Top 8 Venture Capital Firms for Developer Tools Startups

When you're preparing to raise capital for your Developer Tools startup, knowing which investors to approach is critical. Finding a venture capital firm that truly understands the nuances of API-first products and the developer community can make all the difference in securing a partner, not just a check.

To help you focus your fundraising efforts, our team at Rho has curated this overview of the top VC firms actively investing in the DevTools space. Use this guide to quickly identify investors who are a good fit for your company's stage and vision.

Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Securing venture funding for a Developer Tools startup means finding a strategic partner who understands your product and community, not just a source of capital.

• Firms like Tola Capital, boldstart ventures, MAGIC Fund, and 500 Emerging Europe are notable backers actively investing in companies focused on developer-first products.

• Once you close a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.

Which VC Firms in Developer Tools Are Right for Your Stage?

Whether you're an early-stage company or preparing for an exit, it helps to know which investors to approach.

Here is a quick overview of VC firms that focus on developer tools, organized by their typical investment stage.

Pre-seed and Seed VC Firms in Developer Tools

Pre-seed and seed funding is the earliest capital you'll raise, typically used to validate your idea and build the first version of your product. For developer-focused startups, software venture capital firms like boldstart ventures and MAGIC Fund specialize in providing this initial support.

Early Stage VC Firms in Developer Tools

Early-stage funding, which includes Series A and B rounds, is for companies with traction that need capital to scale their go-to-market strategy and expand their team. Investors such as Tola Capital and 500 Emerging Europe are known for backing promising developer tool and SaaS companies at this growth phase.

Late Stage VC Firms in Developer Tools

Late-stage rounds are designed for mature companies with strong revenue streams that are preparing for a major event, such as an acquisition or an IPO. Some tech VC firms that participate in these later rounds include Tola Capital and Trajectory Ventures, which often invest in companies on a clear path to exit.

Keep in mind that some VC firms invest across multiple stages, from seed to late-stage rounds. Once you secure funding, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy that capital efficiently.

To help you find the right partner, here is a more detailed overview of top VC firms investing in developer-focused companies. We've outlined their investment stages, geographic focus, and specific qualities that might appeal to you as a founder.

1. Tola Capital

Based in Seattle, Tola Capital is a venture firm that has backed enterprise software companies since 2010. They invest globally, focusing on businesses that use data and cloud technology to solve complex problems for large markets.

The firm shows a clear preference for product-centric companies and invests across multiple stages, from seed to late-stage rounds. Their portfolio includes developer-focused successes like Pulumi, an infrastructure-as-code platform, and notable exits like the video-editing platform Clipchamp, which was acquired by Microsoft.

Tola Capital could be a strong partner if you're building a technical enterprise or developer tool with a clear path to market leadership. Their ability to support companies through multiple growth stages makes them a good choice for teams looking for a long-term investor.

• Investment stages: Seed to late-stage venture
• Industries of focus: Enterprise Software, Developer Tools, Cloud Security, Financial Services
• Geographical presence: Global investments with a headquarters in Seattle
• Founded: 2010
• Notable portfolio companies: Pulumi, Clipchamp (acquired by Microsoft), OneTrust, Glia
• Portfolio size: Over 75 investments and 17 exits

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

You can refer to their website here.

2. boldstart ventures

Based in Miami, boldstart ventures is a micro-VC firm that partners with technical founders from the very beginning. They operate as “day one” investors, specializing in pre-seed and seed rounds for developer-first, infrastructure, and SaaS companies.

The firm’s approach is built on being a “true believer” for founders, with a clear focus on deeply technical products. Their portfolio reflects this, with investments in companies like the popular email client Superhuman and the blockchain infrastructure platform Blockdaemon.

boldstart could be an excellent match if you are a founder at the earliest stages with a strong engineering background. They are a great fit for teams building developer tools or enterprise infrastructure who want a high-conviction partner from inception.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Pre-seed and seed
• Industries of focus: Developer Tools, SaaS, Cloud Infrastructure, AI, Cyber Security
• Geographical presence: Based in Miami
• Founded: 2010
• Notable portfolio companies: BigID, Superhuman, Blockdaemon, Hypernative
• Portfolio size: Over 200 investments and 33 exits

You can refer to their website here.

3. MAGIC Fund

MAGIC Fund is an early-stage venture firm built by founders, for founders. Based in Los Angeles, they provide seed and early-stage capital to new companies across a wide range of industries.

The firm’s model is centered on a global collective of founders backing other founders, creating a powerful network. Their portfolio includes developer-focused successes like Retool, an internal tools builder valued at over $3 billion as of 2023.

MAGIC Fund is a great fit if you are an early-stage founder looking for a partner who offers more than just capital. Their community-driven approach is ideal for teams that value peer support and a network of experienced operators.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Developer Tools, SaaS, FinTech, E-Commerce, Cryptocurrency, Health Care
• Geographical presence: Based in Los Angeles with a global investment focus
• Founded: 2017
• Notable portfolio companies: Retool, Bank Novo, Payfazz, Frubana
• Portfolio size: Over 170 investments and 13 exits

You can refer to their website here.

4. 500 Emerging Europe

500 Emerging Europe is a venture capital firm that helps founders from emerging European markets take their companies global. Though based in San Francisco, their core mission is to back early-stage companies from Europe and support their expansion.

The firm concentrates on seed and early-stage investments in technical sectors like AI, SaaS, and developer tools. Their portfolio highlights this focus, featuring companies like Carbon Health, a primary-care network that reached unicorn status.

This firm is a strong choice if you are a founder in Europe with a tech-driven product and ambitions to enter the US or other global markets. Their model is built to provide the strategic support needed for that international leap.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Artificial Intelligence (AI), Developer Tools, Enterprise Software, Gaming, Machine Learning, SaaS
• Geographical presence: Based in San Francisco with a focus on European founders
• Founded: 2016
• Notable portfolio companies: Carbon Health, Averon, Newoldstamp (exit), Evreka
• Portfolio size: Over 60 investments and 7 exits

You can refer to their website here.

5. Vela Partners

Based in San Francisco, Vela Partners is a venture capital firm that uses a quantitative, AI-driven process to identify promising companies. Their approach is to turn the “art” of investing into a science, focusing on data to guide their decisions.

The firm concentrates on seed and early-stage investments in technical B2B sectors, including AI, machine learning, and companies building developer tools. Their portfolio includes several successful exits, such as the data-security platform LeakSignal and the no-code prototyping tool Protopie.

Vela Partners is a strong choice for founders with deeply technical products who appreciate a data-informed investment partner. If you are raising a seed or early-stage round for an AI-native or developer-focused company, their model may be a good fit.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Artificial Intelligence (AI), B2B, Developer Tools, Machine Learning
• Geographical presence: Based in San Francisco
• Founded: 2017
• Notable portfolio companies: Phaidra, Cartken, LeakSignal (acquired), Protopie (acquired)
• Portfolio size: 41 investments and 4 exits

You can refer to their website here.

6. Expa

Expa is a venture studio and fund that builds and invests in early-stage companies. Based in San Francisco, they provide founders with a mix of capital, operational support, and access to a network of experienced builders.

The firm operates as both an incubator and a venture fund, investing from seed to late-stage rounds. Their portfolio includes high-profile companies like the digital freight network Convoy and the mobile-first neobank Current, showing a focus on sectors like FinTech, enterprise software, and developer tools.

Expa is a strong match for early-stage founders who want a hands-on partner to help shape their company from the ground up. Their studio model is particularly valuable for teams seeking deep operational guidance alongside their initial funding.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed, Convertible Note, Early & Late Stage Venture
• Industries of focus: Consumer Software, Developer Tools, E-Commerce Platforms, Enterprise Software, FinTech
• Geographical presence: Based in San Francisco
• Founded: 2013
• Notable portfolio companies: Convoy (acquired by Flexport), Current, Metabase, Sleeper
• Portfolio size: Over 125 investments and 14 exits

You can refer to their website here.

7. Graph Ventures

Graph Ventures is an early-stage investment group based in Palo Alto, composed of founders and operators with global experience. Since 2007, they have backed over 160 companies, focusing on helping new businesses scale.

The firm is defined by its operator-led model, investing across a wide spectrum from seed to late-stage rounds. Their portfolio includes well-known consumer brands like Hinge and Blue Apron, showing a strong record with companies that achieve mainstream success.

Graph Ventures could be a good partner if you are an early-stage founder who values guidance from experienced operators. Their track record with major consumer exits makes them particularly interesting for companies with a strong B2C or community-driven model.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed to late-stage venture
• Industries of focus: B2B, Consumer, Developer Tools, FinTech, Blockchain
• Geographical presence: Based in Palo Alto with a global focus
• Founded: 2007
• Notable portfolio companies: Hinge (acquired by Match Group), Houseparty (acquired by Epic Games), Blue Apron (IPO)
• Portfolio size: Over 167 investments and 34 exits

You can refer to their website here.

8. Trajectory Ventures

Based in New York, Trajectory Ventures has been backing companies driving major technological shifts since 2012. The firm invests across the entire company lifecycle, from initial seed funding and convertible notes to late-stage venture and private equity rounds.

A key characteristic is their broad investment mandate, which allows them to support companies at nearly any stage. Their portfolio highlights a focus on deep-tech sectors, with notable investments in AI chip maker Groq, space-tech company Stoke Space, and the market intelligence platform AlphaSense.

Trajectory Ventures is a good match for founders building ambitious, technically complex products with long-term potential. Their ability to invest across multiple stages makes them a valuable partner for companies looking for support throughout their growth journey.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed to Private Equity
• Industries of focus: Developer Tools, AI, Machine Learning, Aerospace, E-Commerce Platforms
• Geographical presence: Based in New York
• Founded: 2012
• Notable portfolio companies: Groq, Stoke Space, AlphaSense, Monarch Tractor, LocalMind (acquired by Airbnb)
• Portfolio size: Over 115 investments and 11 exits

You can refer to their website here.

What This Tells Us About The VC Scene for Developer Tools Companies

This overview shows that the investor community for developer tools is both active and varied. You'll find strong support at the early stages, with firms like boldstart ventures and MAGIC Fund focused on pre-seed and seed rounds. At the same time, firms such as Tola Capital and Trajectory Ventures offer capital across all growth phases, suggesting a well-balanced environment for companies at any point in their journey.

Geographically, investors are not just concentrated in Silicon Valley. With firms in New York, Seattle, and Miami, plus several with a global investment focus, you have a broad set of potential partners to consider. This diversity gives you more flexibility when building your target investor list.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Raise Confidently with Rho

Raising capital requires significant time, so your energy is best spent on conversations with relevant investors. Use this guide to build a focused list and connect with partners who understand your vision for your company.

Closing a round is a major milestone, and managing your new funding well is the critical next step. If you’ve just raised, Rho can help you set up your financial stack in minutes.

Our platform provides integrated business banking, corporate cards, and automated bill pay to help you manage capital efficiently. This lets you spend less time on finance and more time growing your business.

FAQs about Venture Capital Firms Focused on Developer Tools

What do early stage VC firms look for in a developer tools startup?

Early stage VC firms prioritize a strong technical team and a product that solves a clear developer pain point. They also look for early signs of community adoption, like GitHub stars, and a credible go-to-market strategy.

Which Boston VC firms invest in developer tools?

Boston has a strong community of tech VC firms. Investors like .406 Ventures and Glasswing Ventures are known for backing B2B software and infrastructure companies, making them good potential partners for founders building technical products in the area.

Are there European venture capital firms for SaaS startups?

Yes, many European venture capital firms focus on SaaS and developer tools. Investors like Point Nine and Seedcamp are active at the early stages, providing capital for companies with strong technical foundations and global ambitions.

What are some top AI-focused venture capital firms?

Many technology VC firms now have a strong focus on AI. Notable investors include Radical Ventures and Air Street Capital, which specialize in backing companies building foundational AI models, infrastructure, and AI-native applications for enterprise use.

How can Rho help after I raise from a software venture capital firm?

Once you secure funding, Rho helps you manage it effectively. Our platform offers integrated business banking, corporate cards, and automated payments, letting you focus on building your company. Get started with Rho today.