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

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