I do it all the time.
Sometimes I make a starter larger than needed, other times I just take half from the first step and then step up the remainder.
When the starter is finished, I swirl it around to get the yeast into suspension, and take off about 1.5 pints. I cold-crash this and then pour off a pint, leaving about 7 ozs with all the yeast. This gets poured into a sanitized 8 ozs mason jar and stored in the fridge. Sometimes I leave the beer in, but usually pour the beer off after a month or so and replace with distilled water.
I recently made a new starter out of some yeast I had stored this way 29 months earlier. This is the longest I have ever left one before trying to use it again. It worked fine, showing activity within a day. I have not had a problem with any of the yeasts I have stored this way.