Devlabs is based in Temuco, Chile for Latin America and Oakland, California for North America.
Fund I
Size of the fund: 8 million USD (1 to 3 private investors to CORFO investment)
Investment size: 100 - 300,000 USD per company for 5 - 15% equity
Total number of companies: 25 - 30
Industries: B2B Software in Agri-business, Finance, Health, Tourism, Education and Operations
Expected returns: IRR > 20 - 30%
Profile of companies: Software companies with less than 3 years of operation
Fund II
Size of the fund: 21 Million USD (1 to 3 private investors to CORFO investment)
Investment size: 500,000 - 2.1 million USD per project
Total number of projects: 5 to 10 projects
Industries: Renewable energy, agribusiness and tourism
Expected returns: IRR > 15%
Exit strategy: Local indigenous community will take over the ownership of the project