# Limited Partner Unlocked: Michael Kim Cendana Capital on the Emerging Manager landscape, fundraising, and the need for liquidity

Page: https://stenobird.com/podcast/venture-unlocked-the-playbook-for-venture-capital-managers-2990261/limited-partner-unlocked-michael-kim-cendana-capital-on-the-emerging-manager-landscape-fundraising-and-the-need-for-liquidity
Text version: https://stenobird.com/podcast/venture-unlocked-the-playbook-for-venture-capital-managers-2990261/limited-partner-unlocked-michael-kim-cendana-capital-on-the-emerging-manager-landscape-fundraising-and-the-need-for-liquidity.md
Podcast: [Venture Unlocked: The playbook for venture capital managers](https://stenobird.com/podcast/venture-unlocked-the-playbook-for-venture-capital-managers-2990261)
Published: 2024-06-05T17:25:53+00:00
Episode link: https://ventureunlocked.substack.com/p/limited-partner-unlocked-michael
Audio file: https://api.substack.com/feed/podcast/145319783/529c3131356889c162d4f886c2091f5c.mp3
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JSON: https://stenobird.com/v1/public/podcasts/venture-unlocked-the-playbook-for-venture-capital-managers-2990261/episodes/limited-partner-unlocked-michael-kim-cendana-capital-on-the-emerging-manager-landscape-fundraising-and-the-need-for-liquidity
Duration seconds: 3050

## Resource

Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape. We are back with another LP-focused episode with Michael Kim , Founder of Cendana Capital . Michael shares how he started Cendana around his thesis (at the time very early) of backing small, emerging managers. This led to early investments in firms such as IA ventures, Forerunner, and Lerer Hippeau. During our discussion, we chatted about what qualities he’s seen in great emerging managers as well as his thoughts on portfolio construction. We also get into the challenges of raising funds today and why the secondary market will a critical component of venture moving forward. A word from our sponsor: As a founder, you understand the power of efficiency and growth. And with accelerator checking, earning up to 2.25 percent APY, your money works as hard as you do. For those aiming higher, you can unlock the full potential of your cash reserves with exclusive access to accelerator money market savings earning 4 percent APY on balances over $50,000. Say goodbye to unnecessary fees and hello to Grasshopper Bank , your next leap forward. Nationally chartered and headquartered in New York City, Grasshopper is a client-first digital bank built to serve the business and innovation economy, combining the best of banking technology and years of industry expertise to deliver best-in-class experiences with trusted security and unparalleled support. It's time to switch, and make Grasshopper your financial foundation and watch your cash reserves grow as much as your business. Grasshopper , the future of startup banking. About Michael Kim: Michael Kim is the Founder of Cendana Capital, a San Francisco-based firm that specializes in investing in very early-stage VC fund…

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