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Michael Kim

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@MKRocks

Founder of @CendanaCapital
San Francisco, California cendanacapital.com Joined February 2008
4.6K Following 8.2K Followers 2.7K Posts

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Michael Kim Verified account @MKRocks
Today, we are announcing our new fund, @CendanaCapital 6. It was our fastest fundraise ever, and had interest well above our $400M hard cap. We added a handful of new institutional LPs–including for the first time, 2 public pension funds. We are particularly keen that a number of our LPs are mission driven–they are the financial engines for a number of world-class educational and not-for-profit organizations, and of course, public pension funds that provide the retirement benefits to their members. We are grateful for the trust and support of our LPs!

Armed with the pattern recognition built over the past 15 years, and the willingness to be both creative and open to refining our approach, we are super excited about the opportunities over the next few years. Chaos is a ladder–for most people, chaos leads to confusion, inaction and ultimately failure. If we remain clear-eyed about our mission, execute accordingly and become true partners along the way to our LPs and to our GPs, we are confident that we can lead the way.

More detail here about our focus:

medium.com/@CendanaCapita…
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Michael Kim Verified account @MKRocks
Ali is a legend and his stories over the years about painful lessons is remarkable.
Ali Partovi Verified account @apartovi Oct 3
I'm starting a podcast, "Confession," where I invite tech veterans to share their painful lessons.

We all connect through shared pain. Hear founders & CEOs like Satya Nadella (Microsoft), Dara Khosrowshahi (Uber), Luana Lopes Lara (Kalshi), and others share their stories and lessons learned.

Subscribe to Confession on...
✅ Spotify: open.spotify.com/show/6x2J7r97U…
✅ Youtube: youtube.com/watch?v=sd5spH…
✅ Apple: podcasts.apple.com/us/podcast/con…

@SatyaNadella @Dkhos @luanalopeslara
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Michael Kim Verified account @MKRocks
We at @CendanaCapital get asked about portfolio construction by seed GPs, particularly around valuation discipline. I think LPs will want to see that the GP can identify non-consensus founders who ultimately build (and exit) consensus companies AND have access to exceptional founders at consensus valuations (and exits). These are basically the 2 buckets of founders within portfolio construction, and we believe most of the capital should go to the first bucket, but not to ignore the second.  Being overly rigid about check size and ownership creates adverse selection issues.