• Tech News
    • Games
    • Pc & Laptop
    • Mobile Tech
    • Ar & Vr
    • Security
  • Startup
    • Fintech
  • Reviews
  • How To
What's Hot

Elementor #32036

January 24, 2025

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

April 18, 2024

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

April 16, 2024
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram Pinterest VKontakte
Behind The ScreenBehind The Screen
  • Tech News
    1. Games
    2. Pc & Laptop
    3. Mobile Tech
    4. Ar & Vr
    5. Security
    6. View All

    Bring Elden Ring to the table with the upcoming board game adaptation

    September 19, 2022

    ONI: Road to be the Mightiest Oni reveals its opening movie

    September 19, 2022

    GTA 6 images and footage allegedly leak

    September 19, 2022

    Wild west adventure Card Cowboy turns cards into weird and silly stories

    September 18, 2022

    7 Reasons Why You Should Study PHP Programming Language

    October 19, 2022

    Logitech MX Master 3S and MX Keys Combo for Business Gen 2 Review

    October 9, 2022

    Lenovo ThinkPad X1 Carbon Gen10 Review

    September 18, 2022

    Lenovo IdeaPad 5i Chromebook, 16-inch+120Hz

    September 3, 2022

    It’s 2023 and Spotify Still Can’t Say When AirPlay 2 Support Will Arrive

    April 4, 2023

    YouTube adds very convenient iPhone homescreen widgets

    October 15, 2022

    Google finishes iOS 16 Lock Screen widgets rollout w/ Maps

    October 14, 2022

    Is Apple actually turning iMessage into AIM or is this sketchy redesign rumor for laughs?

    October 14, 2022

    MeetKai launches AI-powered metaverse, starting with a billboard in Times Square

    August 10, 2022

    The DeanBeat: RP1 simulates putting 4,000 people together in a single metaverse plaza

    August 10, 2022

    Improving the customer experience with virtual and augmented reality

    August 10, 2022

    Why the metaverse won’t fall to Clubhouse’s fate

    August 10, 2022

    How Apple privacy changes have forced social media marketing to evolve

    October 16, 2022

    Microsoft Patch Tuesday October Fixed 85 Vulnerabilities – Latest Hacking News

    October 16, 2022

    Decentralization and KYC compliance: Critical concepts in sovereign policy

    October 15, 2022

    What Thoma Bravo’s latest acquisition reveals about identity management

    October 14, 2022

    What is a Service Robot? The vision of an intelligent service application is possible.

    November 7, 2022

    Tom Brady just chucked another Microsoft Surface tablet

    September 18, 2022

    The best AIO coolers for your PC in 2022

    September 18, 2022

    YC’s Michael Seibel clarifies some misconceptions about the accelerator • DailyTech

    September 18, 2022
  • Startup
    • Fintech
  • Reviews
  • How To
Behind The ScreenBehind The Screen
Home»Startup»Madrona Venture Group opens Silicon Valley office as it looks beyond Seattle for new investments – Startup
Startup

Madrona Venture Group opens Silicon Valley office as it looks beyond Seattle for new investments – Startup

August 31, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Madrona Venture Group opens Silicon Valley office as it looks beyond Seattle for new investments – GeekWire
Share
Facebook Twitter LinkedIn Pinterest Email
Madrona Venture Group team photo from 2021. (Madrona Photo)

Seattle-based Madrona Venture Group is doubling down on a recent push to invest beyond the Pacific Northwest, opening its first office outside the region in Silicon Valley.

Founded in 1995, Madrona traditionally focused on its backyard of Seattle and the Pacific Northwest, becoming one of the area’s largest investors of tech companies including Apptio, Smartsheet, Impinj, and others.

But in 2019 the firm launched an “acceleration fund” designed for more mature companies located across North America. It raised $100 million that year for the fund and added another $161 million in late 2020.

