Thursday, October 5, 2017

Bonfire Ventures Launches New Venture Capital Firm

A new, Los Angeles-based venture capital firm, Bonfire Ventures--founded by venture veterans Jim Andelman and Mark Mullen, and assisted by Leah Volger--has made its first public announcement of an investment, after stealthily making investments in the region over the last few months. Bonfire, which has not yet announced its fund size or other details, says it is investing in founders who are building "software solutions that redefine how business gets done." The firm has so far invested in such companies as Fuel50, Tray, Postie, Openpath, Saferide, Trinity Mobile Networks, Branch, and Shippabo. Andelman is a veteran who has been investing at Rincon Venture Partners, and also was at Broadview Capital Partners and investment banking at Alex, Brown & Sons; Mullen has been investing out of his own fund, Double M Partners and Mull Capital, among other firms. The two have been involved in such exits as theTradeDesk, Burstly, Edgecast, Orbitera, and GradientX. Bonfire is just one of a long list of new funds to emerge in the last year in Southern California.