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Garage launched as garage.com in 1998. Initially operating as an accelerator, over the next five years Garage helped over 100 startups raise over $400 million, including such companies as Pandora Media, Tripwire, Lefthand Networks, SalvageSale, Hoku Scientific, and Digital Fountain. Garage has also produced an acclaimed series of events including Bootcamp for Startups, Silicon Valley 4.0, The Art of the Start, and Launch: Silicon Valley. Garage was initially funded by some of the leading venture capital firms and angel investors in the industry, including Advanced Technology Ventures, Silicon Valley Bank, Draper Fisher Jurvetson, Mayfield Fund, E*Trade, Highland Capital, and Sequoia Capital. When the supply of early-stage venture capital dried up in 2002, we changed our name to Garage Technology Ventures and became a seed and early-stage venture capital fund. CalPERS, the California Public Employees' Retirement Fund, is the lead investor in Garage's first fund, the Garage California Entrepreneurs Fund, LP. Thomas Weisel Global Growth Partners became an investor in 2006. Garage seeks technology based investments from $500,000 to $3 million, requiring less than $5,000,000 to reach break even or sustainability. Garage Technology Ventures announced (July 2014) the launch of a new investment fund with 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. The firm is not interested in teams creating the nth solution to the same old problem nor companies trying to improve things by only 10 or 20 percent.
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