Madrona Venture Group
{{Short description|American venture capital firm}}
{{Multiple issues|
{{COI|date=October 2018}}
{{notability|Companies|date=October 2018}}
}}
{{Infobox company
| name = Madrona Venture Group
| logo = File:Madrona Wordmark.png
| type = Private
| industry = Venture capital
| founded = {{start date and age|1995}}
| founders = {{unbulleted list |Tom Alberg |Paul Goodrich |Gerald Grinstein |William Ruckelshaus}}
| hq_location_city = Seattle, Washington, US
| website = {{url|madrona.com}}
}}
Madrona Venture Group is an American venture capital firm, founded in 1995 and based in Seattle, Washington.{{Cite web|url=https://www.seattlebusinessmag.com/technology/madrona-venture-group-has-big-plans-seattle-area-tech-industry|title=Madrona Venture Group Has Big Plans for the Seattle Area Tech Industry|date=2018-10-02|website=Seattle Business Magazine|access-date=2018-12-04}} Madrona specializes in seed, startup, Series A and early stage investments.{{cite web|title=Madrona Venture Group|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21595|archive-url=https://web.archive.org/web/20100216023730/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21595|url-status=dead|archive-date=February 16, 2010|website=Businessweek|accessdate=4 November 2014}}
Company
Madrona was founded in 1995 by Tom Alberg, Paul Goodrich, Gerald Grinstein, and William Ruckelshaus.{{Cite news |last=Rosenblatt |first=Lauren |date=August 31, 2022 |title=Leading Seattle VC firm Madrona Venture Group expands to Palo Alto |url=https://www.seattletimes.com/business/leading-seattle-vc-firm-madrona-venture-group-expands-to-palo-alto/ |work=The Seattle Times}}{{cite web |title=Company Overview of Madrona Venture Group, LLC |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21595 |website=Bloomberg |accessdate=24 January 2019}} Madrona has invested in the information technology sector including consumer internet commercial software and services, cloud computing, digital media and advertising, wireless, networking, mobile, and infrastructure sectors.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21595|title=Madrona Venture Group: Private Company Information - Businessweek|website=www.bloomberg.com|access-date=2016-07-25}} As of 2015, more than 90% of the firms investments were in companies based in the Pacific Northwest.{{Cite web|url=http://www.seattletimes.com/business/new-madrona-300m-fund-invested-in-tech-companies/|title=New Madrona $300M fund to be invested in tech companies|date=2015-06-04|access-date=2016-07-25}}
In 2012, Madrona raised a $300 million fund.{{Cite web|url=http://www.geekwire.com/2015/the-mighty-madrona-why-one-vc-firm-is-so-critical-to-seattle-and-why-thats-a-little-scary/|title=The mighty Madrona: Why one VC firm is so critical to Seattle (and why that's a little scary)|date=2015-03-30|access-date=2016-07-25}}
In 2014, Madrona Venture Group launched a startup studio, Madrona Venture Labs, as an in-house startup incubator.Wall Street Journal [https://blogs.wsj.com/venturecapital/2014/12/10/madrona-venture-group-launches-studio-to-build-new-startups/ Madrona Venture Group Launches Studio to Build New Startups] December 10, 2014
In 2018, Madrona raised Madrona Fund VII of $300 million.{{Cite news|date=2018-05-22|title=Madrona Venture raises another $300 million fund to invest in Northwest startups|work=The Seattle Times|url=https://www.seattletimes.com/business/technology/madrona-venture-raises-another-300-million-fund-to-invest-in-local-startups/|access-date=2018-10-07}}
In October 2020, Madrona Venture Group invested in Temporal, a Seattle-based company that is developing microservice orchestration platform.{{Cite web|last=|first=|date=16 October 2020|title=Temporal raises $18.75M for its microservices orchestration platform|url=https://techcrunch.com/2020/10/15/temporal-raises-18-75m-for-its-microservices-orchestration-platform/|access-date=17 October 2020|website=techcrunch}}
At the end of 2020, the Group announced that it had raised over $500 million in new capital.{{Cite web |title=Seattle-based Madrona raises $345M for its eighth early-stage fund |date=29 December 2020 |url=https://techcrunch.com/2020/12/29/seattle-based-madrona-raises-320m-for-its-eighth-fund/}} Over $345 million of that figure was raised for its eighth fund, its largest to date, and $161 million for a second later-stage fund.{{Cite web|date=2020-12-30|title=Madrona Venture Group raises $345M for 8th fund, its largest ever, and $161M for 2nd later-stage fund|url=https://www.geekwire.com/2020/madrona-venture-group-raises-345m-8th-fund-largest-ever-160m-2nd-later-stage-fund/|access-date=2021-07-05|website=GeekWire|language=en-US}}
In September 2022, Madrona Venture Group raised its largest fund ever, $690 million. {{Cite web |last=Soper |first=Taylor |date=2022-09-13 |title=Madrona Venture Group raises $690M for two new funds to back startups in Seattle and elsewhere |url=https://www.geekwire.com/2022/madrona-venture-group-raises-690m-for-two-new-funds-to-back-startups-in-seattle-and-elsewhere/ |access-date=2022-11-18 |website=GeekWire |language=en-US}}
Companies invested in include Apptio, Impinj, Redfin, The Riveter, Rover.com, and Smartsheet.
References
External links
- [http://www.madrona.com/ Official website]
{{Venture capital firms}}
{{Private equity and venture capital}}
{{DEFAULTSORT:Madrona Venture Group}}
Category:Financial services companies established in 1995
Category:Venture capital firms of the United States
Category:Private equity firms of the United States
Category:Companies based in Seattle
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