Cendana Capital Closes on $60M for Its Seed Based Fund of Funds


Cendana Capital has closed on $60 million of capital for its seed-based fund of funds, according to a Securities and Exchange Commission filing.

The firm also disclosed recently that is has invested in K9 Ventures’ newly announced $40 million seed fund.

Cendana founder and Managing Partner Michael Kim set out early this year to raise $100 million for his institutional seed fund investing, according to an SEC filing at the time. Monday’s filing under the name Cendana Co-Investment Fund shows he is more than halfway to that goal.

Kim, formerly with Rustic Canyon Partners, declined to comment for this article.

In the past, he has said he sees a return-to-basics opportunity in seed investing, harkening back to a time when firms such as Accel Partners and Greylock Partners raised smaller funds and took small equity stakes in capital-efficient companies.

Cendana has said in the past that it is an LP in funds from Roger Ehrenberg’s IA Ventures, Tim Connors’ PivotNorth Capital and Freestyle Capital managed by Josh Felser and Dave Samuel.

Here is a link to Monday’s filing.

Photo of Michael Kim courtesy of Mark Boslet.

Fundraising? Then you don’t want to miss EMERGING MANAGER CONNECT in NYC on Jan. 24. This event is packed with 100+ LPs managing more than $45 billion devoted to emerging managers combined. Details are here: http://bit.ly/2ed5fcM

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