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Bonfire Ventures, iki yeni fon kapanışıyla 1 milyar AUM'a ulaştı

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Software-focused VC house Şenlik Ateşi Girişimleri has gathered $230m across two funds, boosting its assets under management to $1bn.

Bonfire closed its third core seed fund on $168m, and its second opportunity fund on $63m.

Alt Varlıklar reported two years ago that the firm was out eyeing up to $100m for its second fund.

The firm said its first two core funds have performed in the top 10% of global venture capital funds for their respective vintage years.

Mark Mullen, co-founder and managing director at Bonfire Ventures, said, “Our tightly focused, bespoke approach continues to be a model of success for our founders, companies, and investors. Across the board, our funds’ performance and our portfolio companies’ success are punching far above their weight.”

Jim Andelman, co-founder and managing director at Bonfire Ventures, added, “Not all capital is created equal. Any firm or individual with capital can write a check, but few provide the hands-on and empathetic support that seed-stage founders need to take their company through Series A and subsequent rounds. We’re singularly focused on backing B2B software founders at the seed stage to help them beat the odds and transform the industries they serve.”

Bonfire closed its first fund on $60m in January 2018.

The firm was founded by Jim Andelman and Mark Mullen. Andelman previously founded Rincon Venture Partners, while Mullen founded Double M Partners, two leading seed stage VCs focused on B2B software.

The LA-based investor targets early-stage startups with software-based products for business buyers. Its typical ticket size has been about $1m, but it also makes initial investments as low as $250k and as high as $1.5m.

Its portfolio include Spekit, Figment, Cube, DISQO and Boulevard.

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