Maybe it's time that Seattle venture capitalists take a look in the mirror. Or, on second thought, maybe not. TheFunded today released its ranking of the top venture capitalists of 2009, and you had to look far and wide to find a Seattle name on the list. In fact, of the 84 venture capitalists highlighted, I only found two (Steve Arnold of Polaris Venture Partners #9 and Curtis Feeny of Voyager Capital #45) who had any sort of connection to Seattle area firms. (Interestingly, Feeny is based in Voyager's Silicon Valley office, and Arnold has reduced his role at Polaris in recent years. Both also made the list in 2008).

What gives? Are Seattle venture capitalists really that bad when compared to their counterparts in the Bay Area or Boston? Before you answer that question with an anti-VC diatribe or a slam on Seattle, let me explain a few things about the list.

For one, TheFunded compiled the rankings based on the reviews of its entrepreneur and CEO members. That, in and of itself, is a highly subjective measure. But going a step further, there are simply more startups in the Bay Area. And that means more reviews. In order to qualify for the list, a venture capitalist had to have at least five separate reviews.

That means many Seattle area VCs -- such as Draper Fisher's Bill Bryant (no reviews), Madrona's Greg Gottesman (2 reviews), Voyager's Bill McAleer (2 reviews), Ignition's Brad Silverberg (2 reviews), Fluke Venture Partners' Denny Weston (no reviews) and others -- weren't considered.

Venture capitalists love to hate TheFunded, in part because it gives a voice to the entrepreneur who can explain in detail how they were treated at an investment meeting or during an M&A negotiation. Many VCs say that's unfair, since they are -- for the most part -- in the business of telling entrepreneurs "no."

Nonetheless, TheFunded's creator, Adeo Ressi, makes no apologies about the model and says he's just trying to make the business more transparent. And he told us last fall that the VCs who rank high, of course, like the methodology he uses. Here's a look at the top 10

1. Terrance G. McGuire, Managing General Partner at Polaris Venture Partners, rated 5 by 5 CEOs
2. Mark Suster, Partner at GRP Partners, rated 4.8571 by 7 CEOs
3. Andy Fillat, Managing Member at Leapfrog Ventures, rated 4.8333 by 6 CEOs
4. Dan Rua, Managing Partner at Inflexion Partners, rated 4.8 by 5 CEOs
5. Paul H. Klingenstein, Managing Partner at Aberdare Ventures, rated 4.6667 by 9 CEOs
6. Stuart Ellman, Managing Partner at RRE Ventures, rated 4.6667 by 6 CEOs
7. David Sze, Partner at Greylock Partners, rated 4.6429 by 14 CEOs
8. Ross A. Jaffe, Managing Director at Versant Ventures, rated 4.6364 by 11 CEOs
9. Steven D. Arnold, Managing General Partner at Polaris Venture Partners, rated 4.625 by 8 CEOs
10. Brook H. Byers, Partner at Kleiner, Perkins, Caufield & Byers, rated 4.6 by 10 CEO

TechCrunch has the full list here.