An operating and advisory house, built at the bench of one craft.
Patina owns and backs companies, and works beside the CEOs who run them. Founded by Chase Murdock in Salt Lake City.
Patina is the house for my life’s work: building companies that last.
Every craft I admire works the same way. You take a thing down to its raw ingredients and build it back up. Then you spend years refining it, long after most people would call it done. Keep at it long enough and the work takes on a patina, the finish only time and use can give.
Building companies is my craft, and I’ve been at it my whole working life.
I started my first company out of high school. We raised a few million dollars and grew to more than 50 people. Then, in a hard stretch, my board replaced me as CEO. Looking back, they were right. But it took me years to understand why.
I spent the next few years chasing moonshots: raising venture capital, going big, building to sell. I came to call it the arrival fallacy, trading today for an exit someday. I wanted a slower, more permanent way to build.
In 2016, my friend Adam and I started a small business with $750. It felt different from the start. It has been profitable every year since. We shaped it slowly and on purpose, and it got better each year. It paid for the next company. Then we acquired a third, and a fourth. That became Decada Group.
I’ve sat in the CEO’s chair. I’ve raised venture capital, and I’ve personally guaranteed debt. Across the 20+ companies I’ve started, acquired, or backed, I’ve hired the CEOs who run them, backed them, and sometimes replaced them.
I’ve been at the bench of three questions for most of my working life.
What makes a business worth backing?
Once you’re in it, how do you make it remarkable?
And what makes a great CEO, the person at the helm?
I’m not done answering any of them. Patina is the house where that work lives.
The work
- In the Business A stake, a board seat, or a standing role in businesses built to last. I invest my own capital: no fund, no clock.
- Beside the CEO CEO Counsel: a standing relationship with a small number of CEOs.
- The Seat Six months, one to one, on what separates good CEOs from great ones.
- Essays Working notes on the three questions.
- Decada Group The companies Adam and I own and run outright.