Madrona Venture Group, LLC
A venture capital firm that teams with technology entrepreneurs to nurture ideas from startup to market success.
In the firm's own words, from its website.
51 additional team members, 37 additional co-investors and affiliates, 209 additional investments, funds and LPs, 33 events, 1 verified contact (1 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 8 companiesnew in 12 months
8 new companies in the last 12 months.
A firm writing cheques this quarter is one a founder can pitch now.
- 4 companiesportfolio raising
4 portfolio companies have new financing on record in 6 months without this firm named on the round; the latest on 1 Sep 2026 ($18.5M sold on Form D).
A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.
- 10 dealswith Menlo Ventures
Invests most often alongside Menlo Ventures (10 shared deals) and Sequoia Capital (7 shared deals).
pair last observed on record 30 Sep 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
People to know
View all people- Managing DirectorWhy: Managing directorNo route on file yet
- Managing DirectorWhy: Managing directorNo route on file yet
- Managing DirectorWhy: Managing directorNo route on file yet
Relationship network
294 connected entities38 observed rounds12 repeat counterparties1 dated round shown here, 2025
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to Madrona Venture Group, LLC: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to Madrona Venture Group, LLC
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
187 companies on record, 8 new in 12 months
Investments on record
What these amounts mean“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| » Security | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Firm website |
| AI & Intelligent Apps | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Firm website |
| AI-Enabled Biotech | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- Sectors
- ai, enterprise software, biotech, consumer, marketplaces, deep tech, media
- Stages
- seed
- Geography
- bay area, seattle
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
56 current, 2 departed
Decision makers
- Karan Mehandru · Managing DirectorWhy this person: Managing director; Named with investment responsibility
- Matt McIlwain · Managing DirectorWhy this person: Managing director; Named with investment responsibility
- Scott Jacobson · Managing DirectorWhy this person: Managing director; Named with investment responsibility
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Director · 16 deals attributed
- Managing Director · 5 deals attributed
- Managing Director · 4 deals attributed
3 departed (kept with end dates)
- Greg Gottesman · Managing Director · Oct 1, 1999 to Mar 29, 2016 Inference
- Len Jordan · Managing Director · Jan 1, 2012 to Mar 28, 2024 Inference
- TOM a Alberg · Managing Director · Oct 1, 1999 to Mar 28, 2023 Inference
Contacts
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
32 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Madrona Venture Fund X, L.P. | Fund | 2025 form d first sale | Newly closed | $478M Mar 31, 2026 | 187 | $490M of $490M | Jan 30, 2025 |
| Madrona Acceleration Fund IV, L.P. | Fund | 2025 form d first sale | Newly closed | $269M Mar 31, 2026 | 165 | $269M of $269M | Jan 30, 2025 |
| Madrona Acceleration Fund Iv-A, L.P. | Feeder or parallel | 2025 form d first sale | Newly closed | $5.8M Mar 31, 2026 | 73 | $5.8M of $5.8M | Jan 30, 2025 |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| The Leon Levine Foundation | FOUNDATION | Madrona Venture Fund IV, LP | $1.3M fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
| Surdna Foundation Inc | FOUNDATION | Madrona Venture Fund X, L.P. | $80,575 fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
| Ewing Marion Kauffman Foundation | FOUNDATION | Madrona Venture Fund IV, LP | $15.4M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
123 co-investors · on 2 other DFX graphs
Co-investors
- 2026-09-3010 shared deals · very strong
- 2026-10-017 shared deals · strong
- 2026-10-016 shared deals · strong
Across DFX and the capital chainon 2 other DFX graphs · 5 capital paths ShowHide
- The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Madrona Venture Group, LLC is the same institution as 2 records in Allocators and RIA and Wealth.
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Madrona Venture Group, LLC sits on 5 traced paths of capital across the graphs.
