About Development Capital
Development Capital is a venture capital firm founded in 2013. It is primarily based out of Dublin, Ireland. As of Nov 2024, Development Capital has invested in 13 companies. It primarily invests in Series A round in Ireland based startups. Its investments are spread across a wide range of sectors from Business Services to Real Estate and Construction and Energy. Most recently it participated in the $***** Unattributed round of Buttimer Overall, Development Capital portfolio has seen 6 acquisitions including key companies like Version1, Netwatch and Obelisk. A lot of funds co-invest with Development Capital, with names like Bank of Ireland sharing a substantial percentage of its portfolio. Development Capital has team of 3 people including 1 partners.Key Metrics
Development Capital's List of Top Investments
Development Capital has a portfolio of 13 companies. Their most notable investments are in Blueface and Multihog.Their portfolio spans across and Ireland. They have invested in Business Services, Real Estate and Construction, Energy and 8 other sectors, across stages such as Series A, Series B and 2 more. Here is the list of top investments by Development Capital:1. Version1
Provider of IT consulting and outsourced managed services. Its managed services include application, database, infrastructure, cloud, data & analytics, legacy application management, SharePoint managed service etc. Technology partners include Oracle, Microsoft, Amazon AWS etc. It provides expertise in business transformation, enterprise architecture, and business intelligence & analytics.
Key facts about Version1
- Founded Year: 1996
- Location: Dublin (Ireland)
- Annual Revenue: €100M - €500M as on Dec 31, 2024
- Stage: Acquired
- Total Funding till date: $107M
- Employee Count: 382 as on Jan 31, 2025
- Investors: Development Capital, Hermes GPE and 1 Other
- Latest Funding Round: PE, Apr 02, 2017, $*****
- Highlight: Acquired
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2. Netwatch
The Netwatch system is a remote monitoring and surveillance service to protect physical property and assets. The Netwatch cameras and intruder detector devices are installed at the premises and intervention expert monitor and detect attempted crimes at home or commercial property from the Netwatch Communication and intervene by live audio warnings. Warnings are live personalized audio. Company designs, installs, monitors and maintains the entire surveillance service. Claims to have over 3.5k client locations across Europe, South Africa, the Middle East, and the USA.
Key facts about Netwatch
- Founded Year: 2003
- Location: Carlow (Ireland)
- Stage: Acquired
- Total Funding till date: $10M
- Employee Count: 50 - 199 as on Mar 01, 2026
- Investors: Bank of Ireland and Development Capital
- Latest Funding Round: Series B, Jul 06, 2016, $*****
- Highlight: Acquired
3. Obelisk
Provider of telecoms and renewable energy infrastructure solutions. This company offers end-to-end managed solutions encompassing maintenance, support, and troubleshooting for telecoms infrastructure, including wireless and fixed-line networks. In the renewable energy sector, services cover solar PV, EV charging, wind measurement, and related equipment rental. The company partners with various clients across both sectors, delivering high-quality infrastructure projects. They maintain a highly skilled workforce dedicated to providing world-class services.
Key facts about Obelisk
- Founded Year: 1996
- Location: Cavan (Ireland)
- Stage: Acquired
- Total Funding till date: $6.73M
- Employee Count: 247 as on Jun 30, 2026
- Investors: British International Investment, Raptor Group and 1 Other
- Latest Funding Round: Conventional Debt, Jun 2025, $*****
- Highlight: Acquired
4. Blueface
Blueface offers unified communication solutions. The companys offerings include landline, Hosted PBX, VoIP, managed services, and unified communication. Offers an end to end solution companys telephony and managed voice requirements. Offers both hosted and hybrid managed solutions. Some of its clients include Bam, Coffee Angel, DPD, McDonald's, etc.
Key facts about Blueface
- Founded Year: 2004
- Location: Dublin (Ireland)
- Stage: Acquired
- Total Funding till date: $10.6M
- Employee Count: 50 - 199 as on Mar 01, 2026
- Investors: Dublin Business Innovation Centre and Development Capital
- Latest Funding Round: Series A, Mar 05, 2017, $*****
- Highlight: Acquired
5. Zartis
Zartis is a tech focused job portal. Users have to apply to their talent platform and get tech jobs from companies in Cork, Dublin & Vancouver. Candidates can create their profiles on the platform and it matches them to suitable job offers. Companies include Zendesk, Workday, Stripe and more.
