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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In this week's episode of L.A. Venture, we talk with Jim Andelman about Bonfire's new $100 million Bonfire Fund II, the great team additions (Jennifer Richard, Tyler Churchill, Brett Queener) and what good traction looks like nowadays. Plus, we share a couple great resources on tech.


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Bonfire Ventures, the Santa Monica seed-stage venture fund that has carved a niche focusing exclusively on unsexy but potentially lucrative business-to-business (B2B) software, has closed its second fund with $100 million in dry powder, up from the $63 million fund it closed in 2017. Adopting an "if ain't broke, don't fix it" ethos, little will change with the latest fund, except initial check sizes will be larger, though not dramatically so, averaging $1.75 million versus $1.25 million for Bonfire I. 60% will be set aside for follow-up investment.

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