Seattle-based Madrona Venture Group has raised $300m for its Fund V.
Investors include several large endowments and foundations as well as a network of entrepreneurs and executives who provide strategic insights and assistance to Madrona and its portfolio companies.
Madrona Venture Fund V, which was oversubscribed for its $250m target, will continue the firm’s strategy of investing in seed and Series A-stage companies across the consumer Internet, enterprise software and services, digital media and advertising, networking and cloud computing, and mobile sectors, primarily based in the Pacific Northwest.
Madrona provides portfolio companies with recruiting, talent management, product development, customer and partner introductions, strategy setting, strategic communications, and financial advisory services. In addition, entrepreneurs have access to the firm’s extensive network of internal and external experts as well as fellow portfolio company executives.
The managing directors of the vehicle are Tom Alberg, Paul Goodrich, Greg Gottesman, Scott Jacobson, Len Jordan, Matt McIlwain, and Tim Porter.