Seattle, WA-based early stage venture capital firm Madrona Venture Group closed its seventh investment fund, at $300m.
Fund VII was supported by a diverse set of repeat and long-term investors including the nation’s premier endowments, foundations, family offices, outsourced Chief Investment Offices (OCIOs) and entrepreneurs.
Madrona primarily focuses on partnering with promising technology entrepreneurs and their teams based in the Pacific Northwest from day one through the long term. The fund will deploy capital to lead and participate in seed and Series A investment rounds. In addition, the entire Madrona team will continue to help companies with recruiting talent, making strategic business decisions, amplifying company stories, connecting them with partners and customers and raising follow-on financings.
Madrona Venture Group is a venture capital firm supporting the innovation ecosystem in the Pacific Northwest via the creation of Seattle’s first startup studio, Madrona Venture Labs, launch and support of Seattle TechStars, the parthership with the University of Washington Allen School of Computer Science, and the angel investor community.
This year, Madrona will open Floor 33, a Seattle innovation community co-located with Madrona that will house an expanded Madrona Venture Labs and a curated co-working space for founders and their teams featuring programming for residents and the entire community.
This 22,000 square foot location will open later this summer.
The firm currently manages nearly $1.6 billion.