DFX Intelligence
Madrona Venture Fund X, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
Newly closedClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
Nothing material in the last 365 days. Last change: 30 Jan 2025, Latest Form D filed on 30 Jan 2025: $490M sold of $490M offered, 160 investors. A Form D amount is what was sold at the filing, never a final close.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2025basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $490Mwhat may be sold, not what was raised; file 021-536853, sworn by the adviser or filed under this vehicle
- Form D sold
- $490Mas of the filing of Jan 30, 2025, 160 investors
- First sale
- Jan 16, 2025
- Reported GAV
- $478Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 187
- Reported on ADV
- unknown
Fundraising evidence
What counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.Closed to new capital
Form D filed or amended 2025-01-30: the stated $489.6M offering reported fully sold (fr-1)
evidence dated Jan 30, 2025.
Lifecycle
Newly closed
Lifecycle
first sale within 24 months; Form D sold out or quiet
first sale: Jan 16, 2025vintage year: 2025adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $490Mform d offering: $490Mform d latest filed at: Jan 30, 2025
The fund's own reporting through time
1 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2026 | Venture Capital Fund | $478M | 187 | $1.0M | 2% |
Principals and agents
1 principal on Form D, 0 placement agents
- LP Madrona Investment Partners X Director
Service providers
1 named on Form ADV Schedule D and Form D
- AuditorDeloitte · SEATTLE, Washington, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Surdna Foundation Inc | FOUNDATION | $80,575 fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
2 events
- Mar 31, 2026Madrona Venture Fund X, LP first reported on Form ADV by Madrona Venture Group, LLC (Venture Capital Fund), GAV $478,398,081Fund first reported on Form ADV Inference Form ADV
- Jan 30, 2025Madrona Venture Fund X, L.P. filed Form D: $489,579,976 sold of $489,579,976, Venture Capital FundForm D filed Fact Form D
Evidence
16 observations
Every observation on this vehicle
- Entity type: Corporation Jan 30, 2025 Fact Form D
- Form D fund type: Venture Capital Fund Jan 30, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 30, 2025 Fact Form D
- Amendment: false Jan 30, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 30, 2025 Fact Form D
- Incorporated: withinFiveYears Jan 30, 2025 Fact Form D
- Jurisdiction: Delaware Jan 30, 2025 Fact Form D
- Amount sold (Form D): $490M Jan 30, 2025 Fact Form D
- Offering amount (Form D): $490M Jan 30, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 30, 2025 Fact Form D
- First sale: 2025-01-16 Jan 30, 2025 Fact Form D
- Investors (Form D): 160 Jan 30, 2025 Fact Form D
- Minimum investment (Form D): 0 Jan 30, 2025 Fact Form D
- Securities offered: pooled Jan 30, 2025 Fact Form D
- Office address: Jan 30, 2025 Fact Form D
- Year of incorporation: 2024 Jan 30, 2025 Fact Form D
Relationships across DFX
on 3 other DFX graphs
Across the graphs
Madrona Venture Fund X, L.P. is the same institution as 3 records in RIA and Wealth, Family Offices and Allocators.
RIA and Wealth1Family Offices1Allocators1
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
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Record history
2 dated events on the change ledger, latest event first
- Fund first reported on ADV2026-03-31source on record
- Form D filed2025-01-30source 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.