Bonfire Ventures Raises $231 Million for Two New Funds

San Francisco – June 16, 2022 – Cooley advised Bonfire Ventures, a venture capital firm investing in seed-stage business-to-business (B2B) software companies, on the closing of its third core seed fund at $168 million and its second opportunity fund at $63 million. Partner Eric Doherty led the Cooley team advising Bonfire Ventures.

Bonfire Ventures’ third fund was considerably oversubscribed, but the firm capped the raise to maintain its proven model of success – providing curated, hands-on partnership to guide B2B software founders through the tumultuous journey from seed to Series A and beyond. Bonfire Ventures will use the new funding to invest in a select number of B2B software companies while providing specialized support for seed-stage B2B software founders at their most critical moments.

Based in Santa Monica, California, Bonfire Ventures goes to work at the seed stage for B2B software founders to help them achieve success and beat the odds that are typically stacked against them. More than 85% of the firm’s portfolio companies have raised follow-on capital, collectively procuring more than $1.15 billion. Launched in 2017 by Jim Andelman and Mark Mullen, Bonfire Ventures’ team brings more than four decades of B2B software and seed-stage investment experience.

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