# Cendana Capital

> Cendana Capital is a San Francisco investment manager founded by Michael Kim in 2010. It invests primarily in seed and pre-seed venture funds worldwide, providing institutional investors access to small specialist managers, alongside selective co-investments and a venture secondaries partnership with Kline Hill Partners.

- **Founded:** 2010
- **Headquarters:** San Francisco, United States
- **Founders:** Michael Kim (Founder)
- **Products:** Core fund commitments, Discovery commitments, Cendana 6, Managed accounts, Co-investments
- **Notable:** Built a specialist early-stage fund-investing business from a $28.5 million debut pool., Announced approximately $470 million across investment strategies in September 2023., Cendana 6 was described as its fastest fundraise at the March 2025 announcement.

## Products & services

- **Core fund commitments** — Primary commitments to seed and pre-seed venture funds; the firm publicly describes typical Core checks of $10 million to $20 million.
- **Discovery commitments** — Smaller fund positions used to develop relationships and evaluate strategies; the 2025 announcement consolidated the former Nano and Pilot programs under Discovery.
- **Cendana 6** — Fund-of-funds focused on sub-$100 million seed and pre-seed funds, integrating U.S. and international fund investing.
- **Managed accounts** — Customized capital pools investing within the broader Cendana network; $200 million across two accounts announced in March 2025.
- **Co-investments** — Selective direct investments in later-stage companies originating in portfolio funds.
- **Kline Hill Cendana secondaries** — Joint strategy acquiring existing venture fund interests and company shares; second fund closed at $400 million in April 2026.
- **Manager and LP support** — Portfolio construction advice, introductions, events, data analysis and market commentary for fund managers and limited partners.

## Achievements

- Built a specialist early-stage fund-investing business from a $28.5 million debut pool.
- Announced approximately $470 million across investment strategies in September 2023.
- Cendana 6 was described as its fastest fundraise at the March 2025 announcement.
- Kline Hill Cendana Partners Fund II closed at its $400 million hard cap in April 2026, above a $300 million target.
- Current company website reports $2.7 billion-plus AUM, 6,000-plus underlying companies and 200-plus unicorns; these figures do not represent cash distributions.

## Latest updates

- **2026-10** — Company news page lists an October 13 SuperReturn podcast on the venture math behind AI’s consensus trade.
- **2026-08** — Company news page lists an August 12 Swimming with Allocators episode about data, judgment and early-stage venture.
- **2026-04** — Kline Hill announced the $400 million hard-cap close of its second Cendana venture secondaries fund.
- **2025-03** — Cendana 6 announcement integrated non-U.S. investing, renamed Nano and Pilot positions Discovery, and announced $200 million for two managed accounts.

## Links

- Website: https://www.cendanacapital.com/
- LinkedIn: https://www.linkedin.com/company/cendana-capital/
- Twitter/X: https://x.com/CendanaCapital
- Facebook: https://www.facebook.com/CendanaCapital

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Profile page: https://yespress.io/cendana-capital
Published by YesPress — https://yespress.io
Last updated: 2026-10-27