Global Big Data Conference

Seattle-based venture capital firm Madrona Venture Group announced today it has raised a bumper $690 million for two oversubscribed funds that will be used to back promising technology startups in the Pacific Northwest region, Silicon Valley and beyond. The $430 million Madrona Fund 9 and the $260 million Acceleration Fund 3 saw 100% of existing institutional investors participate, Madrona said. Combined, they represent an almost 40% increase over the funds Madrona raised in 2020. The funds will be used to invest in technology firms ranging from pre-seed all the way through to Series C startups. Madrona is one of the more prominent of tech-focused venture capital firms, focusing on seed, early-stage and acceleration-stage startups that leverage technology and promise to disrupt huge existing markets.