Bonfire Ventures

Bonfire Ventures is a Los Angeles-based seed-stage venture capital firm that leads seed rounds in AI-native business-to-business companies. Its investment focus spans B2B software, software infrastructure, software-powered services and artificial intelligence. The firm typically commits $2m–$6m as an initial investment and leads approximately 95% of the rounds it joins, reserving capital for follow-on financings as portfolio companies progress to later stages. It makes fewer than 12 investments a year.

The firm reports more than $1bn in assets under management and more than $18bn in exit value across companies its team has backed. Its team has participated in more than 300 seed rounds and has over two decades of experience investing in business software. Investments and outcomes associated with the team include The Trade Desk, TaxJar, MNTN and Scopely.

Support for founders is described as hands-on, including guidance on business decisions and introductions to relevant expertise, with the firm concentrating its time on a select group of companies. Bonfire Ventures has also built Bonnie, an AI-powered knowledge base that makes the firm's experience and knowledge available to founders it works with.