Garage Canada in the deadpool?

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Garage Canada has had, to say the least, a poor reputation as of late. Fundings that happened, and then didn’t happen, a lack of activity and general uncertainty about just how serious they were.

It seems that things may have finally come to pass, and Garage Canada appears to have called it quits.

Lawyer Suzie Dingwell-Williams notes

Now, the Garage Canada web site is down, there is no reference to the affiliate on Garage’s US site (although Tom used to be listed as an advisor) and there comes news that some of the former fund staffers are forming a new entity St Lawrence Capital(no website yet). What happened to the portfolio, and the undeployed capital contributed by Quebec LPs like Caisse and Soldiarity Fund QFL?

I have sent out a few emails to find out what is going on. If you have any insight, comment below.

Comments

15 responses to “Garage Canada in the deadpool?”

October 16, 2008

Heri

Garage Canada also announced at one time an investment here

http://montrealtechwatch.com/2007/10/11/garage-canada-invests-25m-into-lure-media/

it turned out that they didn’t do a serious due diligence, turned out after the investment that the CEO frauded with false accounting books and figures.

also see here http://dawalibi.blogspot.com/ a few weeks ago, when I added the blog to MTW’s blogroll, the author presented himself as a partner at GarageCanada and now it’s just “VC whisperer”

this is sad, they used to sponsor democamps and barcamps.

Reply
October 16, 2008

heri

Garage Canada also announced at one time an investment here

http://montrealtechwatch.com/2007/10/11/garage-…

it turned out that they didn't do a serious due diligence, turned out after the investment that the CEO frauded with false accounting books and figures.

also see here http://dawalibi.blogspot.com/ a few weeks ago, when I added the blog to MTW's blogroll, the author presented himself as a partner at GarageCanada and now it's just “VC whisperer”

this is sad, they used to sponsor democamps and barcamps.

Reply
October 17, 2008

Mark MacLeod

I believe Garage is alive, though perhaps not well. They have some news regarding the fund coming out soon. Also, last time I checked Paul the VC whisperer was not a partner.

Reply
1. October 17, 2008
  
  Heri
  
  About Paul, you maybe right. I’ve only met Tom Sweeney
  
  Reply
October 17, 2008

Mark MacLeod

I believe Garage is alive, though perhaps not well. They have some news regarding the fund coming out soon. Also, last time I checked Paul the VC whisperer was not a partner.

Reply
October 17, 2008

Heri

About Paul, you maybe right. I've only met Tom Sweeney

Reply
October 17, 2008

Sylvain Carle

Come on guys, could you try to use a bit of old-school journalistic investigation here? Just ask them, it’s not like contact information is hard to find using google (http://www.google.com/search?q=garage+ventures+canada) – second hit has all the emails and phone number.

I am not a spokesperson for Garage at all, but as a co-founder of an alive-and-kicking investment of Garage I can tell you that albeit a few hiccups in the last year with some of their investments (and seriously, what VC has a perfect track record?) I can say that they have been great to us.

So please, go to the source and ask some questions, this is, as we say in Quebec “beaucoup de bruit pour rien”…

Reply
1. October 17, 2008
  
  Jevon
  
  I would not want to be confused for a journalist. That is why we have a comments section!
  
  Tell them their website has been down for a long time the next time you are talking to them. 😉
  
  Reply
2. November 5, 2008
  
  peter
  
  I am always suprised to wich lenght the Montreal start-up scene is afraid of admiting that there are some serious flaws in the VC market, the fact is there is really not much strong VC around and the investments are few and far appart.
  
  Garage Canada had a terrible track record and was far from what can be considered a good VC, I would not be suprised if they are restructuring, in fact they should, and I hope they will do better in the future but for now Garage Canada is simply a FAIL.
  
  Reply
October 17, 2008

sylvaincarle

Come on guys, could you try to use a bit of old-school journalistic investigation here? Just ask them, it's not like contact information is hard to find using google (http://www.google.com/search?q=garage+ventures+…) – second hit has all the emails and phone number.

I am not a spokesperson for Garage at all, but as a co-founder of an alive-and-kicking investment of Garage I can tell you that albeit a few hiccups in the last year with some of their investments (and seriously, what VC has a perfect track record?) I can say that they have been great to us.

So please, go to the source and ask some questions, this is, as we say in Quebec “beaucoup de bruit pour rien”…

Reply
October 17, 2008

Jevon

I would not want to be confused for a journalist. That is why we have a comments section!

Tell them their website has been down for a long time the next time you are talking to them. 😉

Reply
November 5, 2008

peter

I am always suprised to wich lenght the Montreal start-up scene is afraid of admiting that there are some serious flaws in the VC market, the fact is there is really not much strong VC around and the investments are few and far appart.

Garage Canada had a terrible track record and was far from what can be considered a good VC, I would not be suprised if they are restructuring, in fact they should, and I hope they will do better in the future but for now Garage Canada is simply a FAIL.

Reply
August 10, 2009

Mississauga Garage Door

What is the url of Garage Canada website? I’ m Canadian in Toronto, how come i’ve never heard of this before.

Reply
August 10, 2009

Mississauga Garage Door

What is the url of Garage Canada website? I’ m Canadian in Toronto, how come i’ve never heard of this before.

Reply
August 10, 2009

Mississauga Garage Door

What is the url of Garage Canada website? I' m Canadian in Toronto, how come i've never heard of this before.

Reply