Garage Canada: Failed Experiment?
Two years ago, much was made of the lunch of a Canadian affiliate of Guy Kawasaki's Garage Technology Ventures. Tom Sweeney (formerly of Bluetooth start-up Classwave Wireless) and Louis Desmarais(ex-Skypoint Capital) tagged to lead the fund, and spent the next 12 months or so marketing the heck out of the brand. A few investments were made - Group IV in Ottawa, Thermoceramix, Inscape, Lure Media. Then, about six months or so passed with a continuing silence.
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?
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?
posted by Suzanne Dingwall Williams at
10:48 AM
2 Comments:
Interesting but not suprising, having been funded by these guys was one of the worst experience we ever had. They were really, really junior and confused. I guess they were not good for Guy's brand.
The portfolio is alive and well, albeit under a new name. Moreover, the management is extremely involved in their companies and highly valued by them. I speak as the Chief Technology Officer of ThermoCeramix.
By the way, the author of the first comment, who takes Garage's money then anonymously disparages them with no facts, deserves nothing but contempt.
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