Cendana Capital announced the final close of a pair of seed-based fund of funds on Friday. The institutional seed investor now has raised $88.2 million and taken a position with nine investment partnerships. The final close announced Friday in a document filed with Securities and Exchange Commission was on $28.2 million raised by Cendana Capital L.P.
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Cendana Capital has closed on $60 million of capital for its seed-based fund of funds, according to a Securities and Exchange Commission filing.
Search engine company Blekko has raised $30 million in new funding, half of it coming from publicly traded Yandex. Australian investor MLC Private Equity, and existing investors U.S. Venture Partners, CMEA Capital and PivotNorth Capital also contributed to the round. Yandex acquired a minority stake in Blekko, the company said. Blekko was formed in 2007, and launched its search engine last year.
After 12 years at Sequoia Capital and U.S. Venture Partners, Tim Connors hung his own name on the door Monday as managing partner of a $35 million micro VC fund called PivotNorth Capital.
The fund took Connors two quarters and “25,000 miles of planes, trains, and automobiles” to raise, Connors wrote in a blog post.
Connors told peHUB in an interview that the micro model reminds him of the venture business 20 or so years ago, when the Sequoias and KPs were smaller shops with fewer partners and staff.
“I’m kind of going back to the tried and true business model,” he said. “There’s more than one way to be successful” in venture.