devlabs

# DevLabs Ventures: Building the Next Generation of Global Software Companies

High-Level Overview

DevLabs Ventures is a U.S.-based early-stage venture capital firm that identifies and invests in transformational teams solving significant problems across large markets.[1][5] The firm operates with a mission to support lean, early-stage software startups with the potential to scale globally, providing not just capital but also hands-on business development and product development support.[4]

The firm's investment philosophy centers on backing founder-friendly capital that goes beyond traditional venture funding. DevLabs targets B2B software companies addressing critical challenges in sectors including education, health, agriculture, food supply chain, financial services, renewable energy, logistics, and tourism.[2][4] The firm maintains a geographically distributed investment approach, with offices in Oakland (United States), Chile, Jamaica, and Honduras, allowing it to tap into emerging entrepreneurial ecosystems across the Americas and beyond.[3]

DevLabs Fund I, the firm's primary vehicle, manages approximately $8 million in capital (with $6 million contributed by CORFO, Chile's economic development agency) and targets investments in companies with a minimum of $25,000 in annual recurring revenue.[2][4] The firm typically invests between $500,000 and $2.1 million per deal, with a sweet spot around $1 million for equity participation.[6]

Origin Story

DevLabs has been operating since 2013, establishing itself as a specialized venture capital office focused on identifying and nurturing high-potential software businesses.[4] The firm's founding reflected a strategic recognition that exceptional entrepreneurs and scalable software solutions existed in underserved markets across Latin America, the Caribbean, and the United States—regions where traditional venture capital had historically been less active.

The firm's evolution demonstrates a commitment to regional development alongside financial returns. The partnership with CORFO, Chile's state development agency, underscores DevLabs' role in catalyzing innovation within Latin American economies. Rather than simply deploying capital, the firm positioned itself as an active partner in company growth, providing diagnostic support, strategic guidance, and connections to help portfolio companies expand both nationally and internationally.[4]

Core Differentiators

Hands-On Operating Support

DevLabs distinguishes itself through direct involvement in portfolio company success. Beyond capital deployment, the firm provides business development and product development support, helping early-stage founders navigate the critical early scaling phase.[4] This operating model reflects a belief that capital alone is insufficient—founders need strategic guidance, market validation, and operational expertise.

Geographic Arbitrage and Regional Expertise

The firm's multi-hub structure across Oakland, Chile, Jamaica, and Honduras creates a unique advantage. Rather than viewing Latin America and the Caribbean as peripheral markets, DevLabs has built deep local expertise in each region, allowing it to identify outlier entrepreneurs before they attract mainstream venture attention.[3] This geographic distribution also enables the firm to support portfolio companies' expansion across the Americas.

Sector-Specific Focus with Broad Application

While many venture firms cast wide nets, DevLabs maintains disciplined focus on B2B software addressing specific verticals—education, health, agriculture, financial services, and renewable energy.[2] These sectors represent large, structural problems with significant addressable markets, yet remain underserved by technology solutions in many regions where DevLabs operates.

Founder-Centric Investment Approach

The firm explicitly positions itself as "founder-friendly," recognizing that early-stage entrepreneurs need partners who understand their constraints and can help them reach customers, improve products, and access capital efficiently.[3] This philosophy contrasts with more traditional venture models that may prioritize rapid scaling over sustainable growth.

Lean, Capital-Efficient Thesis

DevLabs focuses on identifying lean startups with strong unit economics and domain expertise, rather than betting on capital-intensive growth plays.[4] This approach aligns with the realities of building software companies in emerging markets, where capital efficiency often determines survival and success.

Role in the Broader Tech Landscape

DevLabs operates at the intersection of several powerful trends reshaping global venture capital. First, the firm is riding the democratization of software entrepreneurship, where talented founders in Latin America, the Caribbean, and other emerging regions are building world-class software solutions without requiring Silicon Valley proximity or traditional venture backing.

Second, DevLabs benefits from the growing recognition that venture capital concentration in coastal U.S. markets represents a massive market inefficiency. By investing in undervalued, early-stage companies in overlooked geographies, the firm captures both financial returns and the satisfaction of building ecosystems. The firm's portfolio includes companies like Lirmi (education), Colektia (supply chain), and AltumLab (health), each addressing significant regional problems with global scaling potential.[2]

Third, DevLabs' focus on B2B software solving structural problems aligns with a broader market shift away from consumer-focused, venture-scale-or-die models toward sustainable, profitable software businesses. This is particularly relevant in emerging markets where venture capital availability is limited and founders must build profitable companies from inception.

The firm also influences the broader ecosystem by demonstrating that effective venture capital doesn't require massive fund sizes or concentrated geography. By managing an $8 million fund with disciplined focus, DevLabs proves that regional venture models can generate strong returns while building local entrepreneurial capacity.

Quick Take & Future Outlook

DevLabs represents a compelling model for the next decade of venture capital: regionally rooted, operationally engaged, and focused on sustainable software businesses solving real problems. As global venture capital increasingly recognizes that the best entrepreneurs aren't concentrated in a handful of coastal cities, firms like DevLabs that have built early expertise in emerging ecosystems will capture disproportionate value.

The firm's trajectory suggests several likely developments. First, expect DevLabs to raise larger subsequent funds as their track record of successful exits (the firm has achieved 2 portfolio exits, including ERPyme in April 2022) becomes more visible.[4] Second, the firm will likely expand its geographic footprint, potentially adding new hubs in underserved regions. Third, as portfolio companies scale, DevLabs will increasingly position itself as a bridge between Latin American founders and global markets—a role that could extend into later-stage funding or strategic introductions.

The broader significance of DevLabs lies in its implicit thesis: the future of venture capital is distributed, specialized, and operationally intensive. In an era where software can be built anywhere and markets are increasingly global, the venture firms that win will be those that combine deep regional expertise with hands-on support and founder alignment. DevLabs has positioned itself precisely at this intersection, making it a bellwether for how venture capital will evolve in emerging markets over the next decade.