Garage Capital initial closes third fund

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By Ted Liu

Garage Capital, an entrepreneur-venture capital firm, has held an initial close for its third fund, Garage III, raising US $[mepr-active rule=”374″ ifallowed=”hide”]#Premium Subscribers ONLY Content – research and intelligence – know others don’t, be informed.#[/mepr-active][mepr-active rule=”374″]9.375 million from 12 Canadian and 1 US LPs. 10 Ontario LPs committed $8.783 million while the single US LP committted 2.632 million.[/mepr-active]

The fund has reportedly secured $5-15 million under federal government’s Venture Capital Catalyst Initiative (VCCI).

The fund is led by co-founders of Vidyard and former founder of Buffer Box.

Garage II closed in 2015 with capital commitments of US $7 million, the majority of it came from federal government venture capital arm BDC Capital.

photo credit: RyanMcGuire via pixabay