The 10X Capital Podcast
The 10X Capital Podcast is a podcast that interviews the world's leading institutional investors. Previous guests include The Ford Foundation, Northwestern University Endowment, CalPERS, Stepstone, and other top limited partners.
E10: Michael Kim | Founder of Cendana Capital on How Small VC Funds Can Return 200X+
Michael Kim, founder and Managing Partner of Cendana Capital sits down with David Weisburd and Erik Torenberg to discuss his thesis of creating a fund of funds at seed stage, insights into the changing landscape of VC from the 90s to today, and whether VC should recycle capital. Cendana Capital has invested in Forerunner Ventures, K9 Ventures, and IA Ventures. If you’re ready to level-up your startup or fund with AngelList, visit https://www.angellist.com/tlp to get started.
Key Points
- Chris Sacca's first fund, lowercase 1, was $8 million in size and returned 204x, exemplifying how small funds can achieve substantial returns.
- Michael Kim emphasizes the importance of ownership in venture funds, advocating for smaller funds to maintain high ownership stakes for better potential returns.
- Sondana Capital's strategy includes investing heavily in pre-seed funds and being selective with seed funds, aiming for higher multiples from pre-seed investments and viewing them as the alpha in their portfolio.
Chapters
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| 2:15 | |
| 5:07 | |
| 7:30 | |
| 8:30 | |
| 13:15 | |
| 16:50 | |
| 17:55 | |
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| 23:17 | |
| 26:27 | |
| 33:11 | |
| 34:00 | |
| 41:00 | |
| 44:57 | |
| 49:00 |
Transcript
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