With the closing of a new $300 million investment fund, Madrona Venture Group is ready to expand available capital for entrepreneurs and founders operating in the Pacific Northwest. As Madrona’s seventh fund within 23 years, they plan to partner with promising technology entrepreneurs and their teams for the long-term.
The total amount of funds now under their management is approximately $1.6 billion which includes the support of long-term and repeat investors such as foundations, premier endowments and other entrepreneurs.
Madrona’s commitment to the Pacific Northwest’s innovation ecosystem includes creating the first startup studio for Seattle five years ago, working with angel investors, and launching and supporting Seattle TechStars. Floor 33, an innovation community located in Seattle that houses a co-working space for founders, has been transformed to be Madrona Venture Labs.
“Madrona understood Smartsheet’s vision and the value of our innovation from our earliest days, even when some others did not,” said Mark Mader, CEO of newly public Smartsheet. “In the eleven years since, our partnership has yielded significant growth, supported by Madrona’s valued counsel on market trends, buyer needs, funding, executive talent, and ability to collaborate with other growth investors.”
The average time from initial investment to IPO for a Madrona portfolio company averages 12 years, reflecting the firm’s long-term commitment to the startups and early stage companies they fund as well as the local entrepreneurial tech community.
