E1075: Cendana Capital’s Michael Kim on investing in Seed funds as a serial LP, Robinhood as an acquisition target, greatest Seed funds of all time & more

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 16 June 2020

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

0:38 Jason talks about the now fully-virtual LAUNCH Accelerator and intros Cendana Capital's Michael Kim
2:47 What is a fund of funds & why do they exist? History of raising Cendana's first fund
6:06 Portfolio construction of fund of funds
10:19 Why ownership percentage is paramount, ideal ownership % for Seed funds, what makes a great Seed fund manager
17:04 How do fund of funds make money?
18:51 Hedging bets by selling secondary shares to generate liquid cash for LPs
24:33 Michael on Call of Duty, using secondary shares to win a deal
30:46 What was the greatest Seed fund ever raised?
32:42 What is the ideal number of managers in a Seed fund?
36:38 What has the last 90 days been like for Cendana? Influx of new fund managers into the market
41:50 How fast is Cendana in making decisions compared to institutional LPs?
44:47 Will there be a wave of white-collar layoffs, and how will COVID change large tech companies?
52:29 Writing small "pilot" checks over Zoom, venture/growth fund deployment, which companies in non-obvious markets will come out of COVID in great shape?
1:03:37 Robinhood as an acquisition target (Should Facebook buy it?), Dropbox/Slack merger
1:06:17 Why right now is the best time to invest in the early-stage

Transcript

Click on a timestamp to play from that location

0:00.0	This Week in Startups is brought to you by Clavio helps brands build relationships across any distance,
0:08.0	delivering email marketing moments your customers will appreciate, remember, and share in good times and bad.
0:16.0	Visit clavio.com slash twist today to start your free trial. That's K-L-A-V-I-Y-O-D-O-G-G-O-G-G-O-G-G-T-G-T-T-A-V-I-Y-O dot com slash Twist and Fiver.
0:28.6	Find the perfect freelance services for your business.
0:31.6	Go to Fiver.com and use code twist to receive 10% off your first
0:37.4	order.
0:38.4	Hey everybody, hey everybody, welcome to another episode of this week in startups.
0:41.8	I'm your host, Jason Calicanus and Angel investor here in the Silicon Valley.
0:46.3	If you'd like to apply to our accelerator, it has now moved to virtual, which means over four months and about 20 sessions we introduce you to over 500 investors. They hear your pitch and then you contact them and hopefully that's the top of your funnel with no work on your part. The only work you have to do is really
1:04.3	build a great business that grows 10, 20% month over month and then meet those investors
1:09.6	enclose in a round of investing. And it's now all virtual. you can apply at launch.
1:14.3	co slash apply if you want to come to the accelerator if you got a great idea anytime you can
1:20.5	DM me on Twitter I'm at Jason and you can email me
1:22.8	Jason at calicanus.com my guess today is the man behind a lot of the seed
1:28.7	funds you've heard of he runs something called sendana, how do you pronounce it?
1:35.0	Sendana.
1:36.0	Sendana.
1:37.0	It's a Malaysian word for Sandalwood.
1:40.0	Sandalwood, Sendana.
1:42.0	And his name is Michael Kim.
1:44.0	Welcome to the program finally.
1:46.6	Thank you.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jason Calacanis, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jason Calacanis and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.