We lead and that means something
We lead about 95% of our rounds with a board seat, and back just 10 to 12 companies a year on purpose. High conviction, low volume, so you get the full weight of the team, not just a check.
Seed-stage B2B • AI-native
Bonfire Ventures leads seed rounds for AI-native B2B software companies. We back founders rethinking and rewiring how business gets done. We invest $2–6 million initially and continue investing as you grow.
Seed
We lead
$2-6M
First checks
B2B Only
SaaS and AI-native tech
$1B+
AUM
We lead about 95% of our rounds with a board seat, and back just 10 to 12 companies a year on purpose. High conviction, low volume, so you get the full weight of the team, not just a check.
It's the only thing we invest in. We know the buyer, the playbook, and the messy middle of adoption in a way a generalist never will. The narrower our lane, the more useful we are in it.
Bonnie is our AI-powered knowledge base, built from what we’ve learned across 300+ seed rounds. Every Bonfire founder can access it to surface the right pattern, resource, or connection when they need it.
Companies we’ve backed have created over $18B in exit value, including The Trade Desk, TaxJar, and Scopely.
Ask around—we’ve built ours by being the calm, trusted, and clear voice in the moments that matter most.
THE ONE THING WE CARE ABOUT MOST
We invest exclusively in AI-native B2B technology companies. To us, AI-native means intelligence is foundational to how the product works and improves, not a feature added later. The best of these products get sharper every time they are used.
WHO WE BACK
They turn hard-won domain knowledge into AI-native products that learn from the work. We lead their seed rounds, then stay close as the product, team, and advantage compound.
An agentic platform built for the complexity of personal injury and mass tort law. Supio helps firms handle more cases and pursue better outcomes with the full context of their work.
SERVICES-TO-SOFTWARE
AI + PROPRIETARY DATA
"Partnering with Bonfire was undeniably the best decision we've made at Boulevard."
“They’re thoughtful, no-ego collaborators with deep B2B SaaS expertise—and they consistently go above and beyond to help us build a high-impact company. We're big fans of the entire Bonfire team.”
“Not every chapter of a startup story is glamorous—and Bonfire gets that. In the hard moments, they lean in. No pretense, no posturing—just real commitment to helping you move forward and get back to building something iconic.”
“There's no other investor like Bonfire. It's simple, they show up, they keep their word, and they will grind just as hard as you.”
“I’m proud to call us a Bonfire company. Some VCs invest in momentum—Bonfire helps create it.”
“Mullen and the Bonfire team are that rare breed of VC—unflinchingly honest, impeccably ethical, and annoyingly right most of the time.”
