Bonfire Ventures Raises $230M Across Two New VC Funds

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Bonfire Ventures Raises $230M Across Two New VC Funds
Courtesy of Jim Andelman

Bonfire Ventures, the Santa Monica early-stage venture capital firm that has backed local business-to-business (B2B) software startups like ChowNow and Boulevard, has raised more than $230 million across two new funds, it announced Tuesday.


Bonfire raised $168 million for its third core fund and $63 million for its second opportunity fund—taking the firm to five total funds raised and more than $1 billion in assets under management, it said in a press release.

dot.LA previously reported that Bonfire was seeking to raise the new funds in January, when the venture firm filed regulatory documents indicating its intention to raise $165 million for its third core fund and $65 million for its second “select fund.”

Co-founders Jim Andelman and Mark Mullen told TechCrunch that Bonfire plans to only invest in 25-to-30 startups across each fund, so that the firm can offer more support to those startups. (Disclosure: Mullen is an investor in dot.LA.)

“We are very much a low-volume, high-conviction, high-support investor,” Andelman told TechCrunch. “We maintain the bandwidth to be responsive to founders and earn the role of first call when they have a question.”

Since launching in 2017, Bonfire has built its portfolio primarily around seed-stage, B2B software-as-a-service (SaaS) companies, which make up more than 99% of its investments, according to the firm’s website. Bonfire previously raised $100 million for its second fund in 2020, after raising its $63 million first fund in 2017.

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Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern 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.

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients
Courtesy of Regard

Culver City-based health care startup Regard, which uses AI-driven software to help physicians accurately diagnose patients, has raised $15.3 million in Series A funding.

Pasadena-based Calibrate Ventures and Colorado-based Foundry Group led the investment in Regard, formerly known as HealthTensor. Other investors that participated in the round include TenOneTen Ventures, Susa Ventures, Brook Byers of Byers Capital and Dropbox CEO Drew Houston. The new funding will be used to grow Regard’s team and customer base, the company said in a press release.

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This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern 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.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.

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Braid Theory's Plan to Foster the Next Generation of Ocean Tech Startups

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Braid Theory's Plan to Foster the Next Generation of Ocean Tech Startups
Photo courtesy of the Port of Los Angeles.

San Pedro-based Braid Theory is one of the growing number of accelerators in the country looking to grow the so-called blue economy, which spans a range of ocean-related industries and is estimated at $2.5 trillion a year.

The accelerator is accepting online applications until July 18, with its second-ever program kicking off in August.

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