Michael Kim (@MKRocks), founder and managing partner of Cendana Capital, joins Erik on this episode to talk about what LPs look for in venture funds and the future of the industry.

They discuss:

- The reasons for the proliferation of seed funds over the past few years.

- The rise of the "super angels."

- Why portfolio construction is so important to Cendana when they're looking at a fund.

- How he evaluates a fund to see whether their thesis can generate the right returns.

- Why he’s “not looking for the ETF of seed investing.”

- In which geographies they’re looking for emerging fund managers.

- The rise of YC and the economics of accelerators.

- What the next 5-10 years will look like for the industry, including whether there’s a “reckoning” ahead.

Thanks for listening — if you like what you hear, please review us on your favorite podcast platform.

Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.

Venture Stories is brought to you by Village Global and is hosted by co-founder and partner, Erik Torenberg.