Madrona Venture Group is adding some serious horsepower.
The Seattle venture capital firm today is announcing the addition of three strategic directors, all of whom at one time held CEO titles at multi-billion dollar technology companies in the Seattle area. The new strategic directors are Isilon co-founder Sujal Patel; F5 Networks CEO John McAdam and Concur CEO Steve Singh.
As part-time strategic directors, the tech execs will assist Madrona’s growing stable of portfolio companies, helping entrepreneurs identify key market opportunities and strike new alliances.
“We have known and worked with these three successful Seattle area CEOs for many years and it’s great to have them more closely helping talented entrepreneurs grow and scale promising companies,” said Madrona’s Matt McIlwain in a statement. “We are also pleased that John, Sujal and Steve share our passion for helping the innovation ecosystem in the Pacific Northwest realize its full potential in the years ahead.”
Madrona has crossed paths with each of the tech execs in various roles. For example, McAdam serves on the board of Apptio, a Bellevue-based enterprise software company bankrolled by Madrona.
Through Concur’s venture capital arm, Singh invested in Seattle-based Buuteeq, which was backed by Madrona prior to its sale to Priceline Group.
And Patel — who orchestrated a remarkable comeback at Madrona-backed Isilon that resulted in a sale to EMC for $2.25 billion in 2010 — sits on the boards of Madrona-backed startups such as ExtraHop Networks and Qumulo.
Madrona’s other strategic directors include Bill Ruckleshaus, Gerald Grinstein and Jack Creighton. The venture firm is playing a significant role in building the Northwest startup ecosystem, investing $101 million in Seattle and Portland area startups last year. Its recent exits include Tier 3 (purchased by CenturyLink); Union Bay Networks (acquired by Apple) and Appature (acquired by IMS).
