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michael kim

T2 · manager / operator

Founded Sindana Capital in 2010 as an LP focused on seed-stage venture funds; manages nearly $3B for US endowments and foundations; early backer of Forerunner, NEO, Founders Fund, and other top-performing funds.

10 calls·8 names·90% bull·last heard 2 months ago·TBPN
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$FOUNDERS-FUND-2Founders Fund 2position

Michael Kim: Founders Fund 2 approaching 300x, driven by SpaceX

Founders Fund 2 is on track to become a ~300x fund, largely due to its SpaceX position, and Kim regrets not having more allocation given the fund's historic performance.

TBPN2026-07episode →
2ndhigh conviction
$BLOCKCHAIN-CAPITAL-2Blockchain Capital 2position

Michael Kim: Blockchain Capital 2 at 157x, targeting 250x

Blockchain Capital Fund 2 has already returned 157x and is on pace for 250x, making it one of the best venture funds ever, and Kim holds a position.

TBPN2026-07episode →
3rdhigh conviction
$BLOCKCHAIN-CAPITALBlockchain Capitalposition

Kim: Fund II at 157x heading to 250x, top-three all-time venture return

Blockchain Capital's second fund has achieved 157x net returns and is compounding toward 250x, ranking among the three best venture funds ever alongside Founders Fund II and Lowercase Capital I.

