Cendana Capital raises $260 mln for five funds

Cendana Capital has raised $260 million of fresh capital for fund of funds and direct investing, the firm said.

The firm raised $80 million for Cendana Capital 3, a fund of funds, and received an additional $60 million from the University of Texas Investment Management Company for its Cendana Co-Investment Fund. The UTIMCO investment closed in October 2016.

In addition, Cendana Blackbird, an overage fund, raised $75 million. The fund invests in portfolio funds where the firm can get additional allocation. The fund has an unnamed corporate pension fund as its sole LP.

In terms of direct investing, the firm raised $35 million for its Cendana Investments 2 and $10 million for Cendana Kendall. Cendana Kendall is for late-stage direct investment and closed in January with a family office is its sole LP

The firm was founded by Michael Kim and has invested in seed funds, including SoftTech VC, IA Ventures, Freestyle Capital, K9 Ventures and Lerer Hippeau Ventures.