As the venture capital landscape continues to evolve, one name that consistently comes up as a go-to for emerging seed-stage fund managers is Michael Kim of Cendana Capital. With a 13-year track record and a reputation for backing successful VC teams, Cendana has become a leading player in the industry.
Cendana’s Latest Fund Raise
In a recent interview with TechCrunch, Kim revealed that Cendana has just closed on $470 million across several new funds, bringing the firm’s total assets under management to approximately $2 billion. The largest pool of funds, worth $300 million, will be allocated towards seed-stage investments in the US and Europe.
A Brief History of Cendana Capital
Founded in 2010 by Michael Kim, Cendana Capital has established itself as a trusted partner for emerging VC teams. With a focus on seed-stage investing, Cendana has backed some of the most successful startups in the industry, including companies like Airbnb and Stripe.
The Benefits of Seed-Stage Investing
According to Kim, seed-stage investing offers a unique opportunity for venture capital firms to get in on the ground floor with promising startups. "Seed-stage investing allows us to identify talented founders and invest in their ideas before they gain traction," he explained.
Part-Time VCs: A New Breed of Venture Capitalists
One notable trend in the industry is the emergence of part-time venture capitalists, such as Mark Ghermezian, who founded a debut fund backed by Cendana in May. As Kim noted, "Founders with side funds are becoming increasingly popular among institutional LPs."
The Leverage of Institutional Investors
With money in shorter supply, institutional investors like Cendana have more leverage than ever before when negotiating terms with their venture managers. However, as Kim emphasized, "We’re not asking for any special terms or conditions. We believe that fund managers who offer these concessions are sending a negative signal."
Cendana’s Approach to Venture Capital
So what sets Cendana apart from other venture capital firms? According to Kim, it’s the firm’s commitment to backing emerging VC teams and investing in seed-stage startups. "We’re not just looking for the next big thing," he said. "We’re committed to supporting talented founders and helping them build successful companies."
The Future of Venture Capital
As the venture capital landscape continues to evolve, one thing is clear: Cendana Capital is a force to be reckoned with. With its latest fund raise and commitment to seed-stage investing, the firm is poised to play an increasingly important role in the industry.
Key Takeaways
- Cendana Capital has raised $470 million across several new funds.
- The largest pool of funds will be allocated towards seed-stage investments in the US and Europe.
- Michael Kim believes that seed-stage investing offers a unique opportunity for venture capital firms to get in on the ground floor with promising startups.
- Part-time VCs, such as Mark Ghermezian, are becoming increasingly popular among institutional LPs.
- Institutional investors like Cendana have more leverage than ever before when negotiating terms with their venture managers.
About the Author
Michael Kim is a seasoned venture capitalist and founder of Cendana Capital. With over 13 years of experience in the industry, Kim has established himself as a trusted partner for emerging VC teams and a leader in seed-stage investing.
