Nimble Technology, a developer of Web software for data integration, is also a recent Madrona bet.

FORBES: The McCaw Mafia

Just one problem: Madrona's new fund realized a measly 2.6% internal rate of return in the past year.

FORBES: The McCaw Mafia

He bailed out in 1995 and, with three non-McCaw partners, formed a private fund initially named Madrona Investment Group.

FORBES: The McCaw Mafia

The latest group of enterprise-tech start-ups have "compelling and repeatable" business models, said Matt McIlwain, a venture capitalist at Madrona Venture Group.

WSJ: After Facebook, the Next Wave of Tech IPOs