Need Funding? Floodgate To Be a ‘Super Angel’ For Startups
By Anna Johnson on April 15th, 2010Floodgate is a new venture capital firm aiming to bridge the gap between traditional angel investors and venture capital firms.
Managing partner Mike Maples, Jr. along with partner Ann Miura-Ko, will implement a ‘super angel’ strategy of investing seed amounts of between $150,000 and $1,000,000, and then helping companies:
“discover, refine, evolve, and master the core elements of their businesses so they will be in the best possible position to one day ‘open the floodgates’ to market disruption and dominance.”
In addition to providing seed funding, Floodgate will take a much more hands-on approach than traditional VCs. The firm will, among other things, help start-ups accelerate their growth by providing such assistance as identifying high potential business opportunities, attracting and hiring staff, facilitating partnering opportunities, and finding further financing.
Floodgate is interested in investing in companies with: a visionary founder; huge potential markets; a key ‘unfair’ technological; business model or network advantage; and low capital requirements.
Due to its desire to work closely with the startups it funds, Floodgate prefers to work with companies located in the San Francisco Bay Area or in Austin, Texas.
For more information about Floodgate and how to apply for funding visit Floodgate.
