DGF
DGF Investimentos is a São Paulo-based venture capital firm founded in 2001 that invests exclusively in early-stage B2B software companies in Brazil and Latin America, currently raising its eighth fund after 25 years and 63 portfolio investments.
- Company typePrivate
- Founded2001
- HeadquartersSão Paulo, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingServices
What DGF does
DGF Investimentos is a São Paulo-based venture capital firm founded in 2001 by Sidney Chameh, specializing exclusively in B2B software companies in Brazil and Latin America. The firm operates as a partnership of five principals (Sidney Chameh, Frederico Greve, Daniel Heise, Henrique Uehara, and Henrique Ferreira) plus associates and analysts, and has supported 63 portfolio companies across its history with 41 realized divestments. DGF has raised eight successive venture capital funds (DGF 1 through DGF 8) plus co-investment vehicles collectively called DGF 5, and is currently fundraising for DGF 8 to continue investing in early-stage software companies. Revenue is generated through two streams typical of closed-end VC funds: management fees charged on committed capital and carried interest earned on successful exits.
The firm adopted an activist investment approach, providing capital alongside strategic support, operating expertise, and access to an extensive network built over 25 years. In 2010 DGF narrowed its fund mandate to a single theme, B2B software, formalizing this specialization with the DGF 3 fund in 2012. The partnership includes former founders of DGF-backed companies (notably Daniel Heise, founder of Direct Group, and Dario Boralli, founder of DHC), embedding operator experience into investment decisions. Funds are structured exclusively for professional investors and operate under CVM regulation, with adherence to ABVCAP/ANBIMA self-regulation standards.
Recent activity includes the co-led Series A in Takeat in February 2026 alongside Quartzo Capital, with capital structured through the Espírito Santo Sovereign Fund. The active portfolio spans food service technology (Takeat), aviation (Speedbird), HR (InHire, Solides), fleet management (Frota), industrial AI (Tractian), computer vision (Visio.ai), and other B2B SaaS verticals, reflecting a deliberately diversified approach within the B2B software theme. Go-to-market is direct and relationship-driven, leveraging the team's network for deal sourcing and LP coverage.
DGF firmographics
Firmographics- Name
- DGF
- Legal name
- DGF Investimentos
- Website
- https://dgf.com.br
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- DGF Investimentos is a São Paulo-based venture capital firm founded in 2001 that invests exclusively in early-stage B2B software companies in Brazil and Latin America, currently raising its eighth fund after 25 years and 63 portfolio investments.
- Ownership category
- akta.pro rank
DGF industry classification
Industry- Product category
- Venture Capital / Private Equity
- NAICS
- Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where DGF is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
DGF business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Management Fees: DGF generates revenue through management fees charged on its venture capital funds, structured for professional investors following CVM regulations.
- Carried Interest: The firm earns carried interest from successful exits of portfolio companies, delivering exceptional returns to investors.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
DGF product offering
Product offeringCore offering
DGF is a venture capital investment firm that manages multiple closed-end funds (DGF 1 through DGF 8) dedicated exclusively to investing in B2B software companies in Brazil and Latin America. The firm provides capital alongside strategic support, operating expertise, and network access to early-stage and high-growth software entrepreneurs. Its funds are reserved exclusively for professional investors and operate under Brazilian CVM regulation and ABVCAP/ANBIMA self-regulation.
Product overview
DGF is a Venture Capital investment firm, not a product company. It does not offer a unified product platform or individual commercial products. DGF manages a suite of Venture Capital funds (DGF 1 through DGF 8) dedicated exclusively to investing in high-growth B2B software companies in Brazil and Latin America. The firm provides capital, strategic support, and network access to exceptional entrepreneurs leading software startups. The portfolio companies listed on DGF's website (such as Takeat, Speedbird, Inhire, Frota162, Maggu.ai, CargoAPIens, Data4Sales, Amicci, Tractian, Visio.ai, Looqbox, Aravita, Solides, Mudflap, Slang, Birdie, Rocket.Chat, and others) are DGF's investment holdings, not DGF's own products or services.
Differentiator
Problem solved
Functional benefit
Products and services
- DGF 7 Venture Capital Fund Closed-end venture capital fund dedicated to early-stage B2B software companies in Brazil, available exclusively to professional investors under CVM regulation.
- DGF 8 Venture Capital Fund (in fundraising) Eighth vintage closed-end venture capital fund from DGF, targeting early-stage B2B software companies in Brazil and Latin America and reserved for professional investors.