TBPN2026-07episode →

most discussed · click a bar to filter

  • $FOUNDERS-FUND
  • $NEO
  • $FOUNDERS-FUND-2
  • $BLOCKCHAIN-CAPITAL-2
  • $BLOCKCHAIN-CAPITAL

recurring themes

  • Venture Capital3
10 total
$FOUNDERS-FUND-2
Founders Fund 2
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Michael Kim: Founders Fund 2 approaching 300x, driven by SpaceX
Founders Fund 2 is on track to become a ~300x fund, largely due to its SpaceX position, and Kim regrets not having more allocation given the fund's historic performance.
"Founders Fund 2 is approaching three... Founders Fund 2 is probably going to be a 300X fund... SpaceX... It's still I know it's amazing... having more in those."
131:23
$BLOCKCHAIN-CAPITAL-2
Blockchain Capital 2
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Michael Kim: Blockchain Capital 2 at 157x, targeting 250x
Blockchain Capital Fund 2 has already returned 157x and is on pace for 250x, making it one of the best venture funds ever, and Kim holds a position.
"Blockchain Capital right now is 157x fund and it's on its way to being 250... the other two funds are Founders Fund 2, which I'm in and personally, and also Blockchain Capital 2,…"
131:30
$BLOCKCHAIN-CAPITAL
Blockchain Capital
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Kim: Fund II at 157x heading to 250x, top-three all-time venture return
Blockchain Capital's second fund has achieved 157x net returns and is compounding toward 250x, ranking among the three best venture funds ever alongside Founders Fund II and Lowercase Capital I.
"Blockchain Capital right now is 157x fund and it's on its way to being 250. Um, and Chris of course was 204. So, you know, I didn't realize FF2 was that good."
131:10
$ZFELLOWS
Zfellows
MEDmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Z Fellows' campus presence provides early access to young founders
Kim said Corey Levy's campus presence at Z Fellows and Josh Browder's role on the Thiel Fellowship selection committee provide access to promising young founders.
"We have Corey Levy at Zfellow who's you know all over the college campuses... Josh Browder he's a teal fellow and he um you know he he's on the selection committee so he gets acce…"
119:49
$NOVA
Nova
MEDmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Kim: Nova's 25/23/19-year-old GP team hustles on campuses for AI-native, small-team founders
Nova's extremely young GP team (Carlo, Coco, Henry) spends intensive time on college campuses, aligning with the thesis that AI-native companies with small teams can reach growth-stage revenue quickly, requiring downstream capital access.
"Carlo and Coco at a fund called Nova and they spend you know they're they're 25 and 23 years old. Their third partner Henry is 19. You know they spend a lot of time with kids in i…"
119:30
$FOUNDERS-FUND
Founders Fund
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Kim: Fund II approaching 300x driven by SpaceX, one of three best venture funds ever
Founders Fund II is on track for ~300x returns primarily from SpaceX ownership, making it one of the three highest-returning venture funds in history alongside Lowercase I and Blockchain Capital II.
"Founders Fund 2 is probably going to be a 300X fund. I think Blockchain Capital right now is 157x fund and it's on its way to being 250. Um, and Chris of course was 204. So, you k…"
131:00
$LOWERCASE-CAPITAL
Lowercase Capital
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil
Kim: Fund I at 204x, anti-portfolio regret for not investing
Lowercase Capital I returned 204x, but Sindana passed on it due to discipline around seed-only focus; Kim acknowledges this as a significant anti-portfolio miss.
"We're not in lowercase one, but I I we're, you know, we're involved with Laura Carbon now, and I've known Chris Saka for probably 12 years. But the other two funds are Founders Fu…"
130:50
$NEO
Neo
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Kim: Neo's scholar pipeline into top CS programs yields Cursor, KI, Cognition, Deel, Ramp
Neo's competitive edge is its Neo Scholar program recruiting elite CS students from Harvard, MIT, Stanford, CMU, giving Ali Partovi first access to generational founders; portfolio includes first checks in Cursor, KI, Cognition, Deel, Ramp.
"NEO is an is a very good example of one that we have continued to invest in since fund one... Ali Partvi um you know he was the first check into cursor first check into KI he has…"
118:00
$NEO
NEO
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
NEO's scholar program sourcing top CS students yields first checks into Cursor, KI, Cognition, Deel, Ramp
Ali Partvi's NEO fund built a structural sourcing advantage via the NEO Scholar program at Harvard, MIT, Stanford, CMU, identifying elite technical founders early; this pipeline produces consistent access to breakout AI-native companies with small teams generating substantial revenue quickly.
"NEO... Ali Partvi um you know he was the first check into cursor first check into KI he has cognition he has deal he's ramp you know amazing track record but he had a sourcing eng…"
119:00
$FOUNDERS-FUND
Founders Fund
HIGHmichael kim·TBPN·2 months ago·Leo Sold, Ferrari Undefeated, Meta Down, Microsoft Up, Market Turmoil· position
Founders Fund 2 approaching 300x return driven by SpaceX, one of three best venture funds ever
Michael Kim's LP portfolio includes Founders Fund 2 (nearing 300x), Blockchain Capital 2 (157x heading to 250x), and Lowercase Capital (204x); SpaceX is the primary driver of Founders Fund's outsized returns, validating concentrated conviction bets.
"Founders Fund 2 is probably going to be a 300X fund... Blockchain Capital right now is 157x fund and it's on its way to being 250... Chris of course was 204. So, you know, I didn'…"
131:00
8
Venture Capitaltailwind
Seed fund-of-funds model compounds via anchor LP status and manager access
Sindana Capital's $3B fund-of-funds wins by leading 80%+ of its seed funds, betting on managers with structural founder access (scout programs, university pipelines) rather than picking skill alone, and benefits from power-law returns where a single 300x fund (Founders Fund 2) dominates portfolio economics.
8
Venture Capitaltailwind
Kim: Seed fund explosion (2,000+ funds) creates power-law LP game; access > picking, anchor LPs win by identifying sourcing engines early
The seed landscape has exploded to ~2,000 funds, but returns remain power-law. Sindana wins by anchoring funds with structural sourcing advantages (Neo's scholar program, Zfellows' campus network, Nova's youth) rather than raw picking skill. Fund managers with hustle, live networks, and downstream capital access outperform; former operators excel at earliest stages, ex-bankers at late stages.
8
Venture Capitaltailwind
Seed fund investing shifts to indexing on founder access pipelines over picking skill
With infinite new companies forming yearly, top LPs like Sindana Capital prioritize fund managers with structural access to elite founders (NEO's scholar program, ZFellows campus presence, Nova's youth focus) because deal flow volume and early access compound more reliably than individual picking ability in a power-law market.