When evaluating a venture capitalist’s request for a new fund, obviously a performance track record [...]Continue
Engineering Capital unveiled a $32 million seed fund on Tuesday that will target data center [...]Continue
August Capital has set out to raise a $450 million seventh fund, while Blumberg Capital, [...]Continue
Cendana Capital has closed on a new $50 million fund of funds and raised money for a direct investment fund, Managing Partner Michael Kim said. The new fund, Cendana Capital II, is a step up from Cendana’s first fund, which was $28.5 million.Continue
The University of Texas Investment Management Company’s venture portfolio includes bets on recent funds from [...]Continue
For your midweek morning news update, First Read brings you the latest on PE's dry [...]Continue
Fund of funds Cendana Capital II seeks $30 million; direct investment fund seeks $25 million.Continue
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.Continue
Cendana Capital has closed on $60 million of capital for its seed-based fund of funds, [...]Continue
Cendana Capital has kicked off its efforts to raise a $100 million fund, according to a filing with the Securities and Exchange Commission. The filing lists Michael Kim, a former partner at Rustic Canyon Partners, as director of the fund. Kim has described his San Francisco-based firm as a fund of fund that invests in […]Continue
In this week’s Social Scene, VCs and techies scramble for tickets to President Obama‘s town hall meeting at Facebook, Ryan McIntyre and Jason Mendelson are rocking a new band, David Hornik‘s son shows entrepreneurial fire at 13, Leglise, Higginbotham and Kim get ready to celebrate their birthdays, and lots of clever tweets.
OUT & ABOUT
The biggest news in Silicon Valley this week was President Obama’s town hall meeting yesterday at Facebook’s headquarters in Palo Alto. CEO Mark Zuckerberg donned a white dress shirt, tie and suit jacket for the occasion, but he couldn’t be talked out of wearing jeans and running shoes. (What is he, 12?) About 500 Facebook employees
Super angels have been super active over the past year. Now their business models will be put to the test, and a bloodletting of startups may be on the way. Both they and the new crop of micro-cap funds actively pursued seed and early stage opportunities in 2010. They funded scores of companies, including many […]Continue
Michael Kim announced this morning that he is leaving VC firm Rustic Canyon Partners, in order to launch a fund-of-funds shop called Cendana Capital.
“I look at this as moving up the food chain,” says Kim, who helped launch Rustic Canyon ten years ago. “I’ve really enjoyed by time as a venture capitalist, but now I’ll be able to invest in the best managers across a wider spectrum of investment strategies.”
Cendana will begin raising its inaugural fund-of-funds early next year, with a $250 million target. It will be opportunistic in terms of investments, with no pre-determined allocations.
“There are plenty of funds-of-funds focused on VC or focused on distressed, but we plan to be flexible and allocate on where we think the best opportunities are,” Kim explains. “If that means international early-stage, then that’s what we’ll commit to.”Continue