Bonfire Ventures Raises Over $230M For Two New Funds

Bonfire Ventures

Bonfire Ventures, a Los Angeles, CA-based enterprise capital agency, closes two funds investing in seed-stage B2B software program corporations, totaling over $230m.

The agency closed:

  • its third core seed fund at $168 million, and
  • its second alternative fund, at $63 million.

Co-founded by managing administrators Jim Andelman and Mark Mullen, Bonfire Ventures invests on the seed stage of B2B software program founders. The agency solely invests in a choose variety of corporations, committing to not more than 25 to 30 investments per fund. Bonfire Ventures will use the brand new funding to put money into a choose variety of B2B software program corporations whereas offering specialised help for seed-stage B2B software program founders of their most important moments.

The agency has now raised 5 funds since its founding in 2017 and, together with predecessor funds, has over $1 billion underneath administration. Bonfire’s first two core funds have carried out within the prime 10% of world enterprise capital (VC) funds for his or her respective classic years.

Over 85% of portfolio corporations have raised follow-on capital, collectively elevating over $1.15 billion. Vital exits embrace Moat (acquired by Oracle), The TradeDesk (IPO), TaxJar (acquired by Stripe), EmailAge (acquired by Lexis Nexis), and Openpath (acquired by Motorola).

Bonfire’s third managing director, Brett Queener, joined in 2018 and has over twenty years of direct B2B software program expertise as an working govt for Salesforce.com, Siebel Methods, and extra.

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