One could probably argue that Floodgate, the Bay Area-based seed-stage venture firm, punches above its weight. The roughly 15-year-old firm has just around $500 million in assets under management — including a $150 million fund that it quietly closed in January — and it makes just a handful of new investments each year. Yet with investments in Okta, Lyft and Starkware, which was valued at $8 billion in May, among others, its concentrated approach appears to be paying off.
Writing so few checks, particular in a booming market, might prove frustrating to some investors. But over the
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