Madrona Venture Group, LLC
SEC exempt reporting adviser (venture capital exemption).
- Website
- HTTP://WWW.MADRONA.COM
- HQ
- WA
Madrona Venture Group, LLC backs founding teams at seed, early, and acceleration stages in Seattle, the Bay Area, and beyond. Its people include Managing Directors Scott Jacobson, Matt McIlwain, and Karan Mehandru, Partner Chris Picardo, Investor Anna Chen, and Venture Partner Oren Etzioni. Portfolio companies span AI, cloud development, data security, and healthcare payments, including Deepgram, Pulumi, Runway, Yoodli, and Redfin.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Seed, Series A, Series B, Growth | Not enough dated deals | Series A, Series B, Growth, Seed |
| Sectors | AI infra, AI applications, Consumer, Biotech | Not enough dated deals | Enterprise SaaS, Data analytics, Hardware, AI applications, Devtools, Consumer, Media |
| Regions | CA, WA | Not enough dated deals | WA, CA |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 1998 | 1 | Ecommerce |
| 1999 | 3 | Construction and proptech, Consumer, Ecommerce |
| 2000 | 25 | Enterprise SaaS, Ecommerce, Fintech |
| 2001 | 7 | Fintech, Consumer, Cybersecurity |
| 2002 | 3 | Enterprise SaaS, Hardware, Media |
| 2004 | 10 | Hardware, Media, Consumer |
| 2005 | 13 | Enterprise SaaS, Data analytics, Hardware |
| 2006 | 8 | Construction and proptech, Media, Devtools |
| 2007 | 15 | Enterprise SaaS, Consumer, Ecommerce |
| 2008 | 7 | Ecommerce, Enterprise SaaS, Edtech |
| 2009 | 12 | Enterprise SaaS, Media, Devtools |
| 2010 | 10 | Enterprise SaaS, Consumer, Devtools |
| 2011 | 19 | Enterprise SaaS, Ecommerce, Data analytics |
| 2012 | 20 | Enterprise SaaS, Data analytics, Hardware |
| 2013 | 21 | Data analytics, Enterprise SaaS, Devtools |
| 2014 | 26 | Enterprise SaaS, Devtools, Data analytics |
| 2015 | 18 | Enterprise SaaS, Data analytics, Consumer |
| 2016 | 21 | Enterprise SaaS, Data analytics, AI applications |
| 2017 | 30 | Enterprise SaaS, AI applications, Data analytics |
| 2018 | 38 | Enterprise SaaS, Data analytics, Devtools |
| 2019 | 29 | Enterprise SaaS, AI applications, Data analytics |
| 2020 | 13 | Enterprise SaaS, AI applications, Biotech |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2010 | 0 | 0 | 4 | 1 | 3 |
| 2011 | 0 | 2 | 3 | 8 | 2 |
| 2012 | 0 | 6 | 7 | 2 | 1 |
| 2013 | 0 | 4 | 7 | 4 | 5 |
| 2014 | 0 | 5 | 9 | 4 | 7 |
| 2015 | 0 | 3 | 7 | 5 | 2 |
| 2016 | 0 | 6 | 5 | 6 | 3 |
| 2017 | 0 | 6 | 7 | 7 | 8 |
| 2018 | 0 | 9 | 12 | 6 | 6 |
| 2019 | 0 | 8 | 8 | 3 | 9 |
| 2020 | 0 | 3 | 3 | 3 | 1 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| MADRONA ACCELERATION FUND IV-A, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2025 | $5.77M (Form D) | Open, writing first checks |
| MADRONA ACCELERATION FUND IV, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2025 | $269.41M (Form D) | Open, writing first checks |
| MADRONA ACCELERATION IV MANAGER FUND, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2025 | $7.61M (Form D) | Open, writing first checks |
| MADRONA VENTURE FUND X-A, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering hands-on with founders in Seattle, the Bay Area, and beyond. The firm invests across AI, data and infrastructure, security, consumer, enterprise apps, biotech, and deep tech. Inferred from the firm's website | 2025 | $5.77M (Form D) | Open, writing first checks |
