Seattle-based pre-seed startup incubator Madrona Venture Labs (MVL) has raised $11m for its fifth fund to empower AI founders. Backing comes from a group of tech executives, including Michael Hilton, co-founder of Concur and former chief product officer of Accolade, Joe Beda, co-founder and former CTO of Heptio, and Thomas Dohmke, CEO of GitHub. The funding will target around a dozen companies over the next several years, said MVL’s managing director, Mike Fridgen. To help identify investible founders, Fridgen said the company is seeking individuals with deep domain insights and a passion for problem-solving who prioritise diversifying their initial teams.
Madrona Venture Labs Secures $11 Million to Support Pre-Seed AI Founders
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