Seed-stage B2B • AI-native

Lead early.Stay late.

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.

Why Bonfire VC

Ask us anything...

Seed

We lead

$2-6M

First checks

B2B Only

SaaS and AI-native tech

$1B+

AUM

Why Founders Choose Bonfire

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.

B2B is all we do

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.

Our collective knowledge, on demand

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.

Track Record

Companies we’ve backed have created over $18B in exit value, including The Trade Desk, TaxJar, and Scopely.

Reputation

Ask around—we’ve built ours by being the calm, trusted, and clear voice in the moments that matter most.

Learn more about the Founder Experience

THE ONE THING WE CARE ABOUT MOST

The Compounding Loop

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.

Read our thesis

WHO WE BACK

Builder-CEOs who live inside the problem.

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.

See if you’re a fit

Featured Companies

Supio

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.

Why We Invested

SERVICES-TO-SOFTWARE

Juno Tax

AI + PROPRIETARY DATA

Rwazi

Our Latest Highlights

Bonfire-Backed MNTN Soars in NYSE Debut, Valued at $1.2 Billion as Ad-Supported Streaming Booms

May 22, 2025

Business Insider Seed 100 — Jim Andelman

Business Insider Recognizes Jim Andelman as a Top 100 Seed Stage Investor

May 12, 2025

Supio, an AI-powered legal analysis platform, lands $60M series B

April 30, 2025

Founder Feedback.
Unfiltered.

"Partnering with Bonfire was undeniably the best decision we've made at Boulevard."

Matt Danna

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.”

Shannon Kay

Topline Pro

“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.”

Shelia Stafford

Teamsense

“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.”

Zach Vidibor

Octave

“I’m proud to call us a Bonfire company. Some VCs invest in momentum—Bonfire helps create it.”

Ophir Ronen

Calmwave

“Mullen and the Bonfire team are that rare breed of VC—unflinchingly honest, impeccably ethical, and annoyingly right most of the time.”

Lorien Gabel

Figment