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Cendana, Kline Hill have a fresh $105M to buy stakes in seed VC funds from LPs looking to sell

TechCrunchTechCrunch · 1y ago
Cendana, Kline Hill have a fresh $105M to buy stakes in seed VC funds from LPs looking to sell
Medial

Cendana Capital and Kline Hill Partners have raised $105 million for their Kline Hill Cendana Partners fund, exceeding their initial target of $75 million. The fund will focus on buying secondary interest in seed-stage venture capital funds and individual companies. As the lack of liquidity in venture capital becomes a growing challenge, this fund aims to take advantage of the opportunity to purchase illiquid positions at discounted rates. Cendana's relationships with portfolio funds will help source these secondary deals, with Kline Hill assisting in valuation, underwriting, and negotiation. If successful, the two firms plan to raise a successor fund next year.

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