Bonfire Ventures is a seed-stage venture capital firm that invests only in B2B software, and says it backs founders building AI-native B2B software companies. The firm states that it leads nearly every round it does, invests $2M to $6M at seed, makes about ten to twelve new investments a year, and continues to invest as companies grow. Its team page describes an initial cheque of $2M to $4M as the first institutional cheque. It says it leads roughly 95 percent of its rounds with a board seat. It runs two fund families: the numbered Bonfire Ventures core seed funds and the Bonfire Ventures Select opportunity funds. It operates from Los Angeles.
2017
Jim Andelman and Mark Mullen found Bonfire Ventures in Los Angeles, bringing together Andelman's Rincon Venture Partners and Mullen's Double M Partners after a run of co-investments.
2018
Bonfire Ventures closes its first core seed fund at $60M, reported by TechCrunch on 29 January 2018.
2018
Bonfire Ventures Select I, LP files its first Form D on 20 September 2018, establishing the firm's separate opportunity fund family.
2022
The firm announces on 31 May 2022 that it has raised its third core seed fund at $168M and its second opportunity fund, Bonfire Ventures Select II, at $63M, for a combined total of over $230M.
2025
MNTN, a company whose 2011 seed round Jim Andelman led at predecessor firm Rincon Venture Partners, goes public on the NYSE on 22 May 2025; Andelman resigned from the MNTN board on 23 February 2025 per the company's 2026 proxy statement.
2025
Bonfire Ventures IV, LP files a Form D on 19 February 2025 reporting $240.3M sold, and the firm announces Bonfire IV at $245M in commitments on 20 February 2025, stating it now manages over $1 billion in assets including predecessor-firm funds.
2025
Tyler Churchill is announced as the firm's newest Partner in a post dated 30 July 2025 that also marks the activation of Fund IV.