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Garage Capital

Garage Capital is a Waterloo-region pre-seed and seed fund started in 2013 by BufferBox's Mike McCauley and Vidyard's Michael Litt and Devon Galloway. It invests across Canada and the US in two buckets it calls enterprise software and moonshots.

Venture CapitalKitchenerFounded 2013garage.vc
250+companies backed, at a collective valuation the firm puts above $30Bgarage.vc, read 2026-08-19
2 categoriesenterprise software and moonshots — all pre-seed and seed, based in Waterloo, investing across Canada and the USTechTO stage 2026-06-10

The people

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Working at Garage Capital

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On the TechTO stage

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About

Garage Capital was set up by three Waterloo founders who had raised money the hard way. Mike McCauley had built BufferBox, the parcel-locker company Google acquired; Michael Litt and Devon Galloway had built Vidyard. They wanted the kind of early-stage capital that existed in Silicon Valley to exist in Waterloo too, and started writing pre-seed and seed cheques in 2013. The fund now invests across Canada and the US in two categories — enterprise software, and what McCauley calls moonshots — and its founding team has hands-on experience in both. McCauley sat on the investor panel at TiEQuest 2026, hosted by TechTO.

Backers

An independent fund; it has drawn on the federal Venture Capital Catalyst Initiative alongside private limited partners

Some figures are founder-stated, not independently confirmed

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Quick answers

Who founded Garage Capital?

Mike McCauley, who co-founded BufferBox, and Vidyard co-founders Michael Litt and Devon Galloway. They started the fund in 2013 in the Waterloo region.

What does Garage Capital invest in?

Pre-seed and seed rounds in two categories: enterprise software, and moonshots. It is based in Waterloo but invests across Canada and the US.

Why was it started?

Because its founders had had to look outside Canada for early-stage money. They wanted the founder-run seed funds common in Silicon Valley to exist in Waterloo, where there were none at the time.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 19, 2026