More capital for Pacific Northwest startups: Founders’ Co-op raises $50M fund, its largest yet
March 1, 2021 at 10:47 am
Founders’ Co-op Managing Partner Chris DeVore (left) and General Partner Aviel Ginzburg. (Founders’ Co-op Photo)
Seattle venture capital firm Founders’ Co-op, an early backer of billion-dollar companies such as Remitly, Outreach, and Auth0, has raised a $50 million fund to help fuel another batch of Pacific Northwest startups.
It’s the firm’s fifth and largest fund to date since launching in 2008, and is double the size of the fourth fund raised in 2018.
Founders’ Co-op will continue betting on early-stage startups across Seattle, Portland, Vancouver B.C. and elsewhere. It raised a larger fund in part to write bigger checks, given increasing round sizes and the firm leading more rounds, said Chris DeVore, managing partner at Founders’ Co-op. It plans to invest in 20-to-25 companies out of the fund.
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Madrona Venture Group raises $345M for 8th fund, its largest ever, and $161M for 2nd later-stage fund
December 31, 2020 at 9:58 am
Madrona Venture Group managing directors from L to R: Tim Porter, Matt McIlwain, Len Jordan, Tom Alberg, S. Somasegar (Soma), Hope Cochran, Steve Singh, Scott Jacobson, and Paul Goodrich. (Madrona Photo)
Madrona Venture Group has raised more than $500 million in fresh capital that the 25-year-old Seattle venture capital firm will use to bankroll both early and later-stage startups. It marks the firm’s largest fundraising effort.
Madrona reeled in $345 million for its eighth fund money that it will use to invest in 35-to-40 Pacific Northwest tech startups over the next several years. It also raised $161 million for its second “Acceleration Fund,” designed for more mature companies located across North America.