Three well-known Seattle investors have emerged at the helm of a mysterious new firm known as Pioneer Square Labs.
Angel investors Geoff Entress and Mike Galgon have joined with venture capitalist Greg Gottesman to create the new firm, which is based at the Galvanize building in Seattle’s Pioneer Square neighborhood. In a SEC filing today, the company notes that it has raised $9.5 million of a $12.5 million round.
Venture capitalist Brad Feld, a partner at Foundry Group and a co-founder of TechStars, is also listed as a director.
Gottesman previously served as a partner at Madrona Venture Group, one of Seattle’s top venture capital firms. He remains a venture partner there, but when Madrona closed a $300 million fund in June, Gottesman announced that he’d be moving to a part-time role as he pursued a new opportunity. That new opportunity now appears to be Pioneer Square Labs.
Entress is one of Seattle’s top angel investors, backing dozens of startup companies, including LiquidPlanner, EnvelopVR and Bonanza. He’s also an early backer of social media management powerhouse HootSuite. Entress previously worked alongside Gottesman at Madrona Venture Group, and now serves as a venture partner at Voyager Capital. Galgon is best known as the co-founder and chief strategy officer at aQuantive, the online advertising giant which sold to Microsoft for $6 billion in 2007, which at the time was the largest acquisition in Microsoft’s history.
Reached today on his cell phone, Gottesman declined to comment directly on Pioneer Square Labs.
Editor’s note: Gottesman plans to share more details about Pioneer Square Labs at the GeekWire Summit on Thursday, Oct. 1.