Garage Capital

Garage Capital is a prominent early-stage venture capital firm co-founded by Chris Arsenault and Mike McCauley, with a dedicated focus on investing in Canadian technology companies. Based in Kitchener, Ontario, the firm has established itself as a key player in the Canadian startup ecosystem, primarily targeting Seed and Series A stage companies. Their investment philosophy emphasizes being founder-friendly, providing not just capital but also strategic guidance and access to a robust network to help portfolio companies scale.

Over the years, Garage Capital has demonstrated consistent growth in its fund sizes and investment activity. The firm successfully closed its fifth fund, Garage Capital V, in 2022, raising $35 million CAD. This latest fund follows previous successful raises, including Fund IV at $25 million CAD and Fund III at $15 million CAD, showcasing a steady increase in their capacity to support promising Canadian ventures. Their portfolio spans a diverse range of sectors within technology, reflecting their broad interest in innovative solutions.

Garage Capital typically provides initial cheques ranging from $500,000 to $1.5 million CAD for their investments. This range allows them to support companies from their very early stages through significant growth milestones. The firm has made over 100 investments to date, contributing to the development of numerous successful Canadian tech companies such as Wealthsimple, Ritual, Bench, and Top Hat. Their long-term commitment to the Canadian market underscores their belief in the potential of local founders and their ability to build globally competitive businesses.