| MADRONA VENTURE FUND X, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering hands-on with founders in Seattle, the Bay Area, and beyond. The firm invests across AI, data and infrastructure, security, consumer, enterprise apps, biotech, and deep tech. Inferred from the firm's website | 2025 | $489.58M (Form D) | Open, writing first checks |
| MADRONA X MANAGER FUND, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering hands-on with founders in Seattle, the Bay Area, and beyond. The firm invests across AI, data and infrastructure, security, consumer, enterprise apps, biotech, and deep tech. Inferred from the firm's website | 2025 | $15.6M (Form D) | Open, writing first checks |
| MADRONA ACCELERATION FUND III-A, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $5.42M (Form D) | Late investment period |
| MADRONA ACCELERATION FUND III, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $255.15M (Form D) | Late investment period |
| MADRONA ACCELERATION III MANAGER FUND, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $7.96M (Form D) | Late investment period |
| MADRONA IX MANAGER FUND, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $15.53M (Form D) | Late investment period |
| MADRONA VENTURE FUND IX-A, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $5.73M (Form D) | Late investment period |
| MADRONA VENTURE FUND IX, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2022 | $424.01M to $429.01M (Form D and SEC adviser filing) | Late investment period |
| MADRONA VENTURE FUND VII EXTENSION, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering with founders to build lasting companies. Its Acceleration Funds focus on applied AI companies moving from product-market fit to business growth, primarily in the U.S. Inferred from the firm's website | 2021 | $115.74M (Form D) | Late investment period |
| MADRONA VII MANAGER FUND EXTENSION, L.P. Madrona backs founding teams at seed, early, and acceleration stages, partnering hands-on with founders in Seattle, the Bay Area, and beyond. The firm invests across AI, data and infrastructure, security, consumer, enterprise apps, biotech, and deep tech. Inferred from the firm's website | 2021 | $9.91M (Form D) | Late investment period |
| MADRONA ACCELERATION FUND II-A, L.P. | 2020 | $5.33M (Form D) | Follow-ons only |
| MADRONA ACCELERATION FUND II, L.P. | 2020 | $144.68M to $145.66M (Form D and SEC adviser filing) | Follow-ons only |
| MADRONA ACCELERATION II MANAGER FUND, L.P. | 2020 | $9.09M (Form D) | Follow-ons only |
| MADRONA VENTURE FUND VIII-A, L.P. | 2020 | $5.36M to $6.62M (Form D and SEC adviser filing) | Follow-ons only |
| MADRONA VENTURE FUND VIII, L.P. | 2020 | $314.64M to $414.86M (Form D and SEC adviser filing) | Follow-ons only |
| MADRONA VIII MANAGER FUND, L.P. | 2020 | $16.55M (Form D) | Follow-ons only |
03 · People across funds
- L.P. MADRONA ACCELERATION PARTNERS II, GENERAL PARTNER OF ISSUER
MADRONA ACCELERATION FUND II-A, L.P. (Named on Form D); MADRONA ACCELERATION FUND II, L.P. (Named on Form D)
- L.P. MADRONA ACCELERATION PARTNERS III, MADRONA ACCELERATION PARTNERS III, L.P. IS THE GENERAL PARTNER OF THE ISSUER
MADRONA ACCELERATION FUND III-A, L.P. (Named on Form D); MADRONA ACCELERATION FUND III, L.P. (Named on Form D)
- L.P. MADRONA ACCELERATION PARTNERS IV, GENERAL PARTNER OF ISSUER
MADRONA ACCELERATION FUND IV-A, L.P. (Named on Form D); MADRONA ACCELERATION FUND IV, L.P. (Named on Form D)
- L.P. MADRONA INVESTMENT PARTNERS IX, MADRONA INVESTMENT PARTNERS IX, L.P. IS THE GENERAL PARTNER OF THE ISSUER
MADRONA VENTURE FUND IX-A, L.P. (Named on Form D)
- L.P. Madrona Investment Partners VII Extension, General Partner of Issuer
MADRONA VENTURE FUND VII EXTENSION, L.P. (Named on Form D)
