SEED-STAGE B2B + AI-NATIVE

Lead early,stay late.

Bonfire Ventures leads seed rounds for AI-native B2B companies. We back founders rethinking and rewiring how business gets done. We invest $2–6 million initially and keep investing as you grow.

Seed

We lead

$2-6M

First checks

B2B Only

Applied AI and SaaS

$1B+

AUM

Why Founders Choose Bonfire

Three arrows icon

We lead, and that means something

We lead about 95% of our rounds. That means we commit first, set fair terms, and help you fill out the round. We make fewer than 12 investments per year, so when we say yes, we’re all in.

B2B is our speciality

Every company we back sells to businesses. We know the buyer, the playbook, and the messy middle of adoption better than any generalist can. The narrower our lane, the more useful we are in it.

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.

Seed is only the beginning

Our partnership may begin at seed, but it usually lasts as long as you’re building. We hold money back for future rounds, so we can keep backing you even when another investor takes the lead.

$18B in exits

The founders our team has backed have built more than $18 billion in exit value, including The Trade Desk, TaxJar, MNTN, and Scopely. That’s over two decades of B2B pattern recognition you get to borrow.

THE COMPOUNDING LOOP

The best companies learn from the work.

To us, AI-native means intelligence is foundational to how the product works and improves. Every customer, task, correction, and decision gives the product more context, improves the next outcome, and deepens its place in the workflow.
It's the one thing we care about most.

Read our Thesis

THE COMPOUNDING LOOP

The best companies learn from the work

AI-native software can learn from the work, but the loop isn't automatic. The best teams design for it from day one. They capture every task, correction, and decision, then feed it back, so the product understands the work (and each customer's way of doing it) a little better every week.

01

Usage

Customers put the product to work on real tasks.

02

More data

Every action, correction, and decision creates proprietary learning signals.

03

Smarter product

Those signals improve the system’s judgment and performance.

04

More enduring value

The better it gets, the harder it becomes to replace or copy.

WHO WE BACK

Builder-CEOs who live inside the problem.

We back builder-CEOs who know their industry from the inside and use AI to solve problems they’ve experienced firsthand. We look for founders with a live product, paying customers, and a clear understanding of why their approach is better than what exists today. If you're raising a seed round and looking for a lead investor, we'd like to hear what you're building.

Lately around the Bonfire

Founder feedback, unfiltered.

"Bonfire is always thinking about our business. They get into the hardest calls with us on pricing, sales comp and how we tell our story. That's the partner you want when it matters most."

Jerry Zhou

Supio

“A real thought partner in the boardroom, not a passenger.”

Dave Hasse

Juno

"In a short amount of time, the Bonfire team understood our business better than some investors who’ve been working with us for years."

John Verdon

Nevoya

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

Matt Danna

Boulevard

“They’re the rare investor who goes beyond advice to actively help us tackle challenges, making them my top recommendation for any startup founder.”

Joseph Rutakangwa

Rwazi

“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