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Cendana, Kline Hill have a fresh $105M to buy stakes in seed VC funds from LPs looking to sell
Fund-of-funds investor Cendana Capital has joined with Kline Hill Partners for a new oversubscribed fund to buy out stakes from seed LPs looking for liquidity.
Kim felt the opportunity to increase his firm’s ownership in venture funds and promising startups at a substantial discount was too good to pass up. What sets Kine Hill Cendana’s investing vehicle apart is that it’s buying secondary interest in seed-stage firms and individual companies from seed funds. Cendana’s relationships with its portfolio funds, including Lerer Hippeau, Forerunner Ventures and Bowery Capital Kline, are helping it take the lead on sourcing secondary deals.
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