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San Francisco – June 16, 2022 –
Cooley advised Bonfire Ventures, a venture capital firm investing
in seed-stage business-to-business (B2B) software companies, on the
closing of its third core seed fund at $168
million and its second opportunity fund at $63 million. Partner
Eric Doherty led the Cooley team advising Bonfire Ventures.
Bonfire Ventures’ third fund was considerably
oversubscribed, but the firm capped the raise to maintain its
proven model of success – providing curated, hands-on
partnership to guide B2B software founders through the tumultuous
journey from seed to Series A and beyond. Bonfire Ventures will use
the new funding to invest in a select number of B2B software
companies while providing specialized support for seed-stage B2B
software founders at their most critical moments.
Based in Santa Monica, California, Bonfire Ventures goes to work
at the seed stage for B2B software founders to help them achieve
success and beat the odds that are typically stacked against them.
More than 85% of the firm’s portfolio companies have raised
follow-on capital, collectively procuring more than $1.15 billion.
Launched in 2017 by Jim Andelman and Mark Mullen, Bonfire
Ventures’ team brings more than four decades of B2B software
and seed-stage investment experience.
About Cooley LLP
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Cooley has 1,500 lawyers across 17 offices in the United States,
Asia and Europe.
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