Devolutions launches venture arm for IT software investments

Devolutions has launched Devolutions Ventures, a new division that will invest in companies and projects serving IT teams and managed service providers.

The move formalises seven investments, acquisitions and sponsorships made since 2025. Those deals span artificial intelligence automation, network monitoring, open source software and IT automation.

Canada-based Devolutions, which focuses on secure access and IT management tools, said the venture arm will target areas including secure access, network performance and automation. Individual investments to date have typically ranged from USD $500,000 to USD $3 million per company.

Those transactions include Mizo, dbatools.pro, Obkio, UniGetUI, Avalonia UI, PowerShell Universal and ControlR. Backed businesses will continue to operate independently, keeping their existing leadership teams and product roadmaps.

The launch puts Devolutions among technology suppliers using a corporate venture structure to expand across specialist software markets without fully absorbing the companies involved. It is not pursuing a consolidation strategy, but instead aims to assemble a group of related tools for IT departments and managed service providers.

That approach reflects the fragmented nature of the market. IT operations teams and service providers often rely on a mix of security products, remote access tools, automation software, monitoring systems and developer-focused utilities, creating openings for investors with established customer bases and sector knowledge.

Devolutions said one attraction for portfolio companies is access to its user community, which it says includes more than one million IT professionals across 140 countries. Investee companies can also draw on its experience in go-to-market, security and community building while remaining separate businesses.

David Hervieux, Chief Executive Officer of Devolutions, set out the rationale for creating a formal investment unit after more than a year of deal activity.

"We've spent more than 15 years building technology for IT teams, so we understand both the problems they face and what it takes to build for this market," said David Hervieux, Chief Executive Officer of Devolutions.

"We're approaching Devolutions Ventures as advisors, not simply investors. We want to back strong teams for the long term, give them room to keep building and use what we've learned to help them grow," Hervieux said.

Portfolio strategy

The companies named by Devolutions cover a broad set of functions. Obkio works in network monitoring, while Avalonia UI is known for cross-platform user interface development tools. PowerShell Universal is associated with automation and administration workflows, and UniGetUI is an open source utility software project.

By grouping investments across those adjacent categories, Devolutions appears to be positioning itself around the day-to-day software stack used by IT administrators and managed service providers, rather than limiting the fund to cybersecurity alone. The inclusion of both commercial businesses and open source projects also suggests a broader view of where strategic value sits in the IT toolchain.

That may matter in a market where managed service providers increasingly want integrated workflows but still buy from many specialist vendors. A venture structure gives Devolutions a way to build relationships across that landscape while allowing founders to retain control over product direction.

One of the companies already backed by Devolutions said the relationship has extended beyond funding.

"Devolutions brought us much more than capital," said Mike James, Chief Executive Officer of Avalonia UI.

"They understand our customers, our market and what it takes to build a technology company in this space. That combination of investment and operating experience made them a particularly valuable partner as we continue through our next phase of growth," James said.

Broader push

The establishment of Devolutions Ventures also gives the company a clearer structure for future deals. It plans to expand its network of investments and partnerships across the IT and managed service provider ecosystem, building on work already carried out in AI, network technologies, developer tools and open source software.

Corporate venture activity in enterprise technology has often centred on large platform vendors, but more specialised software providers have also used investment arms to build closer ties with emerging products and developer communities. For a company such as Devolutions, whose core business includes remote connections, password management and privileged access, that model offers a route into adjacent segments without requiring a full acquisition programme.

Devolutions said more than one million users across 140 countries use its products, which are designed to help organisations manage privileged access, passwords and remote connections. Its seven investments, acquisitions and sponsorships now form the starting portfolio for Devolutions Ventures, with typical deal sizes so far ranging from USD $500,000 to USD $3 million.