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.