Cendana Capital is a San Francisco-based fund of funds established in 2010, specializing in investments in very early-stage venture capital funds globally. With over $2.6 billion in assets under management, Cendana has supported more than 5,000 companies, including over 130 unicorns.
Cendana Capital partners with next-generation seed and pre-seed venture capital firms, aiming to provide institutional investors with exposure to promising early-stage ventures. The firm seeks to be the lead investor in its portfolio funds, working closely with General Partners (GPs) and Limited Partners (LPs) to foster a collaborative ecosystem.
In March 2025, Cendana Capital launched its sixth fund, Cendana 6, surpassing a $400 million hard cap in its fastest-ever fundraise. The fund received strong support from institutional LPs, including two public pension funds, and is designed to leverage Cendana’s experience and pattern recognition built over 15 years in early-stage venture investing.
Leadership
The firm is led by Founder Michael Kim, with Partners Graham Pingree and Kelli Fontaine. The team also includes Jon Coquia (VP of Finance & Chief Compliance Officer), Thomas Ikeda (Senior Investment Associate), Rohan Gandhi (Analyst), and Hillary Tyree (Head of Platform and Operations).
Investment Strategy
Cendana Capital focuses on partnering with early-stage funds, emphasizing portfolio construction, unique networks, and the entrepreneurial spirit of fund managers. The firm aims to be a true partner and trusted advisor to its portfolio funds, providing strategic advice and facilitating introductions between GPs and LPs.
Notable Investments
Cendana's portfolio includes companies such as Photon, CruxOCM, Human Interest, Chapter, Lily AI, Mechanical Orchard, Ruby Robotics, Arrow, Kyndi, and Particle.
Notable Exits
The firm has achieved several successful exits, including Next Trucking, Kyndi, Bonobos, Tempo Automation Holdings, JackThreads, Grove Collaborative, Feedback Loop, LendUp, Deliv, and Emailage.
