Balanced News: Exclusive: Cendana Capital closes on $470M more to back seed-stage fund managers

Cendana Capital, led by Michael Kim, has closed on $470 million in new funds, bringing the firm’s total assets under management to approximately $2 billion. The largest pool of funds, $340 million, will be invested in US-based investors, while $67 million will go to managers outside the US. Cendana also has $30 million in capital commitments to invest directly in startups and $30 million from the University of Texas. Kim discusses the current market and the strategy for Cendana’s newest flagship fund, mentioning the changing landscape of seed-stage venture capital.