Seattle-based venture capital firm Madrona Venture Group has raised $690 million for two new funds, $430 million for "Madrona Fund 9" and $260 million for "Acceleration Fund 3," which it expects to bring to the Acceleration Fund. Half of that is invested in companies in the Pacific Northwest, such as virtual reality company Rec Room. Madrona Venture Group has a history of 27 years. Its current investment themes include modern data stack and DevOps, intelligent applications (applied AI and ML), financial technology, Web3, and life and computer/data science. It has also recently participated in encrypted trading applications Stack, Investment by Web3 data infrastructure provider Spice AI.