Specialist · Montreal, QC
Developer Capital (DevCap)
Capital plus a dev team for early-stage AI.
- Cheque
- $100k to $400k
- Role
- Can lead a round
- Pace
- Selective right now
- Kind
- Specialist
- Based in
- Montreal, QC
- Vehicle size
- $5M
- Founded
- 2023
- Works in
- EN + FR
- Last deal seen
- January 2026
- Sectors
- AI and machine learning
Their thesis, in full
Developer Capital (DevCap) is a Montreal evergreen investment corporation, sponsored by software consultancy Monadical, that backs pre-seed and seed-stage AI startups across North America and Europe. It pairs cheques of $100K to $400K with hands-on access to Monadical's 30-plus developer team, has backed about 10 companies (including Rithmik, Unified.to, Backboard.io, Mycroft and Glowtify), and closed an additional $5M at $0.15 per share in May 2026 as it eyes a public listing by 2028.
What they bring past the cheque
- In-house software development team
- AI product-build support
- No management fees
- Evergreen patient capital
- Technical founder empathy
Questions they usually ask
Have an answer ready for each one before the first call.
- What part of your AI product would move fastest with an embedded development team?
- Are you comfortable with patient evergreen capital rather than a fixed-term fund timeline?
- What does your first $1M of revenue depend on?
Follow-on
DevCap recycles returns through its evergreen structure and can increase its stake in high-potential portfolio companies while continuing to support them with engineering capacity. It introduces founders to traditional VCs when a priced round is the right next step.
Who to talk to
- Jordan SteinerCEOLinkedIn ↗
Portfolio
Names they back, most notable first.
- Backboard.ioPre-seed · 2026
- MycroftSeed · 2025
- GlowtifySeed · 2025
- Rithmik SolutionsSeed · 2024
- Unified.toPre-seed · 2024
- EdgeScale AI
Similar investors
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