The move to open a physical outpost outside of Seattle reflects Madrona’s ongoing desire to look beyond its backyard for new investments and keep tabs on other tech ecosystems.

It’s a similar strategy followed by Flying Fish, another Seattle firm that raised its second fund earlier this year and said it would expand its geographic reach.

Madrona is “first and foremost a Seattle firm,” said S. Soma Somasegar, a former Microsoft exec who became managing director in 2015. The firm will continue making a vast majority of its early stage investments in the Pacific Northwest, which set records for funding levels last year.

But Somasegar also said “we want to get into the best of the best companies.” Planting a flag in Silicon Valley helps fuel that goal.

“We are going to be more open to getting into those companies, no matter where they are,” he said.

About 15% of Madrona’s portfolio consists of companies based outside the Pacific Northwest, and half of the “acceleration fund” has gone toward out-of-town companies. Some of its recent non-Seattle investments include fintech company Sila; travel software startup Spotnana; and revenue operations platform Clari. It has also backed later-stage companies such as UiPath and Snowflake.

See also  Seattle startup goals to make it simpler to spend money on social or environmental influence corporations – Startup

“We want to be a world class firm,” said Somasegar. “And whatever that means for us to be world class, we will be doing that.”

Karan Mehandru will lead Madrona’s new Silicon Valley office. (Madrona Photo)

The 50-person firm is facing more competition for early-stage deals in the Seattle region, with new groups such as Fuse, Flying Fish, Pioneer Square Labs and others raising sizable funds in recent years.

“I’m really excited about these funds,” Somasegar said. “Sometimes we are going to compete; sometimes we are going to partner. But this really enables us to have a bigger ecosystem, which is just fantastic from any dimension you look at it.”

There are also out-of-town venture capitalists increasingly looking at the Seattle area for new investments.

Somasegar said the shift to remote work amid the pandemic helped Madrona get even more comfortable with backing companies outside of Seattle.

The firm also just hired its first out-of-town managing director. The Palo Alto, Calif., office, located at 524 Hamilton, will open next month and be led by Karan Mehandru, who just joined Madrona as the firm’s newest managing director.

Mehandru was previously was a venture capitalist at New York-based Steadfast Capital and Menlo Park, Calif.-based Trinity Ventures, a backer of Seattle-area giants including Auth0 and Outreach. He’ll focus on “early and acceleration stage companies based anywhere in North America, with a focus on SaaS, Future of Work, ML/AI, intelligent applications, developer focused tools and datacenter infrastructure,” Mehandru wrote in a blog post.

Madrona in 2020 raised $345 million for its eighth “core” fund, which is focused on Pacific Northwest companies. Last year it added $120 million for a “Fund VII Extension Fund” from investors who previously backed its $300 million seventh fund raised in 2018.

See also  11 Roadblocks To Success Many Entrepreneurs Are Facing Today



Source link

group Investments Madrona office opens Seattle Silicon Startup Valley Venture
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Multiple Milestones As New Majority Capital Boosts Entrepreneurship Through Acquisition

September 26, 2023

Getty Images Plunges Into the Generative AI Pool

September 26, 2023

3 Hot Startup Opportunities In Augmented Reality

September 26, 2023

The ChatGPT App Can Now Talk to You—and Look Into Your Life

September 25, 2023
Add A Comment

Comments are closed.

Editors Picks

Meta Connect Dev Conference to Be Held Virtually on October 11th – Road to VR

September 6, 2022

Xbox Game Pass Friends & Family Plan detailed with pricing

September 4, 2022

PlayStation VR2 encompasses a see-through view, broadcasting possibility, and cinematic mode

July 27, 2022

8 Signs That Tesla May Be Peaking

July 12, 2022

Subscribe to Updates

Get the latest news and Updates from Behind The Scene about Tech, Startup and more.

Top Post

Elementor #32036

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

Behind The Screen
Facebook Twitter Instagram Pinterest Vimeo YouTube
  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2025 behindthescreen.uk - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.