Cendana and Kline Hill raised $400M for their second VC secondaries fund (KHCP Fund II), more than tripling the size of Fund I ($105M). The fund acquires LP interests in seed-stage VC funds from LPs seeking liquidity.
Closed Kline Hill Cendana Partners Fund II at $400M — the second VC secondaries vehicle co-managed with Kline Hill Partners, more than tripling the size of Fund I.
Michael Kim and Kelli Fontaine participated in a StrictlyVC LP panel at TechCrunch discussing the VC liquidity crisis, emerging manager fundraising challenges, secondaries market normalization, and Cendana's investment approach. Kim noted that 'tourist fund managers' from 2021 have been 'flushed out.'
Closed Cendana Capital VI at $400M — the firm's fastest-ever fundraise, exceeding its $340M hard cap, bringing total fund commitments to over 200 VC funds.