Independent rating of Floodgate VC fund
Overall rating:
15 reviews
About Floodgate VC fund
Website:
Founded:
2006
Number of funds:
6
Number of investments:
340
Number of exits:
89
Headquarters:
Organization type:
Micro VC, Venture Capital
How Floodgate VC fund invests
Rounds:
Average ticket size:
11.3M USD
Biggest investment:
48.6M USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Software, Internet, Transportation, E-Commerce, Video Streaming, Usability Testing, Trading Platform, Supply Chain Management, Stock Exchanges, Social Network, Social Media, Social, Restaurants, Real Estate, Productivity Tools, Parking, Mobile Apps, Marketplace, Logistics, Knowledge Management, Information Technology, Food Delivery, Financial Services, FinTech, Delivery, Computer, Collaboration, Apps
Founders' reviews of Floodgate VC fund
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Older than a year by non-portfolio founder
Fast Email Response Time, Though Not Very Detailed
I contacted Floodgate( specifically Mike Maples ) after I read up about him and saw a bunch of videos about his thoughts on the industry. I felt we are generally looking for the same thing, but I still had a ton of questions about what his firm is looking for.
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Good Pitch, No Follow Up
I pitched Mike and Ann and had what seemed like a good meeting. Good questions; they resonated with some things and were concerned about others. Then they expressed fairly concrete interest - not "this is interesting", but "we are really interested and will get back to you within X hours."
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Quick Response, Clear Reason
Pitched them a couple months ago and Mike laid out reasons for them to pass. There is good chance that we will engage them once we can demonstrate that the issues he raised can be circumvented.
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Responsive, Helpful
Met with Mike through a warm introduction, he and Ann were helpful with further introductions. They were both also very responsive to e-mails and further communication.
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Responsive
Mike Maples has to be one of the most responsive people I've ever seen.
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Can Maples Lead a Small Round?
The FAQ on Maples Investments Web site states: "Generally we invest alongside other, experienced private investors or top-tier venture firms."
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More Like Mike
We pitched Mike last year. He was very quick to respond. We found him to be kind and courteous. We are outside his focus, and he thus declined to invest, but I'd pitch him again in a heartbeat.
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Mike is a Great Guy
I first met Mike more than 10 years ago when he interviewed me for a job for Motive, a company he helped found in the late 90s in Austin, TX. He also struck me as a sharp guy and I was not surprised to see him show many years later as an investor.
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Excellent
Mike is an unusual VC. He listens, he's positive, he's actually helpful post-investment, he's legitimately smart, and he's never arrogant.
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A Class Act
I met Mike when he lectured to one of my courses at Stanford, and his passion for helping entrepreneurs was readily apparent. Held an informal meeting with him about my embryonic startup, and even though we're in a space that he is not interested in investing in, he provided invaluable feedback. Unlike many of the boorish, arrogant, and sophomoric VC's I have encountered, Mike Maples is a class act, and is incredibly intelligent to boot. Anyone starting a consumer Web 2.0 company should consider Mike for seed funding.
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Geographically Limited
In recognition that entrepreneurs take a great deal of time to create the power points, executive summaries, applications, etc. to present to the various funds, it would be helpful to know some obvious limitations of each fund. We received a note from Mike Maples that he only works with companies in Silicon Valley, CA and Austin, TX. It would have been nice to know in advance and not waste valuable time.
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Genuinely Interested in the 2.0 Space
I can only concur and attest with the positive comments posted about his attentiveness and candid remarks. I was referred to him by NEA. We emailed a couple times and held a couple of calls. While he was interested in our space and biz model, he had just invested and needed to attend to his investment! He suggested that we catch-up in a couple of months when we had some more traction. Unfortunately - a deal with a major partner got scuttled and were forced to move on.
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If You're Early Stage, Definitely Talk to Maples
While it is relatively early in the game, Mike has established himself as a top early stage VC with a very good track record of picking investments and helping get them to the next level. Beyond that, he's a really nice guy - the rare VC who can make you feel good about your idea and your company even if he passes, and can add a lot of value to your company if he decides to invest (he's also willing to go the extra mile to help you out if he passes).
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Great Experience
Mike has a clear idea on how he wants to invest and clearly explained to me what I would need to do to get his attention. He shared typical terms of his investments and they seemed very friendly towards the founders, especially at such an early stage. A polite decline, but stayed in touch with promised follow-up. Thanks Mike!
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Mike Maples Jr. Was Great to Talk To!
I spoke with Mike Maples Jr. over the phone about my company recently. Although it didn't seem like my company would be the kind of thing that they invest in, he took the time to talk with me about various aspects regarding my business model, finding funding etc... He even said if he came across someone who might be interested in my project he'd send them my way. He was even willing to talk about some of his past investments and his companies thoughts and concerns about investing in them.