Transonic Combustion Closes $32m Series D

Transonic Combustion, a company focused on developing a high efficiency fuel injection system for internal combustion engines, has closed a $32 million Series D Round of funding. Founded in 2006, the company is backed by Venrock, Khosla Ventures, Rustic Canyon and Saints Capital. Transonic Combustion is headquartered in Camarillo, California.

Gaikai Raises 30M Round From NEA, Intel, Benchmark, Rustic Canyon

Gaikai said it raised a $30 million Series C round to continue the roll out of online gaming network. New Enterprise Associates led the round for the Los Angeles company and was joined by Qualcomm, Benchmark Capital, Rustic Canyon and Intel Capital. PRESS RELEASE Gaikai Raises $30M to Accelerate Availability of Interactive Cloud Gaming FOR […]

Rustic Canyon Responds: We’re Not Going Away; We Just Cleaned House

Last night, we reported that two members of Rustic Canyon’s team have recently parted ways with the firm, partners Mark Mennell and Michael Song. Given the tough fundraising environment, combined with lackluster returns and the additional departure last December of partner Michael Kim, who is now raising a fund-of-funds firm called Cendana Capital, we wondered […]


From GP to LP: “Moving Up The Food Chain”

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.”

PE Firms Buy Johnson Products Co.

Procter & Gamble Co. (NYSE: PG) has sold Johnson Products Co., a provider of African-American haircare products, to an investor consortium that includes Rustic Canyon/Fontis Partners and St. Cloud Capital. No financial terms were disclosed.

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