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Madrona just announced its biggest fund ever, closing on $770M as other venture funds grow smaller
Seattle-based Madrona Capital is celebrating its 30 years in business by raising $770 million in fresh capital. This is the firm's largest fundraise to
While an 11% capital pool upsize may not seem significant, any increase at a time when many venture outfits are forced to reduce their fund hauls is a sign that limited partners are excited about the firm’s prospects and recent track record. Madrona’s managing director, Matt McIlwain, told TechCrunch that it helped that last year — in a market where exits were few and far between — the firm sold a few portfolio companies and distributed capital to its investors. McIlwain said that the fresh capital will be used to invest in AI applications in domains ranging from travel to life sciences, as well as in infrastructure companies that “can remove friction” between foundational models and users.
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