Madrona

Geoff Entress

Seattle venture capitalists Geoff Entress and Brian Goffman have left Madrona Venture Group, but they aren't straying too far.

Both still continue to work from the venture capital firm's downtown offices.  Goffman, who joined Madrona in April 2006 as a venture partner, is starting a new company. (More on that later.)

Meanwhile, Entress,  who spent the past eight years working in various capacities at Madrona, plans to focus on his portfolio of more than 20 angel investments. That stable of companies includes Dashwire, I Can Has Cheezburger, Sandlot Games and the newly-launched Judy's Book, which I covered yesterday.

Entress said he remains close to Madrona and will continue to funnel deals to the firm where appropriate. He also still occasionally attends partner meetings.

"From my standpoint, it really hasn't changed anything," said Entress, whose last official day was June 30. "I am in the same chair. I am in the same office. I am doing essentially the same thing."

Then why leave?

Entress said it became increasingly difficult to focus on his personal angel investments and his role at Madrona. The 44-year-old former securities lawyer at Perkins Coie already serves as a board member or board observer at eight companies.

Entress always had a bit of an unusual role at Madrona, operating a personal investment fund under the name of Rolling Bay Ventures (named after a bay near Bainbridge Island) while at the same time hanging his shingle at Madrona. In some ways, he's acted as a feeder system to Madrona. Among the investments Entress made through his personal fund are BuddyTV, Isilon Systems and World Wide Packets, all of which led to larger invstments by Madrona.

The bios of Entress and Goffman have been removed from the Madrona site. Asked if their departures signaled a cost-cutting move at Madrona, Entress said "I definitely wouldn't say that." He noted that Madrona has recently added some entrepreneurs-in-residence and part-time people who are looking at new opportunities. 

Editor's note: Hats off to the tipster who left a comment in the Judy's Book post about this news.