If it ain’t broke, don’t fix it, right?
That’s exactly what seed-stage venture firm Floodgate is thinking as it closes its fifth and new fund. According to a filing to the U.S. Securities and Exchange Commission, this fund of just under $76 million, more or less the same size as its previous two, is again headed by managing partners Mike Maples Jr. and Ann Miura-Ko. Moreover, the fund will also have the same investing strategy, according to Fortune.
Floodgate has previously invested in buzzy startups such as Lyft, AngelList, IFTTT, Xamarin, Bigcommerce, TaskRabbit, and TapTalk, which SV Angel discovered on Product Hunt, resulting in the company raising a round of funding.
Among its investments, several have already exited, included Dasient (Twitter), DemandForce (Intuit), Gowalla (Facebook), ng:moco (DeNA), Playdom (Disney), and most recently Twitch.tv, which Amazon acquired. Maples invested in Justin.tv, Twitch.tv’s earlier incarnation, just before it graduated from Y Combinator and raised its first institutional round from Alsop Louie Partners and Felicis Ventures.
Floodgate was previously Maples Investments and morphed into Floodgate in 2010 with the addition of Miura-Ko and other tweaks to the firm’s setup.