AI CAPITAL INTELLIGENCE
Bonfire Ventures | Institution profile
Institution at a glance
Bonfire Ventures is a seed-stage investor focused exclusively on B2B software, including AI-native products. It says it leads about 95% of rounds, typically invests USD 2–6 million at seed, backs 10–12 companies a year, and continues supporting founders through Series A and beyond. Its team combines experienced operators and B2B software investors.
Source verification date: · Bonfire’s check range, exit-value figure, and investment activity are firm statements, not audited fund-level returns. Katalyze AI’s USD 10.5 million seed round is the company total, not Bonfire’s individual investment.
Recorded financing connections
- Katalyze AI2026-07-06 · Seed · USD 10,500,000
These are recorded participations, not a complete portfolio or performance score.
Names follow their disclosed form. Descriptive English renderings of Chinese names are not verified legal names. Original quotations are shown in their source language.
Key facts
| Investment focus | B2B software, including AI-native companies. |
|---|---|
| Typical seed check | USD 2–6 million. |
| Investment model | Bonfire says it leads about 95% of rounds, often with a board seat, and backs 10–12 companies per year. |
| Co-founders | Mark Mullen and Jim Andelman are co-founders; the team includes early-stage B2B software operators and investors. |
| Reported portfolio exit value | Bonfire says founders it backed have built more than USD 18 billion in exit value; this is not fund-level return. |
Public record
- Bonfire led Katalyze AI’s USD 10.5 million seed round in July 2026. The amount is the company total, not Bonfire’s disclosed individual check.
- Bonfire cites selected exits including The Trade Desk, TaxJar, MNTN, and Scopely; these examples do not state fund-level performance.
- The firm announced Bonfire IV, a USD 245 million fund for B2B software investing.
Official contact details
- Founder pitch submissions: Use the firm’s Pitch Us link to submit a company.
- Los Angeles office: 11611 San Vicente Blvd. #650, Los Angeles, California 90049, USA
Sources
- 1. Bonfire Ventures official website
Bonfire Ventures is a seed-stage venture capital firm backing founders building AI-native B2B software companies.
- 2. Team and founder pitch submission | Bonfire Ventures
Mark Mullen Co-Founder.
- 3. Portfolio companies | Bonfire Ventures
Founders we've backed have built more than $18 billion in exit value.
- 4. Bonfire closes USD 245 million Fund IV
Bonfire IV: $245M to Back the Builders Reshaping B2B Software.
- 5. Katalyze AI raises USD 10.5 million seed round led by Bonfire Ventures
Led by Bonfire Ventures