How I Invest with David Weisburd E10: Michael Kim | Founder of Cendana Capital on How Small VC Funds Can Return 200X+
Sep 18, 2023
Michael Kim, founder of Cendana Capital, discusses his thesis on creating a fund of funds at seed stage, insights into the changing landscape of VC, and whether VC should recycle capital. They explore the success of small VC funds, the challenges of scaling funds, and the economic trade-offs for different fund sizes.
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Lowercase Capital's Success
- Chris Sacca's first fund, Lowercase Capital, saw a 204x return on an $8 million investment.
- Small funds can generate substantial returns, proving their potential for high-yield investments.
K9 Ventures' Success
- Manu Kumar's $6 million K9 Ventures fund achieved a remarkable 100x return.
- This further emphasizes the potential of small VC funds to deliver substantial returns.
Cendana's Nano Program Investment
- Cendana Capital invested $1 million in Nicole Wischoff's $5 million fund and later anchored her $20 million fund with $4 million.
- This demonstrates Cendana's Nano program strategy of supporting emerging managers from early stages.