- L.P. MADRONA INVESTMENT PARTNERS VIII, GENERAL PARTNER OF ISSUER
MADRONA VENTURE FUND VIII-A, L.P. (Named on Form D); MADRONA VENTURE FUND VIII, L.P. (Named on Form D)
- LLC MADRONA ACCELERATION II GENERAL PARTNER, GENERAL PARTNER OF ISSUER
MADRONA ACCELERATION II MANAGER FUND, L.P. (Named on Form D)
- LLC MADRONA ACCELERATION III GENERAL PARTNER, MADRONA ACCELERATION III GENERAL PARTNER, LLC IS THE GENERAL PARTNER OF THE ISSUER
MADRONA ACCELERATION III MANAGER FUND, L.P. (Named on Form D)
- LLC MADRONA ACCELERATION IV GENERAL PARTNER, GENERAL PARTNER OF ISSUER
MADRONA ACCELERATION IV MANAGER FUND, L.P. (Named on Form D)
- LLC MADRONA IX GENERAL PARTNER, MADRONA IX GENERAL PARTNER, LLC IS THE GENERAL PARTNER OF THE ISSUER
MADRONA IX MANAGER FUND, L.P. (Named on Form D)
- LLC Madrona VII General Partner, General Partner of Issuer
MADRONA VII MANAGER FUND EXTENSION, L.P. (Named on Form D)
- LLC MADRONA VIII GENERAL PARTNER, GENERAL PARTNER OF ISSUER
MADRONA VIII MANAGER FUND, L.P. (Named on Form D)
- LLC MADRONA X GENERAL PARTNER, GENERAL PARTNER OF ISSUER
MADRONA X MANAGER FUND, L.P. (Named on Form D)
- LP MADRONA INVESTMENT PARTNERS IX, MADRONA INVESTMENT PARTNERS IX, L.P. IS THE GENERAL PARTNER OF ISSUER
MADRONA VENTURE FUND IX, L.P. (Named on Form D)
- LP MADRONA INVESTMENT PARTNERS X, GENERAL PARTNER OF ISSUER
MADRONA VENTURE FUND X-A, L.P. (Named on Form D); MADRONA VENTURE FUND X, L.P. (Named on Form D)
- Anna Chen, Investor
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Chris Picardo, Partner
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Karan Mehandru, Managing Director
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Matt McIlwain, Managing Director
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Oren Etzioni, Venture Partner
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Scott Jacobson, Managing Director
MADRONA ACCELERATION FUND IV-A, L.P. (Team); MADRONA ACCELERATION FUND IV, L.P. (Team); MADRONA ACCELERATION IV MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND X-A, L.P. (Team); MADRONA VENTURE FUND X, L.P. (Team); MADRONA X MANAGER FUND, L.P. (Team); MADRONA ACCELERATION FUND III-A, L.P. (Team); MADRONA ACCELERATION FUND III, L.P. (Team); MADRONA ACCELERATION III MANAGER FUND, L.P. (Team); MADRONA IX MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND IX-A, L.P. (Team); MADRONA VENTURE FUND IX, L.P. (Team); MADRONA VENTURE FUND VII EXTENSION, L.P. (Team); MADRONA VII MANAGER FUND EXTENSION, L.P. (Team); MADRONA ACCELERATION FUND II-A, L.P. (Team); MADRONA ACCELERATION FUND II, L.P. (Team); MADRONA ACCELERATION II MANAGER FUND, L.P. (Team); MADRONA VENTURE FUND VIII-A, L.P. (Team); MADRONA VENTURE FUND VIII, L.P. (Team); MADRONA VIII MANAGER FUND, L.P. (Team)
- Joe Horsman, Investor
On the team page, not linked to a fund
- Phoebe Weiser, Investor
On the team page, not linked to a fund
- Rasik Parikh, Investor
On the team page, not linked to a fund
- Rolanda Fu, Investor
On the team page, not linked to a fund
- Sabrina Albert (Wu), Partner
On the team page, not linked to a fund
- Steve Singh, Managing Director
On the team page, not linked to a fund
- Tim Porter, Managing Director
On the team page, not linked to a fund
- Vivek Ramaswami, Partner
On the team page, not linked to a fund
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- HTTP://WWW.MADRONA.COM
- https://www.madrona.com/companies/
- https://www.madrona.com/team/?show=investors
- https://www.madrona.com/
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026