Former Yahoo vice president Matt Compton has resurfaced as a venture partner for Madrona Venture Group.

Compton, who served as vice president of media and strategic partnerships at Yahoo, is working out of Portland where Madrona is beefing up its presence.

Madrona's Matt McIlwain said the firm was introduced to Compton through a "mutual friend" in the venture capital industry, noting that it was an added bonus that he happened to be relocating to Portland to be near family.

"We actually like having someone on the ground in Portland," said McIlwain, adding that being able to walk or drive to early-stage startups is a "huge advantage." (McIlwain recently returned from meetings in Portland, so it wouldn't surprise me to see a deal emerge down south soon.)

Compton, who has been working closely with Seattle startup Mixpo, officially joined the firm in August. He will assist with both existing and new portfolio companies.

"He's got a very good strategic marketing mind and has a lot of hands-on operational experience in areas that are relevant to our portfolio," said McIlwain.

Compton's appointment comes after two of Madrona's investment professionals -- Brian Goffman and Geoff Entress -- left the firm. Both continue to work closely with Madrona in their new roles.

In addition to Compton, McIlwain said that the firm has named former McKinsey & Company analyst Ayush Agarwal as a venture analyst.

And despite the rocky economy, Madrona continues to invest. It recently backed Optify, Goffman's new startup. And McIlwain says two other deals have closed recently.

Stay tuned for more details.