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Digital Media Concepts/Samir Vasavada

Samir Vasavada is an Indian-American entrepreneur and the co-founder and CEO of Vise, a fintech company that utilizes artificial intelligence to assist independent financial advisors in managing and optimizing portfolios tailored to the client’s needs. He co-founded Vise with Runik Mehrotra and was able to value Vise at over $1 billion at the age of 25. Vise continues to gain more recognition for its innovations in leveraging AI to modernize the wealth management industry.

Samir Vasavada

Early life

Childhood

Vasavada grew up in a traditional Indian-American family in Cleveland, Ohio.[1] His passion and enthusiasm for building were deeply influenced by Steve Jobs. He found inspiration from the release of iPhone and Jobs’ biography from a book written by Walter Isaacson.[2]

Business Career

At 13, he met his future co-founder, Runik Mehrotra, at a summer research program at Northwestern University.[1] Together, they worked on AI-driven projects, which led to the establishment of a business focused on app development. Vasavada and Mehrotra launched their first startup in their teenage years to develop iPhone apps automatically based on their inputs through artificial intelligence. Although the project was a technical challenge at that time, they encountered a unique opportunity to consult major investment banks about AI applications with machine learning. At 15 years old, Vasavada and Mehrotra developed their prototype to sell it to major financial institutions, laying the foundation for what would later become Vise.

During the Detroit startup week, Vasavada and Mehrotra pitched their AI-driven investment automation proposal to JPMorgan Chase CEO Jamie Dimon. However, the CEO rejected their proposal with a firm belief that his company had enough technological capabilities. Dimon’s advice led them to realize the growing market of independent financial advisors who lacked advanced software solutions, inspiring the vision for Vise. Vasavada left school in his junior year and relocated to the Bay Area to focus on developing his business as he aimed to fulfill the startup opportunity.[2]

Vise

Co-founded Vise in 2016, Vasavada faced significant challenges in securing funding. He was cold-calling and emailing hundreds of investors between the ages of 16 and 19 but faced continuous rejections in the end. His co-founder, Runik Mehrotra, chose to enroll at the University of Pennsylvania during this period, which threatened their startup’s future. Vasavada fought to preserve their startup’s progress by moving into Mehrotra’s dormitory to persuade him to leave his studies after promising to secure $1 million before he dropped out of school. Vise secured its first investment with Nat Turner and Zach Weinberg, co-founders of Flatiron Health, who believed in their vision despite the risks. Turner and Weinberg invested $100,000 into Vise, which enabled the startup to keep growing until Founders Fund delivered their $2 million seed funding. After securing their first investment, Mehrotra dropped out and decided to move to the Bay Area to officially launch Vise in 2019.[2]

With the mission to empower financial advisors with capable technology and tools to be effective investment resources for their clients, Vasavada and Mehrotra successfully expanded Vise, raising the total capital to over $125 million by May 2021. The funding comprised a $14.5 million Series A round in May 2020 and a $45 million Series B round led by Sequoia Capital in December 2020, and the $65 million Series C round with Ribbit Capital in May 2021.[3][4][5] In 2022, the two co-founders of Vise decided to restructure the company to refocus on its core and long-term sustainability. As part of the reset, Vise reduced its workforce, shifted to an in-office work model, streamlined operations, and reinforced a customer-centric culture, leading to the company’s improved efficiency and product development.[6]

In October 2024, Vise announced its partnership with Stamford, CT-based firm, New Edge Wealth. With New Edge’s wealth management and Vise’s technology, this collaboration aims to deliver personalized tax-efficient portfolios for clients at scale.[7]

Vise Intelligence

In September 2023, Vasavada announced the launch of Vise Intelligence, an AI-powered interface designed to enhance financial advisors’ “operational efficiency and client communication”. Vise Intelligence uses portfolio integration with its large language models to process information from trading and client preferences alongside investment strategies and portfolio data. AUM firm Hexagon praised the features of Vise Intelligence for streamlining advisory workflows and improving decision-making for clients.[8]

Publicity

The successful startup story of Vise was covered in major publications like Fortune and the Wall Street Journal. In 2021, Vasavada and Mehrotra were included in the 2021 North America edition of the Forbes 30 Under 30 list.[9]

References

  1. 1 2 "Founding Story | Vise". vise.com. Retrieved 2025-03-29.
  2. 1 2 3 LinDane. "From High School Dropout To Entrepreneurial Sensation - Samir Vasavada's $1B Story". lindane.co. Retrieved 2025-03-29.
  3. ↑ Vise. "Vise Raises $65 Million in Series C Round". www.prnewswire.com. Retrieved 2025-03-29.
  4. ↑ Vise. "Vise Raises $14.5 Million in Series A Funding Led by Sequoia Capital". www.prnewswire.com. Retrieved 2025-03-29.
  5. ↑ Vise. "Vise, The AI-powered Investment Management Platform, Secures $45 Million Series B Funding Led By Sequoia". www.prnewswire.com. Retrieved 2025-03-29.
  6. ↑ Vasavada, Samir (2023-03-03). "Refounding Vise". Medium. Retrieved 2025-03-29.
  7. ↑ Vasavada, Samir (2024-10-21). "Vise Partners with $55B NewEdge to Deliver Personalized Portfolios at Scale". Medium. Retrieved 2025-03-29.
  8. ↑ Vasavada, Samir (2023-09-28). "The Next Step in Wealth: Bringing AI to Financial Advisors with Vise Intelligence". Medium. Retrieved 2025-03-29.
  9. ↑ "Forbes 30 Under 30 2021: Youngest". Forbes. Retrieved 2025-03-29.
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