Silicon Valley-based Garage Technology Ventures has launched its fifth fund and signed up two anchor investors for it. The fund’s target was not disclosed. Also, the firm has just opened an office in Hong Kong.
Los Altos, CA (PRWEB) July 24, 2014
Garage Technology Ventures, a leading seed and early stage venture capital fund, has signed up two anchor investors for its latest fund. The fund is the fifth investment fund raised by Garage since the firm launched in 1998.
The fund is designed to give investors access to emerging technologies with the potential to have a global impact that may be strategically relevant to the investors. The new fund has an international component, tapping into opportunities to leverage Garage’s strong cross-Pacific connections. Garage focuses on investing in seed and early stage companies, but in some cases, Garage will be investing in growth stage companies to give its investors the opportunity to take advantage of strategic investment situations.
The standard Garage initial investment starts with $250,000 to $500,000. In partnership with the fund’s investors, however, Garage will have the ability to invest up to $5 million in a single company. Garage will continue its strategy of syndicating investments with top tier venture capital firms as well as angel investors. The fund has a stated interest in technologies in the areas of Enterprise & Cloud, Software & Services, Mobility, Consumer Internet, Digital Media, Intelligent Systems, Robotics and the Internet of Things.
“Beyond these sectors, the fund is especially interested in brilliant new technologies that don’t even have a label yet,” said Bill Reichert, Managing Director at Garage. “We are partnering with global investors who are looking to get the inside track on emerging technologies with the potential to change their worlds.”
“Our mission is to invest in companies developing novel technologies and compelling business models in high growth sectors where, with Garage’s help, the companies can establish an unfair advantage,” said Sam Kwok, a partner at Garage. “The fund provides investors with privileged access to top-tier investment opportunities and the earliest stages of technology innovation in the Silicon Valley.”
In conjunction with the new fund, Garage has opened an office in Hong Kong. Garage’s offices in the Silicon Valley and Hong Kong will manage deal flow, co-investor sourcing, and post-investment monitoring. The two anchor investors, Asian family offices, have chosen to remain anonymous for now.
“Corporate and other strategic investors see the need to participate more aggressively in the new venture ecosystem,” said Henry Wong, Managing Director of the new fund. “At the same time, global strategic investors can bring a lot more than just money to an emerging technology company, if the relationship is managed correctly. The result is a win-win for entrepreneurs and for investors.”
About Garage Technology Ventures
Garage Technology Ventures is a venture capital firm based in Silicon Valley and focused on finding brilliant entrepreneurs with path-breaking technologies that have the potential to have a substantial global impact. Since its launch in 1998, Garage has funded over 150 emerging technology companies, including many companies that have become leaders in their sectors, such as Pandora Media, Motley Fool, LeftHand Networks, Tripwire, Coremetrics, Simply Hired, CaseStack, D.light Design, and WhiteHat Security.
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