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September 15, 2022

Madrona

Madrona, a Seattle-based venture capital firm, announced it raised $690 million across two oversubscribed funds for technology startups based in the Pacific Northwest and beyond. With more than 25 years of experience building companies with founders from pre-seed onward, 100% of existing institutional investors supported the firm's new funds — $430 million Madrona Fund 9 and $260 million Acceleration Fund 3. Madrona Fund 9 will focus on its strategy of supporting Pacific Northwest-based pre-seed, seed, and Series A founders to help them build and scale throughout their company journey. Historically, over 80% of Madrona's core fund portfolio companies are based in the Pacific Northwest. Acceleration Fund 3 will focus on investing in teams that have found product-market fit, generally at the Series B or C stage, and are at a growth inflection point. About half of Madrona's Acceleration Fund companies are in major tech centers across the country, including Silicon Valley, New York City and Salt Lake City. This news follows the appointment Karan Mehandru as Madrona's new managing director. Mehandru, an experienced venture capitalist with strong ties to Seattle, will be based in Madrona's new Palo Alto office.




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