Key facts about Zartis
- Founded Year: 2011
- Location: Cork (Ireland)
- Stage: Series B
- Total Funding till date: $10.8M
- Employee Count: 244 as on Jun 30, 2026
- Investors: Development Capital, SOSV and 2 Others
- Latest Funding Round: Series B, May 27, 2024, $*****
- Highlight: Editors' Pick
Development Capital's Year-on-Year Investment Trends
Development Capital has invested in 14 companies over the last 12 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Buttimer and most recent follow-on round was in Perigord.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 2 | 0 | 2 |
2023 | 1 | 0 | 1 |
2022 | 1 | 0 | 1 |
2021 | 1 | 0 | 1 |
2020 | 0 | 0 | 0 |
2019 | 0 | 0 | 0 |
2018 | 0 | 0 | 0 |
2017 | 2 | 1 | 3 |
Development Capital's Investments by Stage
Development Capital has made 5 investments in Series A stage with an average round size of $9M, 3 investments in Series B stage with an average round size of $15.1M, 2 investments in PE stage with an average round size of $8.74M and 2 investments in Unattributed stage.Stage of entry | No. of Investments |
|---|---|
Series A | 5 |
Series B | 3 |
PE | 2 |
Unattributed | 2 |
Note: We have considered here, only first round of investments
Development Capital's Investments by Sector
Development Capital has a diverse portfolio, with companies operating in the Business Services, Enterprise Applications, Real Estate and Construction, Telecom and Auto. Notably, it has invested in 7 Enterprise (B2B) companies, 2 Consumer (B2C) companies, 2 Tech companies and at least 1 company focusing on Saas.Sector | No. of Investments |
|---|---|
Business Services | 2 |
Enterprise Applications | 2 |
Real Estate and Construction | 2 |
Telecom | 2 |
Auto | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Development Capital's Investments by Geography
Development Capital has made most investments in Ireland (12).Development Capital's recent investments
Development Capital has not made any investment in 2026 so far.Here are the most recent investments by Development Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Nov 15, 2024 | Ireland | Unattributed | 9358 | - | |
May 27, 2024 | Ireland | Series B | 7781 | - | |
Aug 23, 2023 | Ireland | Series A | 4116 | ||
Oct 11, 2022 | Ireland | Series B | 2513 | - | |
Jul 13, 2021 | Ireland | Series A | 8680 | - |
Acquired companies in Development Capital's Portfolio
6 companies from Development Capital's portfolio have been acquired. The most recent acquisition was ATA in Jul 2024 by Harvey Performance for $*****.Here are Development Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 15, 2024 | - | - | 3140 | |
May 03, 2022 | Apr 25, 2016 | PE | 7716 | |
Apr 20, 2022 | Jul 28, 2014 | PE | 3900 | |
Mar 15, 2021 | Feb 16, 2016 | Unattributed | 6005 | |
Jan 24, 2020 | Mar 05, 2017 | Series A | 4589 |
Team profile of Development Capital
Development Capital has a team of 3 members located in Ireland. Development Capital's team does not sit on the board of any company as of now.Co-investors of Development Capital
Over the past 12 years, 10 investors have co-invested in Development Capital's portfolio companies. This includes funds and angels.
- Invested before Development Capital: SOSV, AIB Seed Capital Fund and 1 other have invested in rounds before Development Capital. There is 1 company where SOSV has invested before Development Capital and 1 company where AIB Seed Capital Fund has invested before Development Capital.
- Top Co-investors of Development Capital: 4 investors entered a company along with Development Capital. These include investors like Bank of Ireland (1 company).
- Invested after Development Capital: A total of 3 investors have invested in Development Capital's portfolio after their investments. Top Investors include Volpi Capital (1 company), British International Investment (1 company) and Enterprise Ireland (1 company).
Recent News related to Development Capital
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Zartis’ international plans boosted by Development CapitalTechCentral Ireland•May 27, 2024•Zartis, Development Capital
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Cork-based Zartis gets €10m funding to double size by 2028Silicon Republic•May 27, 2024•Zartis, ESW, Development Capital
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IP Telecom secures EUR 6 million investment to fund growth plansTelecompaper•Aug 24, 2023•IP Telecom, Development Capital
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BiaVest and Development Capital to acquire Nomadic Dairy for €29mDairyReporter•Nov 09, 2021•BiaVest, Development Capital, Nomadic Dairy, Donegal Investment Group
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Spotlight Oral Care’s €12 Million Investment From Development Capital FundGlobal Legal Chronicle•Jul 22, 2021•Spotlight Oral Care, Development Capital, Maples Group, Calder Law
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Star2Star Communications and Blueface MergeCitybizlist•Jan 03, 2018•Star2Star, Blueface, Kebu, Development Capital and 4 others
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BDO Fund Leads €7m Investment In MultihogBusiness Plus•Dec 17, 2017•Multihog, Development Capital, BES Management, Enterprise Ireland
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Obelisk secures investment of €6 million and aims to double turnover | BusinessPost.iePost Publications Limited•Apr 25, 2016•Obelisk, Development Capital