- DGF 4 Venture Capital Fund (high-growth) Closed-end venture capital fund dedicated to high-growth B2B software companies in Brazil, available exclusively to professional investors under CVM regulation.
- DGF 6 Venture Capital Fund (early-stage)
- DGF 3 Venture Capital Fund (B2B software specialization) Closed-end venture capital fund that inaugurated DGF's exclusive thematic focus on B2B software companies in Brazil, available exclusively to professional investors under CVM regulation.
Quantifiable outcome
- 63 companies supported over nearly 25 years with 41 successful divestments
- +1 more outcomes
Companies that use DGF
Customer profileNamed customers12 records
Segments1 record
Ideal customer profiles2 records
DGF technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
DGF partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ABVCAP/ANBIMAminorDGF funds adhere to the ABVCAP/ANBIMA self-regulation code, demonstrating compliance with industry standards for venture capital and private equity in Brazil.
Scale indicators4 records
Recent moves10 records
Expansion highlights4 records
DGF competitors and assessment
Company assessmentDirect peers
- Kaszek Ventures: Latin America's largest venture capital firm focused on technology-enabled businesses, with deep Brazil and Argentina exposure. Directly comparable to DGF given overlapping B2B software thesis, multi-fund franchise, and early/growth-stage focus on LatAm founders.
- Monashees: Brazilian venture capital firm investing across stages in technology companies. Closely comparable to DGF as a fellow Brazil-anchored multi-fund tech investor with similar sector breadth and stage coverage.
- ALLVP: Mexico-anchored early-stage venture capital firm investing in Latin American tech startups. Comparable to DGF as a regional, thesis-driven, multi-fund VC with a similar approach of partnering with founders from inception.
- Valor Capital Group: US-Brazil cross-border venture capital firm investing in technology companies with Brazil/USA linkages. Comparable to DGF given its Brazil tech focus and operator-style support to portfolio companies.
- Canary: Brazilian early-stage venture capital firm leading pre-seed and seed rounds in B2B software. Directly comparable to DGF's early-stage funds (DGF 6, DGF 7, DGF 8) in stage focus and Brazilian SaaS deal flow.
- Atlantico: Latin American venture capital firm investing across stages in tech-enabled businesses. Comparable to DGF as a LatAm-wide tech investor with overlapping portfolio categories and a similar partnership-driven model.
Emerging players
- Maya Capital: Brazil-focused early-stage venture capital firm led by former operators. Comparable to DGF in Brazilian B2B software focus and founder-support model, though at an earlier franchise stage and smaller AUM.
- Quona Capital: Emerging-markets venture capital firm with strong Latin America presence, focused on fintech and financial inclusion. Adjacent comparable to DGF given overlapping LatAm tech thesis and emerging-market mandate.
Broad incumbents
- Andreessen Horowitz: Global venture capital firm that has explicitly expanded into Latin America software investing. Comparable as a broad incumbent in B2B software venture capital, with growing competition for the same Brazilian founders DGF targets.
- Prosus Ventures: Global technology investor with a dedicated emerging-markets mandate, including active deployment in LatAm (e.g., Zapia). Comparable as a broad incumbent competing for the same regional software deal flow as DGF.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
DGF social profiles
Digital presenceDGF financial estimates
Financial estimateRevenue estimate
Valuation estimate
DGF leadership team
Management profileNumber of profiles
Profiles8 records
DGF funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DGF M&A and investment
M&A and investmentM&A
Investments59 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DGF
What does DGF do?
DGF is a venture capital investment firm that manages multiple closed-end funds (DGF 1 through DGF 8) dedicated exclusively to investing in B2B software companies in Brazil and Latin America. The firm provides capital alongside strategic support, operating expertise, and network access to early-stage and high-growth software entrepreneurs. Its funds are reserved exclusively for professional investors and operate under Brazilian CVM regulation and ABVCAP/ANBIMA self-regulation.
Is DGF a public or private company?
DGF is a private company. It is classified as management employee owned and is currently operating.
When was DGF founded?
DGF was founded in 2001. It employs 11 to 50 people.
Where is DGF based?
DGF is headquartered in São Paulo, Brazil, in the Latin America region.
How does DGF make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are DGF's main competitors?
Direct peers on record are Kaszek Ventures, Monashees, ALLVP, Valor Capital Group, Canary and Atlantico. Emerging players are Maya Capital and Quona Capital. Broad incumbents are Andreessen Horowitz and Prosus Ventures.
Does DGF have an API?
No public API is recorded for DGF.
What industry is DGF in?
DGF's product category is Venture Capital / Private Equity. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 5259 and its SIC code is 6282.