Floodgate closes sixth VC fund at $131m

Early stage VC Floodgate has closed its latest fund at $131m according to an SEC filing that shows the firm brought in cash from eight investors.

The fund last year made fintech investments in check cashing app Airbanq, which raised $3.35m in a seed round and SEC-regulated securities exchange Long-Term Stock Exchange, which raised an undisclosed Series A round.

Operating across California and Austin, Floodgate previously backed Twitter as well as Lyft and TaskRabbit.

The $131m fund is a step up from the $76m the firm raised for its fifth fund in 2014, having previously closed its fourth and third funds at $75m and $73.5m, respectively.

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