SEATTLE, June 4, 2015 /PRNewswire/ -- Madrona Venture Group (www.madrona.com) today announced the closing of Madrona Venture Fund VI. The $300 million oversubscribed fund will back founders at the earliest stages as they build some of the most innovative businesses in the world. Madrona's investors are among the country's premier endowments, foundations, family offices, and entrepreneurs that have supported the firm's funds for many years.
"Early stage investing is a trust-based partnership between visionary founders and company-building investors. Madrona has a long track record of finding and helping great entrepreneurs realize their full potential," said Matt McIlwain, managing director, Madrona Venture Group. "The Pacific Northwest is one of the most innovative and important tech markets in the world with incredible talent, companies, and technology across sectors like cloud, SAAS, mobile and consumer. Working with entrepreneurs inspires us every day, and with this new fund we look forward to that continuing for many years to come."
Since its inception 20 years ago, Madrona has consistently focused on backing founders and entrepreneurs at the seed and Series A stages, working closely with them to maximize company success. Taking the long-term view, the Madrona team focuses on business growth drivers such as recruiting the best talent, building customer and partner relationships, making strategic choices, accessing follow-on capital, and amplifying the company's story.
Madrona invests across the technology spectrum and has backed successful companies such as Amazon.com, Isilon Systems and ShareBuilder. Current investments include Redfin, Apptio, Extrahop, Smartsheet, and MaxPoint Interactive.
"I have worked with the Madrona team on multiple companies over the past 15 years and what stands out is the energy they bring to every discussion and business issue. They are there to help where we need it most, and also take a value-added role when we are making key decisions," said Peter Godman, founder and CEO of Qumulo. "They are a great team and an important force in fueling our success."
With the addition of Madrona Venture Fund VI, the firm manages nearly $1.3 billion. More than 90% of capital invested has gone to companies headquartered in the rapidly growing Pacific Northwest tech ecosystem. The firm works closely with Microsoft, Amazon.com, SAP/Concur, the University of Washington Computer Science Department and other technology and entrepreneur-focused organizations. Madrona has a long track record of incubating companies including Z2, Farecast, Redfin, Rover.com and Igneous. Madrona also incubated companies like Spare5, through its Madrona Labs initiative and supports the angel investing community through the Alliance of Angels, University of Washington's seed stage W Fund, TechStars, Up Global, and other initiatives.
Madrona Venture Fund VI will benefit from an experienced group of Managing Directors, Venture Partners and professionals dedicated to providing capital and strategic value add to portfolio companies. The firm also added three new Strategic Directors in 2015: Steve Singh, John McAdam and Sujal Patel. Madrona's entire team is excited to be part of the technology ecosystem in the Pacific Northwest and is out talking to entrepreneurs to help find and build the next world-changing technology companies.
Madrona (www.madrona.com) has been investing in early-stage technology companies primarily in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominantly in seed and Series A rounds across the information technology spectrum, including consumer Internet, SAAS, digital media and advertising, cloud computing, data analytics, and mobile.
Erika Shaffer email@example.com 206-972-5514
SOURCE Madrona Venture Group