Michael Kim, a partner at Santa Monica-based Rustic Canyon Partners, is departing the firm at the end of the year to startup up a new fund-of-funds, Cendana Capital. According to Kim, the new fund--based in San Francisco--will focus on investing in private equity, including both non-traditional private equity and venture capital investments. Kim was based in Silicon Valley. According to Kim, he will become an Advisory Partner to Rustic Canyon, and transfer his responsibilities at Rustic Canyon by the end of the year.