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Venture Capital
madrona.com

Investments

649

Portfolio Exits

133

Funds

30

Partners & Customers

2

Service Providers

3

About Madrona Venture Group

Madrona Venture Group funds technology companies primarily in the Northwest, specializing in seed and early-stage investments. The firm is an active investor, dedicated to partnering with entrepreneurs and leveraging its team's relationships and business, technology, and financial experience to create long-term value. Madrona seeks out companies that solve customer problems in groundbreaking ways and offer opportunities for significant financial return. The firm invests early and prefers to lead financings. Madrona has a long-term approach and works closely with portfolio companies as they move from product development to early customers and revenue traction, and then to profitability and liquidity. It was founded in 1995 and is based in Seattle, Washington.

Headquarters Location

999 Third Avenue 34th Floor

Seattle, Washington, 98104,

United States

206-674-3000

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Latest Madrona Venture Group News

Synthesize Bio Launches with $10M Seed Round to Accelerate Generative Genomics

Oct 1, 2025

Funding led by Madrona with participation from AI2 Incubator, Sahsen Ventures, Inner Loop Capital and Point Field Partners Synthesize Bio is actively engaging with biopharma partners to enable more confident drug development decisions using generative genomics GEM-1 foundation model now available at Synthesize Bio and through R and Python API clients SEATTLE–( BUSINESS WIRE )–Synthesize Bio, a biotechnology company pioneering biological foundation models to simulate the results of gene expression experiments, today announced a $10 million seed round led by Madrona, with participation from Sahsen Ventures, Inner Loop Capital, Point Field Partners, and AI2 Incubator. The funding will accelerate the development of Synthesize Bio's generative genomics models and expand access for biopharmaceutical companies and researchers. “Biopharma companies need rich, representative data to identify new drug targets, validate drug safety and efficacy, and power foundation models. Our models help scientists predict the results of new and currently impossible experiments to move their science forward much faster and much more cost effectively,” said Rob Bradley, PhD, Co-founder of Synthesize Bio. Synthesize Bio has built Generate Expression Model-1 (GEM-1), a generative genomics foundation model trained on one of the most deeply curated RNA-seq datasets ever assembled. The company's recent publication demonstrates GEM-1's ability to generate in silico data that matches wet lab experiments directly from experimental design descriptions. This achievement represents a new paradigm of “generative genomics” in which high fidelity generative models augment laboratory results, predict future experimental results and clinical trial outcomes, and ultimately accelerate innovation. Founded by Dr. Bradley and Jeff Leek, PhD, Synthesize Bio empowers researchers to accelerate drug discovery and other applications that rely on gene expression data, without being limited by the scarcity or bias of lab or clinical datasets. Dr. Leek is the J Orin Edson Foundation Endowed Chair and Chief Data Officer at Fred Hutchinson Cancer Center where his work focuses on RNA informatics. He has spearheaded major efforts to assemble, normalize, and combine disparate RNA datasets from researchers around the globe into the largest combined dataset available. He was named to the Time AI 100 2025 list for his work bringing cancer centers together to federate patient data. Dr. Bradley is the McIlwain Family Endowed Chair and Director of the Translational Data Science Integrated Research Center at Fred Hutchinson Cancer Center. His research has revealed that RNA dysregulation is a common cause of cancer initiation and identified new therapeutics for treating these cancers. “Madrona's investment builds on our longstanding thesis at the intersection of AI and life sciences. We believe Synthesize Bio represents a transformative shift in how biopharma and researchers efficiently discover and develop new therapies,” said Matt McIlwain, Madrona Managing Director. “Rob, Jeff, and the team are uniquely equipped to bring generative genomics into practice, and we are thrilled to partner with them.” The Generate Expression Model-1 (GEM-1) The performance of Synthesize Bio's first-generation foundation model is described in a preprint available on bioRxiv . It describes GEM-1's successful prediction of the results of laboratory experiments that were performed after its training data cutoff as well as the AI-powered generation of data from large clinical cohorts, providing the first indication that novel studies performed fully in silico can produce results comparable to those from a wet lab or clinical trial. The Synthesize Bio team is developing partnerships with biopharma teams to accelerate drug development using their foundation models. These partnerships leverage the company's foundation models to de-risk the entire clinical pipeline, from identifying high-confidence targets to simulating therapeutic responses and optimizing clinical trial design. Access to the GEM-1 foundation model is now available at Synthesize Bio and through R and Python API clients. About Synthesize Bio Synthesize Bio is pioneering the use of AI for generative genomics. Its first foundation model, Generate Expression Model-1 (GEM-1), is built on the world's most comprehensive annotated gene expression data. GEM-1 can generate gene expression data based on experimental design descriptions of future and even currently impossible experiments for scientific discovery and drug development. Founded by Fred Hutchinson Cancer Center scientists Rob Bradley and Jeff Leek, the company's platform provides the world's leading generative genomics RNA-seq data to power generative genomics and AI-native biopharma innovation. Additional information can be found at www.synthesize.bio About Madrona Madrona ( www.madrona.com ) is a Seattle-based venture capital firm with 30 years of experience investing in early-stage technology companies. Madrona partners with founders from day one, providing long-term support to build innovative, industry-leading businesses for the long run. The firm has more than $3 billion under management, and was an early investor in companies such as Amazon, Snowflake, UIPath, Rover, Redfin, and Smartsheet. Rooted in the Pacific Northwest, Madrona also backs companies across the country, focusing on sectors such as AI, intelligent applications, and life sciences. Contacts Business Development: partnerships@synthesize.bio Press: synthesizebio@tenbridgecommunications.com (c)2025 Business Wire, Inc., All rights reserved.

