Investor profile
Bonfire Ventures
See how your deck fits this investor's thesis, stage, and ticket size.
Analyse your fitInvestment thesis
Bonfire Ventures backs founders reshaping how businesses operate as AI rewires every workflow and every team. With more than $18B in exit value and two decades investing in business software, the firm brings hard-earned pattern recognition from prior platform shifts. Bonfire leads seed rounds exclusively in B2B software — investing $2–4M as the first institutional check in companies with GA products, fast revenue growth, and roughly $30–40K MRR — and commits deeply to a small number of companies (10–12 per year) so founders get the full weight of the team, not just a check. The firm's model is high conviction, low ego, and built to scale companies rather than portfolios. Bonfire leads or co-leads ~95% of its rounds, takes a board seat, and reserves 50% of each fund for follow-on capital, staying engaged from seed through exit. Its current Fund IV thesis centers on AI-powered B2B software and agentic AI applications, with a hard gate requiring founder-CEOs who are personally shipping product with AI tools.
Notable quotes
“We invest in founders who claw their way to the starting line, not the ones with perfect resumes. We assess their grit, how they handle pressure, and their operating skills.”
“We are very much a low-volume, high-conviction, high-support investor. We maintain the bandwidth to be responsive to founders and earn the role of first call when they have a question.”
“We only do one thing… and we're always trying to get better and better at that.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| The Trade Desk | Seed | — | — |
| TaxJar (acquired by Stripe) | Seed | — | — |
| MNTN | Seed | — | — |
| Boulevard | Seed | — | — |
| Scopely (acquired by Savvy Games) | Seed | — | — |
| Spekit | Seed | — | — |
| Topline Pro | Seed | $5m | 2022-10-01 |
| Risotto | Seed | — | 2025-01-01 |
| Abstract | Seed | $5m | 2025-01-09 |
| Rwazi | Series A | $12m | 2025-07-15 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Upfront Ventures | 4 |
| Emergence Capital | 3 |
| Bessemer Venture Partners | 3 |
| Greycroft | 3 |
| Andreessen Horowitz | 2 |
| Impression Ventures | 2 |
Fit check
Is Bonfire Ventures a match for your startup?
Upload your deck and get an instant AI-powered fit analysis — see exactly how your startup aligns with this investor's thesis, stage focus, and ticket size.
Analyse your fit