Bonfire Ventures Is Raising $165 Million For Its Third Fund

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Bonfire Ventures Is Raising $165 Million For Its Third Fund
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Early-stage venture investor Bonfire Ventures is looking to up the ante with its newest fund.

The Santa Monica-based firm is aiming to raise $165 million for its third fund, according to a regulatory filing with the SEC. If it manages to raise that figure, the new fund would be 65% larger than Bonfire’s previous, $100 million core fund, which it closed in 2020.


In addition to the third fund, the venture capital firm intends to bring in as much as $65 million for a second “select fund,” another filing indicates. Judging by its previous select fund, Bonfire likely plans to use the $65 million to continue investing in its existing portfolio companies as they go on to raise subsequent funding rounds.

Bonfire has not yet disclosed any actual money raised for the two funds. The firm declined to comment.

Bonfire has carved a niche for itself by focusing its investments on B2B startups that sell software to other businesses. Its local portfolio companies include Playa Vista-based Chownow, which offers a food ordering platform for restaurants, and Downtown-based Boulevard, which makes appointment booking software for salons and spas.

In unveiling its $100 million second core fund in 2020, Bonfire co-founder Jim Andelman said the firm was on the lookout for “the weird and wonderful in this boring part of the ecosystem that is B2B software.” Bonfire closed its first, $63 million fund in 2017.

Bonfire’s other co-founder, Mark Mullen, is an investor in dot.LA.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec
Photo by James Opas | Modified by Joshua Letona

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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