AI investment firm DevCap closes $5 million as it eyes public listing

Montréal-based Developer Capital ( DevCap ) has closed another $5 million CAD to invest in early-stage AI startups in what co-founder and CEO Jordan Steiner referred to as a “seed” round. DevCap operates differently from most venture capital (VC) firms. Born out of Montréal-based full-stack software development consultancy Monadical in 2023, the firm is an evergreen investment corporation with no management fees.