Len Jordan

2011 was a busy year for Madrona Venture Group, with the Seattle venture capital firm bankrolling 14 new startup companies.  Now, Madrona — which incubated four new companies at its offices — is gearing up for even bigger things.

The firm today is announcing that three investment professionals — Len Jordan, Tim Porter and Scott Jacobson — have been appointed as managing directors.

That’s the highest ranking position at Madrona, a title held previously by just five partners.

Tim Porter

The last time Madrona added a managing director was in 2009 when former aQuantive CEO Brian McAndrews joined the firm. Adding three at one time may signal bigger things ahead for the firm, a backer of companies such as Redfin, Cheezburger, Zapd, Decide and AppFog.

Founded in 1995 as a loose network of angel investors, Madrona now manages $650 million. Its last fund — the $250 million fund IV — was raised in 2008. Given the life cycles of venture funds and the active investment pace over the past year at Madrona, it is likely that the firm will try to raise a new fund in the near future.

Scott Jacobson

The new managing directors have ties to some of Seattle’s most successful technology companies. Jordan, who joined Madrona in 2010 from Frazier Technology Ventures, previously served as a senior vice president at RealNetworks. Jacobson previously worked at Amazon.com, and Porter spent time in the corporate development group at Microsoft.

“We are excited about expanding our Managing Director group and will continue investing in the best early-stage technology companies and the amazing innovation ecosystem in the Pacific Northwest,” said Madrona’s Matt McIlwain in a statement.

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  • http://www.nosnivelling.com daveschappell

    Congrats to Scott, Tim and Len. As my board member, Scott has been my strongest advocate (back to the investment itself) and has been an incredible/consistent advisor, through good times and bad. And Madrona has been an amazing partner, providing so much more than capital through their advice, introductions, and more. Because I’ve been somewhat occupied with TeachStreet, I wasn’t aware of the volume of 2011 investment activity by Madrona in the Pacific Northwest — that’s great for Seattle/Portland/Vancouver business, and even greater for the development of entrepreneurs and teams. I remain a huge Madrona fan — they’ve delivered on everything and more. If you’re an entrepreneur in the PNW, going with another firm would be a mistake IMO (of course, it’s always good to have a few other term sheets, so you can screw them down on terms ;-) )

    • AdamTratt

      Well put, Dave. +1 for Scott, also a Giant Thinkwell board member and the rest of Madrona who have been great partners. Congrats Tim, Scott, and Len!

  • http://blog.daryn.net daryn

    Congrats Scott, Tim and Len!

  • http://twitter.com/aceliu Andy Liu

    Congrats Scott, Tim, and Len! It’s been great having Scott as an observer at BuddyTV and Greg as a board member. Never easy building a company, but having Madrona as advocates has been hugely useful. Well deserved Scott.

  • Bryan Starbuck

    Congrats to Tim, Scott and Len!

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  • Mike Mcsherry

    Congrats guys.  Love to see the Seattle venture community becoming stronger.  Benefits everyone.  Let’s just keep coming up with the smart ideas/companies to give them funding opps!  

    Does this mean you now have bigger checkbooks and need to start opening them more frequently :-)

  • Anonymous

    Well-deserved and congrats Scott, Tim and Len. Decide.com is fortunate to have Scott as an observer and Tim and Len have been supportive and helpful. Madrona has a remarkable team and position in PNW tech.

  • http://twitter.com/nickhuzar Nick

    Congrats!  Great guys

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