Madrona Venture Group Investments

649 Investments

Madrona Venture Group has made 649 investments. Their latest investment was in Anzen as part of their Series A - II on November 13, 2025.

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Madrona Venture Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/13/2025

Series A - II

Anzen

$16M

No

Andreessen Horowitz, MS&AD Ventures, Sandbox Industries, SNR Ventures, Tokio Marine Future Fund, and Undisclosed Investors

3

11/12/2025

Series A

WisdomAI

$50M

No

7

10/22/2025

Series A - II

Eyconis

$25M

Yes

1

10/9/2025

Seed VC

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$XXM

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10

9/30/2025

Seed VC

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$XXM

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10

Date

11/13/2025

11/12/2025

10/22/2025

10/9/2025

9/30/2025

Round

Series A - II

Series A

Series A - II

Seed VC

Seed VC

Company

Anzen

WisdomAI

Eyconis

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Amount

$16M

$50M

$25M

$XXM

$XXM

New?

No

No

Yes

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Co-Investors

Andreessen Horowitz, MS&AD Ventures, Sandbox Industries, SNR Ventures, Tokio Marine Future Fund, and Undisclosed Investors

Sources

3

7

1

10

10

Madrona Venture Group Portfolio Exits

133 Portfolio Exits

Madrona Venture Group has 133 portfolio exits. Their latest portfolio exit was Peach on October 18, 2025.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/18/2025

Acquired

$XXM

3

9/12/2025

Reverse Merger

$XXM

5

9/2/2025

Acquired

$XXM

15

5/20/2025

Acquired

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$XXM

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10

1/24/2025

Acquired

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$XXM

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10

Date

10/18/2025

9/12/2025

9/2/2025

5/20/2025

1/24/2025

Exit

Acquired

Reverse Merger

Acquired

Acquired

Acquired

Companies

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Valuation

$XXM

$XXM

$XXM

$XXM

$XXM

Acquirer

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Sources

3

5

15

10

10

Madrona Venture Group Acquisitions

1 Acquisition

Madrona Venture Group acquired 1 company. Their latest acquisition was Direct Travel on April 02, 2024.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/2/2024

Debt

$XXM

Acq - Fin - III

4

Date

4/2/2024

Investment Stage

Debt

Companies

Valuation

$XXM

Total Funding

Note

Acq - Fin - III

Sources

4

Madrona Venture Group Fund History

30 Fund Histories

Madrona Venture Group has 30 funds, including Madrona Fund X.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/23/2025

Madrona Fund X

2

1/23/2025

Madrona Acceleration Fund IV

2

9/13/2022

Madrona Venture Fund IX

$430M

1

9/13/2022

Madrona Acceleration Fund III

$XXM

10

12/16/2021

Madrona Fund VII Extension Fund

$XXM

10

Closing Date

1/23/2025

1/23/2025

9/13/2022

9/13/2022

12/16/2021

Fund

Madrona Fund X

Madrona Acceleration Fund IV

Madrona Venture Fund IX

Madrona Acceleration Fund III

Madrona Fund VII Extension Fund

Fund Type

Status

Amount

$430M

$XXM

$XXM

Sources

2

2

1

10

10

Madrona Venture Group Partners & Customers

2 Partners and customers

Madrona Venture Group has 2 strategic partners and customers. Madrona Venture Group recently partnered with Microsoft, and Notion Capital on October 10, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

10/10/2017

Partner

United States, and United Kingdom

Microsoft Ventures announces Innovate.AI, a global search for startups shaping the future of AI

`` Through this partnership with Microsoft , we are excited to meet entrepreneurs who are harnessing AI to redefine entire industries on a massive scale . ''

2

Partner

United States

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10

Date

10/10/2017

Type

Partner

Partner

Business Partner

Country

United States, and United Kingdom

United States

News Snippet

Microsoft Ventures announces Innovate.AI, a global search for startups shaping the future of AI

`` Through this partnership with Microsoft , we are excited to meet entrepreneurs who are harnessing AI to redefine entire industries on a massive scale . ''

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Sources

2

10

Madrona Venture Group Service Providers

3 Service Providers

Madrona Venture Group has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

Madrona Venture Group Team

17 Team Members

Madrona Venture Group has 17 team members, including current Founder, Managing Director, Paul Goodrich.

Name

Work History

Title

Status

Paul Goodrich

Founder, Managing Director

Current

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Name

Paul Goodrich

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Work History

Title

Founder, Managing Director

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Status

Current

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