Floodgate

How This Seed Fund Grew to $1B by Backing Startups

February 28th, 2025

Founded By

Mike Maples Jr.

Founders

Profitable

Yes

Year Started

2006

Customer

B2B

Founded By
Mike Maples Jr.: Founders
2

Profitable
Yes: Year Started
2006

Customer
B2B

Who is Mike Maples Jr.?

Mike Maples Jr. is a Stanford and Harvard MBA graduate who, before becoming a renowned investor, was a founder and executive at startup IPOs like Tivoli Systems and Motive. He co-founded Floodgate, a pioneering seed fund, after recognizing a shift in how companies could be started with less capital.

What problem does Floodgate solve?

Floodgate helps aspiring startups by providing them with the initial capital needed to test and validate their ideas, allowing founders to avoid the costly mistake of overfunding before proving their concept's viability.

How did Mike come up with the idea for Floodgate?

Mike Maples Jr.'s journey to starting Floodgate began with a series of observations about the evolving tech landscape. Coming from a background where he watched his father work in the tech industry, he developed an early fascination with computers, which he turned into practical experience by writing video games during high school. This personal history gave him a firsthand understanding of technology's potential to disrupt industries and empower individuals.

His insight into the need for a new type of venture approach crystallized while reflecting on how technological advancements had drastically reduced startup costs. Maples realized that unlike during the dot-com era, great companies could begin with much less capital, allowing ideas to be tested more efficiently and economically. This understanding led to the creation of a seed fund model where...

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Fundraising Consu...

$54K/month