StrictlyVC Download cover image

StrictlyVC Download

LP Michael Kim on Why He Doesn't Like Special Deals

Sep 9, 2023
Michael Kim, Investor at Cendana Capital, discusses travel plans, shifts in the seed stage venture landscape, the role of secondary markets, challenges faced by founders-turned-VCs, and negotiating better terms between LPs and venture fund managers.
27:05

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Despite the changing landscape of seed stage venture, Sandana Capital has adapted its investment approach to stay competitive and has seen success in generating significant returns for its investors.
  • Increased competition in the seed stage space has led to a shift in seed round sizes and composition, with larger initial investments from multi-stage firms and a focus on hands-on support from seed funds.

Deep dives

Fund of funds investing in seed stage funds

Michael Kim is the founder of Sandana Capital, a fund of funds that primarily invests in seed stage funds. Sandana Capital has recently raised $470 million across four different pools, including a flagship US fund, an international fund, a small co-investment fund, and a managed account with the University of Texas. Despite the changing landscape of seed stage venture, with larger fund sizes and increased competition, Sandana Capital has adapted its investment approach to stay competitive and has seen success in generating significant returns for its investors.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner