Thursday, September 10, 2020

Bonfire Ventures Closes Second Fund, Bonfire II

Los Angeles-based Bonfire Ventures has closed its second fund, Bonfire Ventures II, at $100M. According to the firm, the new fund was oversubscribed. The fund is a boost from the firm's last fund, which closed in January of 2017 at $63M. Bonfire says it plans to invest in 25 to 30 companies over a three year investment period, focused on the seed stage of investing. The firm said the larger fund size will go towards a slightly larger initial investment and a slightly higher percentage reserved for follow-ons. Bonfire has backed such companies as ChowNow, TaxJar, Rainforest QA, Earnest Research, Particle, Invoca, EVConnect and Inspire, among many others. Bonfire says its anchor investors include Daher Capital, Foundry Group, Mercer Advisors, Atento Capital, Aspen Grove Capital, and Shea Ventures, along with more than 30 successful startup founders and executives who are also investing in the fund.

---