Madrona announced the closing of Fund X and Acceleration Fund IV, which will be deployed in the next several years in new companies and will support them through their life cycle.
These funds come at the start of Madrona’s 30th year of helping founders build transformational companies in various technology areas like Applied AI, Developer Tools, Cloud, and AI-enabled biology across the enterprise and consumer audiences.
At $770 million, these new funds are the largest raised by the firm and enable the team to continue to build the greater Seattle ecosystem while expanding its presence in Silicon Valley.
Founded in 1995 with a seed investment in Amazon, Madrona evolved to be a multi-stage venture firm, investing in pre-seed, seed, and Series A from Madrona Fund X and in new companies at the Acceleration stage (Series B and C) from its Acceleration Fund (AFIV). And the firm opened an office in Palo Alto in 2022 and continues to invest in growing the team there and in the Seattle HQ.
These funds come two and a half years after raising Madrona Fund IX and AF III. And notable recent investments include Unstructured, RunwayML, Statsig, MotherDuck, Read.ai, Cohesity, and Terray Therapeutics.
KEY QUOTES:
“We are deeply grateful to our investors who share our belief in day one investing along with a strategy that provides the best of seed and acceleration stage company building. Our 30-year strategy of delivering the Seattle perspective, recently enhanced by a strong Silicon Valley team, is highly differentiated in the venture world. This past year, we’ve witnessed an accelerating pace of innovation, and we are delighted to have these new funds to support visionary founders and teams in a ‘risk on’ market environment. By leveraging data and applied AI at their core, these innovators are building the transformational companies of tomorrow.”
– Matt McIlwain, managing director, Madrona
