Investment Criteria & Focus

We lead Seed rounds.

B2B software with recurring revenues already in market with upward traction.

We make initial Seed investments of $2.5M - $4M and reserve 50% of our fund for follow-on capital.

At the time we invest, most companies have a product in market, customers we can talk to, and an annual recurring revenue of at least $500,000.

We look for companies that have a clear competitive advantage and a solution that customers 'need' to have rather than one that's 'nice to have.'

We invest in smart, inspiring founders, with strong technical competence on the founding team.

We strategically invest in 10-12 companies per year, a deliberate choice that reflects our commitment to being high-touch, hands-on investors. This focused approach ensures we can dedicate ample time and resources to each portfolio company, staying true to our values of providing personalized, in-depth support.

We invest in US entity based businesses, regardless of physical location.

We support our founders both inside the boardroom and out, every step of the way. Our partnership starts at Seed, and stays strong through acquisition, IPO, or even if things fizzle out (and you're onto your next venture).

Discover our step-by-step approach and how we collaborate with founders in The Bonfire Way.