Floodgate

Floodgate is a prominent venture capital firm established in 2006 by co-founders Mike Maples Jr. and Ann Miura-Ko. The firm is recognized for pioneering the micro-VC model, focusing on early-stage investments, specifically at the pre-seed and seed stages. Floodgate positions itself as "Your First True Believers," aiming to back extraordinary founders with breakthrough insights before their ideas gain widespread recognition or achieve product-market fit. They are known for their conviction-based investment approach, seeking to identify and support companies that have the potential to disrupt industries and create new market opportunities.

The firm was originally named Maples Investments and rebranded to Floodgate Fund in March 2010. Floodgate's investment strategy is guided by Mike Maples' "Inflection Theory" framework, which helps identify "Prime Movers"—founders navigating significant technological or market shifts. They typically offer initial check sizes ranging from $150,000 to $1 million, with a portfolio model that allocates capital for initial checks and selective follow-on investments to support breakout companies.

Floodgate has made numerous investments and boasts a portfolio that includes several high-profile companies that have achieved significant success. Notable past investments and exits include Twitter, Lyft, Okta, Chegg, TaskRabbit, Rappi, and Refinery29. More recently, the firm has actively invested in AI-focused companies such as Hebbia, Counsel Health, and SmarterDX, and also in companies like Valgo (Insurance), EFEX (Financial Software), and Terra (Business/Productivity Software).

The Floodgate team comprises experienced professionals dedicated to supporting early-stage founders. Key partners include co-founders Mike Maples, Jr. and Ann Miura-Ko, along with Iris Choi and Mike Heller. The operational side is managed by CFO Lori Simotas and Director of Operations Lisa Del Ben, supported by Associates Sam Beskind and Helen Moore. Ann Miura-Ko is a recognized figure on the Forbes Midas List and is known for her expertise in highly technical companies, stemming from her background in math modeling of cybersecurity at Stanford. Mike Maples, Jr. has a successful entrepreneurial background with two startup IPOs and has been recognized on the Forbes Midas List multiple times.