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How I Raised It - The podcast where we interview startup founders who raised capital.
Ep. 209 How I Raised It With Michael Kim of Cendana Capital
Aug 4, 2021
Michael Kim, founder of Cendana Capital, discusses the intricacies of early-stage venture investing. He shares his journey from a diplomatic career to establishing a fund of funds, emphasizing the evolution of the VC landscape. Kim provides insights on what he seeks in emerging VCs and offers tips for new fund managers under fundraising pressure. The conversation highlights the rise of pre-seed funds and the essential traits of successful fund managers, including the significance of adaptability and founder experience.
34:58
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Quick takeaways
- Michael Kim's founding of Cendana Capital reflects a strategic pivot from a diplomatic career to seeding investments in emerging venture firms.
- The launch of the $30 million Nano Fund aims to capitalize on the promising returns from smaller, first-time funds led by experienced operators.
Deep dives
Overview of Sandana Capital
Sandana Capital is an investment management firm founded by Michael Kim, managing approximately $1.4 billion. The firm operates primarily as a fund of funds, which raises capital to invest in seed-stage venture capital firms globally. Kim emphasizes the unique opportunity of focusing on this early-stage investment sector, noting that it has become increasingly attractive as the cost of starting a company has significantly decreased. Alongside its fund of funds strategy, Sandana also makes direct investments in select portfolio companies, showcasing its dual approach to venture capital.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode