Siempre disfruto las buenas conversaciones sobre el estado del venture capital y el emprendimiento en nuestra región. Hace poco tuve el gusto de platicar con Mónica Mistretta, Maricela Ochoa y Francisco Iglesias, el gran equipo editorial de IT Masters Mag.
Fue una charla sobre el ecosistema de emprendimiento en México. Conversamos sobre sus particularidades, los retos actuales y las características que definen a los emprendedores mexicanos que buscan escalar y construir empresas de impacto.
The news landed last week, and it’s a profoundly sobering moment for anyone who cares about this planet: Dr. Jane Goodall has passed away at 91.
She was the pioneering primatologist and probably the top biologist of her time. Her groundbreaking discoveries—that chimpanzees use tools, have distinct personalities, and complex social lives—didn’t just change science; they forced humanity to look at itself in a new, humbler mirror. Incredibly enough, she first went to Tanzania in 1960 without a college degree. She was a young woman who dared to get up close and personal with animals most people thought were just “things.” You can read her definitive obituary here.
This news hit my wife and me especially hard because we attended her last conference, which was right here in Mexico City, the Saturday before her passing. Being in the room and hearing her voice—still sharp, still full of fire—was a powerful, final experience.
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At Dalus, we are convinced that AI will create a massive disruption, unlocking huge productivity gains for businesses in the short and medium term. We have been actively investing in AI-native startups that are developing easy-to-deploy tools to solve specific business problems.
These companies are building products on top of LLMs to work more efficiently. For example, our portfolio company Darwin AI, which recently announced a new funding round, develops AI agents—think of them as digital workers—hyper-focused on sales processes. Another investment, Qomplement, automates data entry from PDFs to Excel and ERPs, cutting up to 90% of manual work. And we have other very exciting companies in our investment pipeline.💡
Continue readingA pretty accurate representation of AI versus existing digital infrastructure. That slingshot is about to launch.
What do you think happens when it does? 😬
I’m thrilled to share that our portfolio company, Darwin AI, has closed a $4.5 million funding round led by Base10 Partners. 🚀 We at Dalus are excited to be participating in the round alongside other previous investors, doubling down on our belief in the team.
Darwin AI is building the future of business operations with AI agents, with a sharp focus on the Spanish and Portuguese-speaking markets in Latam (try them here). The traction is already undeniable: they’ve onboarded more than 300 clients across 20 countries and have surpassed $2 million in annual booked revenues.
Continue readingThis past weekend I read the AI 2027 report, a fascinating piece of future foresight on the trajectory of artificial intelligence, released a few months ago. The report is long, dense, and full of tech jargon, but it lays out two vivid scenarios for how AI might evolve over the next five years.
The methodology follows the practice of “future foresight,” where scenarios are created and presented as a chronological story, without assigning them an exact probability of occurrence. This approach does not aim to predict the future, but to explore plausible paths, stress-test assumptions, and open space for informed debate about what might happen.
The report was created by Daniel Kokotajlo, Scott Alexander, Thomas Larsen, and Eli Lifland under the collective name AI Futures Project. Their goal is to draw attention to the possible implications of AI’s extremely rapid progress. The intent is not to predict the future with certainty, but rather to generate realistic scenarios that can spark conversations about public policy and preparedness, recognizing that the exact forecast and timing could change.
Continue readingLAVCA released its semi-annual metrics on the Latin American startup and VC ecosystem for the first half of 2025. There’s plenty to analyze, but I want to highlight three aspects.
Latam VC investment volumes remain flat
Total investment value stayed essentially flat in the first half of 2025, with a slight downward bias. In fact, volumes have been holding steady at more or less the same level since 2H22, when the global correction in VC fully hit Latin America. The positive side is that this suggests we have reached the bottom of the cycle, and further material declines seem unlikely.
Here are a few books I read recently that are worth checking out.
Fiction
I came across this recent report from Coatue, a large global crossover fund investing in both public and private tech companies, presented at their EMW 2025 conference. It’s packed with data-driven insights into how the tech sector is evolving, especially in the context of the ongoing AI wave.
Despite an uncertain economic environment—tariff tensions, inflation, shifting interest rates—and a volatile geopolitical backdrop with wars in Ukraine and the Middle East, tech stocks have performed remarkably well over the past three years.
The report shows we’re still in the early phases of the AI innovation cycle. Some players, public and private, are already gaining traction and market value. But it’s too soon to name the long-term winners. It feels reminiscent of earlier tech waves that produced giants like Apple, Microsoft, and Meta.
At Dalus Capital, my fund, we invest at the early stages of tech innovation. What we’re seeing on the ground is incredibly exciting and signals that the medium-term evolution of the sector will be transformative. With strong execution and some luck, we hope a few of our investments will become winners in this wave.
If you follow tech, startups, or the future of AI, this is a valuable read.
Full report here.
I’m very happy to share that my firm, Dalus Capital, has been named one of the 100 winners of the Carbon Positive Awards 2025 by Green Cross United Kingdom (G+UK). We were recognized in the category of venture capital for digital innovation in climate solutions.
This was a nice surprise—we didn’t even know we were being considered! You can see the full list of winners here, which ranges from leading global tech companies like Apple, Google, and Microsoft to government entities such as the City of Copenhagen.
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