Kline Hill Partners and Cendana Capital have partnered to raise $400 million for their venture secondaries fund, Kline Hill Cendana Partners Fund II, exceeding the $300 million target to close on hard-cap. The fund launched in December 2024, reflecting strong investor appetite for secondary opportunities in the current market environment.

The new fund represents more than triple the size of its predecessor, which closed on $105 million in April 2024. This growth trajectory demonstrates the expanding market for venture secondaries as limited partners seek liquidity options in an increasingly complex venture capital landscape.

The partnership between Kline Hill Partners, a secondaries specialist, and Cendana Capital, an early-stage venture investor, combines expertise across different segments of the venture capital ecosystem. This strategic collaboration positions them to capitalize on increasing demand for secondary transactions as venture portfolios mature and LPs seek portfolio rebalancing opportunities.