DFX traced 5 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
38 dated events, 71 observations from 3 sources
Timeline
- Mar 31, 2026Madrona Venture Fund X-A, LP first reported on Form ADV by Madrona Venture Group, LLC (Venture Capital Fund), GAV $5,641,940
- Mar 31, 2026Madrona Venture Fund X, LP first reported on Form ADV by Madrona Venture Group, LLC (Venture Capital Fund), GAV $478,398,081
- Mar 31, 2026Madrona Acceleration Fund Iv-A, LP first reported on Form ADV by Madrona Venture Group, LLC (Venture Capital Fund), GAV $5,763,592
- Mar 31, 2026Madrona Acceleration Fund IV, LP first reported on Form ADV by Madrona Venture Group, LLC (Venture Capital Fund), GAV $268,968,037
- Mar 28, 2024LEN Jordan (Managing Director) no longer on Schedule A of Madrona Venture Group, LLC
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 31, 2026 · 24 private fundsShowHide
- Headquarters
- Seattle, WAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- MADRONA.COM
- SEC adviser type
- Exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- Venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 24 (24 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $4.3Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Classification history
Every classification this record has carried3 on recordShowHide
- Sep 23, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $4.3B across 32 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $4.3B across 32 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $4.3B across 22 vehicles
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | Mar 31, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 28, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 28, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-02-17 | Mar 31, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-02-17 | Mar 28, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-28 | Mar 28, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 31, 2026 | Fact | Form ADV |
| SEC status effective | 2012-02-17 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 28, 2024 | Fact | Form ADV |
| Business phone | Mar 31, 2026 | Fact | Form ADV | |
| Business phone | Mar 28, 2024 | Fact | Form ADV | |
| Contact page url | Sep 30, 2026 | Fact | ||
| Contact page url | Sep 16, 2026 | Fact | ||
| Description | Sep 30, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 13, 2026 | Fact | ||
| Headquarters | Seattle, WA | Mar 31, 2026 | Fact | Form ADV |
| Headquarters | Seattle, WA | Mar 28, 2024 | Fact | Form ADV |
| Office address | Mar 31, 2026 | Fact | Form ADV | |
| Office address | Mar 28, 2024 | Fact | Form ADV | |
| Legal form | Limited Liability Company | Mar 31, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Mar 28, 2024 | Fact | Form ADV |
| Portfolio page | Sep 30, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 13, 2026 | Fact | ||
| Private funds reported | 24 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 24 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 22 | Mar 28, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $4.3B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $4.3B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $4.3B | Mar 28, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Mar 31, 2026 | Fact | Form ADV |
| Stated geography | bay area, seattle “geography words on the home page” | Sep 30, 2026 | Fact | |
| Stated geography | bay area, seattle “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | bay area, seattle “geography words on the home page” | Sep 13, 2026 | Fact | |
| Stated sectors | AI, enterprise software, biotech, consumer, marketplaces, deep tech, media “sector words on the home page” | Sep 30, 2026 | Fact | |
| Stated sectors | AI, enterprise software, biotech, consumer, marketplaces, deep tech, media “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | AI, enterprise software, biotech, consumer, marketplaces, deep tech, media “sector words on the home page” | Sep 13, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 30, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 13, 2026 | Fact | |
| Team page | Sep 30, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 13, 2026 | Fact | ||
| Venture funds reported | 24 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 24 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 22 | Mar 28, 2024 | Fact | Form ADV |
| Website | Mar 31, 2026 | Fact | Form ADV | |
| Website | Mar 28, 2024 | Fact | Form ADV | |
| Site title | Sep 30, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 13, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShowHide
Venture manager, reported GAV $4.3B across 32 vehicles
- importance
- gav: 0.8 · funds: 1 · people: 1 · investments: 0.91 · co investors: 0.84
- active deployment
- investments 12m: 1 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-09-29
- emerging manager
- fund count: 35 · reported gav: $4.3B · first adv filing: 2012-02-17 · years since first filing: 14.6
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Fits
- score 54.8confidence 100%Why: sector fit; geography fit; activity; analogousWatch: adjacent portfolio
- score 45.6confidence 100%Why: sector fit; geography fit; activity; analogousWatch: adjacent portfolio
- score 43.8confidence 100%Why: sector fit; geography fit; activity; analogousWatch: adjacent portfolio
+6 more scored matches
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.
Record history
- Merged in2026-09-14
- Adviser's first ADV filing2012-02-17source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.