who had done the work I was doing before, who had the network to help me reach my goals faster, and who had my back no matter what. I’m really happy to share that we’ve raised Alt Cap II, a $275M early stage fund. We backed ~20 companies at Seed and Series A in Alt Cap I. The new fund will be the same structure with a bit larger checks. But mostly we just want to be in business with people who inspire us. There’s no way to say it without sounding cheesy but it’s true; I feel unbelievably lucky to do this job in the way I get to do it. A special thanks to the founders that let us back them in Alt Cap I, you all are what it’s all about for me!

Dear friends, I am incredibly honored to finally unveil what we've been working on in stealth: Accordance. When Finsam and I first started our journey bringing AI out of the research lab, we discovered an industry filled with some of the most thoughtful, principled professionals we'd ever met: tax and accounting practitioners who became our teachers, our guides, and ultimately our partners. As our entire team spent thousands of hours over the last few years climbing the learning curve, what we've discovered is that we're solving something much bigger than we initially realized. We began to see what keeps everyone up at night, and it wasn't what we expected. 75% of senior accounting professionals are retiring in the next decade, with only a 50% replacement rate. Meanwhile, regulations multiply and edge cases explode in complexity. The profession isn't just facing a labor shortage - it's facing an expertise crisis. That's when it clicked - our mission at Accordance matters more than we ever imagined. Most people think "AI for accounting and tax" means automating routine work - but we're doing the opposite. We're building the smartest tax & accounting AI that can handle the most sophisticated advisory work - the stuff that normally takes decades of experience. It's letting junior staff punch way above their weight and giving seasoned experts superpowers they've never had. We're not replacing professionals; we're amplifying their expertise at the exact moment the profession needs it most. The outcomes we're seeing are remarkable. But none of this would have been possible without our world-class team that sharpens iron with iron, our supporters who've been with us every step of this journey, and every professional who opened their doors and trusted us with their most complex challenges. We're grateful to have you on this mission with us.