2025 Sohn San Francisco: Floating Capital – Digitizing Mortgages Makes This Company A Potential Multi-bagger

Gaurav Gupta, Founder and Chief Investment Officer of Floating Capital,  pitched a deep value technology idea at the 2025 Sohn San Francisco Conference. Gupta’s pitch is a white-labeled B2B software provider that has quietly achieved significant market penetration in a highly cyclical sector, yet trades at exceptional free cash yields due to temporary macroeconomic pressures. Floating Capital believes this company, currently trading at a billion dollar market cap, presents "incredibly compelling" asymmetry and the potential to generate $250 million in free cash flow by 2027, making it a potential multi-bagger over the next two years.

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Prior to founding Floating Capital, he spent nine years at Light Street Capital, where he led global investments in internet, media, and fintech, excluding China. He began his career at Goldman Sachs in the Technology, Media, and Telecommunications (TMT) group in San Francisco after graduating from the Haas School of Business at UC Berkeley.

Gupta noted he was "fortunate enough to have invested in Shopify, Square, and Wayfair all when they were 1 to 3 billion market cap," companies that subsequently grew to "100 billion plus market cap". More recently, at Floating Capital, the firm invested in Apple 11 and Dave & Busters  two years ago, which are now 10-baggers for the hedge fund. Floating Capital is a concentrated technology hedge fund based in San Francisco focusing on multi bagger quality names.  Floating Capital believes their pitch is a potential multi-bagger with a current low valuation due to temporary, cyclical distress.