Monday, April 17, 2006

Madrona Ventures Closes $167M Fund

Seattle-based Madrona Venture Group has closed a $167M fund, the firm said today. The fund is the firm's third. Madrona said that its target fund size was $150M. The new fund brings Madrona's total venture capital pool to over $400M. LPs in the fund included Investure, the James Irvine Foundation, the Ewing Marion Kauffman Foundation, the Oregon Growth Account, Quellos Private Capital, the Government of Singapore (TIF Ventures), The Investment Fund for Foundations (TIFF), the University of Virginia Investment Management Company, and the University of Washington. Madrona said it expected to invest in 20 to 25 early stage companies over the next four years with the new fund, in the Internet, software, wireless, and research commercialization sectors. Madrona has backs such companies as iConclude, Impinj, PayScale, Redfin, Bag Borrow or Steal, and others. More information »