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Exclusive: Floodgate raises $75 million for fund

July 31, 2012: 12:04 PM ET

Early Twitter investor closes fourth seed fund.

FORTUNE -- Early-stage tech investor Mike Maples made some headlines yesterday, when his Floodgate Fund disclosed in an SEC filing that it is seeking $75 million for its fourth fund. Actually, make that was seeking.

Fortune has learned that the fund is already closed, without even having to solicit new investors.

"In keeping with our investment strategy, our fund size and investor group has remained the same as with Fund III," Maples wrote in an email. "We are grateful to our LPs for their continued support."

Don't expect any strategy shift for Floodgate, which looks to "bridge the gap between initial seed money raised from traditional 'angel' investors and the much larger investments that characterize traditional venture capitalists." Portfolio companies include Chegg, Circle of Moms, FormSpring, ModCloth, SolarWinds, TaskRabbit and Twitter. Exited deals include Kongregate (acquired by GameStop), Playdom (sold to Disney) and Dasient (acquired by Twitter).

In addition to Maples, Floodgate is managed by Ann Miura-Ko, a lecturer in the School of Engineering at Stanford University.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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