bonfire ventures

bonfire ventures

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.

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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.

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Women entrepreneurs, especially those of color, don't have the same buy-in from investors as their male counterparts, but that shouldn't deter them. That's the advice of four women startup founders and investors during a panel on equity at The dot.LA Summit.

"We can't let the data stop us, especially as women," said Morgan DeBaun, founder and CEO of Blavity, who said she hit roadblocks six years ago when trying to get her media company geared toward Black millennials funded.

The panel, "Locked Out in Lockdown," also featuring Bonfire Ventures principal Jennifer Richard, Halogen Ventures General Partner Jesse Draper and Suma Wealth co-founder and CEO Beatriz Acevedo, explored the deep inequities that remain for women.

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