Madrona Venture Group to Invest $300 Million in Pacific Northwest Startups—Including Canada

by Rob Lewis | Business

Seattle's Madrona Venture Group announced earlier this week that it will invest $300 million in Pacific Northwest startups. The company exceeded its $250 million target for Fund V, which is its largest ever.

Among Madrona's portfolio is two Canadian startups from Vancouver: Indochino and RewardLoop. Madrona led a $4 million round for the men's apparel e-commerce startup in 2011 and returned to Canada last month to invest $1 million in the mobile loyalty platform.

So does this mean that Madrona will be sprinkling some of its new fund North of the border? Considering that US VCs now find Canada "sexy," I say yes. But what are they looking for?

Matt McIlwain, one of Madrona’s seven managing directors, told TechFlash that "cloud computing is a big area of focus for us."

McIlwain said companies that are bridging the gap between the physical world and the digital world using mobile devices and augmented reality concepts are particularly interesting to Madrona investors right now.

He also said Madrona was interested in seeing companies focusing on big data analytics and creating ways to take the huge amount of information mobile devices create and turn it into something companies can use.

Company:
Indochino Apparel Inc.
Location:
Vancouver, British Columbia, Canada

Indochino is at the forefront of revolutionizing men’s fashion. Since our founding, we have grown to be one of the largest made to measure menswear brands on the market by providing gentlemen with high quality menswear that makes them look and feel like a million bucks. Our multi-channel customer experience allows men to order their made to measure shirts and suits online, via mobile or... more

Company:
Madrona Venture Group
Location:
Seattle, Washington, United States

Madrona Venture Group invests in companies building the new "next," be it upgrading the backbone of technology, creating new business models on the Web, or changing the status quo of communications. You bring the idea, the technology, and enthusiasm. We'll do our part in helping you to realize your vision. We are a resource-rich venture firm that helps companies realize their full potential... more

Company:
RewardLoop
Location:
Vancouver, British Columbia, Canada

RewardLoop (formerly QR Loyalty) provides card-less loyalty programs for the mobile era. The company’s innovations enable merchants of any size to simply and cost-efficiently print QR code-based loyalty transaction identifiers on bills and receipts, which consumers scan with their mobile devices to earn and redeem loyalty rewards. more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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