01
B2B Software
We back B2B software architectures (from classic SaaS to AI-native workflows) that deliver structural high margins and undeniable value.
São Paulo · Since 2001
Backing early-stage software founders through cycles
Three decades of venture capital, built on process, discipline and resilience
- 25+
- Years operating
- 67
- Investments
- 42
- Realized
About the Firm
Built for the long term
Aligned with founders
Our founding team was investing in capital-efficient software businesses before DGF was founded, in 2001.
Since then, the technology has changed completely. The discipline hasn't.
Today we back the next generation of B2B platforms, where applied AI automates complex workflows and unlocks value that legacy software could not reach. Our advantage is pattern recognition: eight funds of knowing which problems compound and which companies endure.
2001
Founded in São Paulo
8th
Current fund
Seed / Series A
Focus
Investment Thesis
What we look for
Capital-efficient business models with high gross margins, recurring revenue and founders who think about global scale from day one.
02
Partnership Mindset
Founders who want a partner, not just a wire transfer. We work the hard problems alongside them, and stay closest when the quarter goes sideways.
03
Strong Unit Economics
Recurring revenue predictable enough to fund product and distribution with conviction, backed by unit economics (LTV/CAC, NRR, logo churn) that hold up under real scrutiny.
04
Technical Teams
Founders who understand the problem. Product and engineering as competitive advantage. Founders who leverage modern technology stacks and applied AI to build proprietary data moats.
05
Global Potential
We support teams built for the world stage. Geography is a starting point, not a constraint, enabling international competition from day one.
06
Rigorous Process
Proprietary methodology in pursuit of Investment Committee consensus. We lead US$1M–US$3M rounds with a board seat.
Portfolio
Companies we believe in
Concentrated portfolio. 10 to 14 companies per fund.
Track Record
Three decades of consistency
and discipline
Performance validated by the market. Discipline that delivers leadership-level returns.
We combine historical consistency and capital efficiency to position our funds among the top of the global venture capital industry, with a proven track record of top-quartile funds.
We have navigated economic cycles, delivering liquidity and solid returns to our investors, without ever losing alignment with founders.
Years operating
25+
Funds raised
8
vs. global benchmarks
Top Quartile
Fully Realized Funds
5
Team
People who build alongside founders
More than capital, active board presence: we support founders from traction to leadership, building resilience in the most challenging moments.
LP & founder network
DGF network
Institutional funds, family offices and tech founders who form our support network and open doors for portfolio companies.
Contact
Building something meaningful in B2B software?
Send us a summary of your company. If it fits our investment criteria, we will reach out to you.
or write to startups@dgf.com.br
For investor relations inquiries, contact investors@dgf.com.br