The Garage Help Center
This assistance page and the information it contains are presented solely for informational and deliberative purposes. It is not meant to serve as a recommendation for any investment or provide any other form of advice. Additionally, it does not imply or constitute an offer to buy, sell, or retain any securities or to participate in any specific transaction.
Engaging in venture investments carries inherent risks and lacks liquidity. This type of investment is highly risky and is appropriate only for investors who are sophisticated and qualified.
About The Garage Syndicate
The Garage Syndicate is a community of investors established in 2021 with representatives from the USA, Europe, Cyprus, the UK, the UAE, Saudi Arabia, Kazakhstan, the Seychelles, and Monaco. The group comprises 500 limited partners, including entrepreneurs, business angels, and top corporate executives, who are all active investors. Together, we have invested $18M in 26 companies, with $940k skin in the game from the syndicate's founders. The founders of The Garage — Igor Shoifot, Vladiir Gidirim, and Sergei Mosunov— are experienced venture investors, having engaged in hundreds of transactions with numerous successful exits. Thanks to their wide network, they have access to unique deals, which they offer to syndicate members and also invest in personally.
Legally structure consists of The Garage Syndicate Master LLC, which is an umbrella fund that arranges SPVs to participate in deals under U.S. law. The operations of the syndicate are handled by The Garage Syndicate Management LLC, which bears all legal and accounting responsibilities, as well as the tax and commercial expenses of the transactions, and ultimately distributes profits between the investors and receives a carry (success fee). The Garage Syndicate Management LLC is an Exempt Reporting Adviser (ERA) regulated by the U.S. Investment Advisers Act of 1940 (the "Advisers Act"), as amended by the Dodd-Frank Act. You can check the current status of the company’s registration as an ERAs on FINRA's website by entering the CRD # as 317618.
An SPV (Special Purpose Vehicle) is a specific type of special purpose company established for the sole purpose of investing in a particular company. All investor contributions are pooled within the SPV. Subsequently, the entire investment is transferred to the target company through a collective contribution, and the SPV is explicitly listed in the cap table of the target company. Each investor assumes ownership of a stake in the SPV proportionate to the size of their respective contribution.
The syndicate was founded by three experienced investors and entrepreneurs.
General Partner, San Francisco
Prolific VC and angel, a top investor in numerous rankings, Partner at TMT Investments, a $ 300M NAV fund, early VC in 5 unicorns, 25 profitable exits. 17 years on 2 unicorn Boards (Wrike and Backblaze). Adjunct at Berkeley and NYU. Founder of Startup Kotiki, co-founder of Fotki (25M users), CEO of the leading Microsoft WebTV site, Epsylon Games (70+ games).
Igor has made 200+ of his own investments, a member of 2 Unicorn Boards, 25 profitable exits.
General Partner, Dubai
Former partner of Deloitte and Ernst&Young and career specialist in tax structuring of private markets transactions, Vladimir has converted over time into a seasoned investor into private tech asset class through a variety of structures. Besides his role as managing partner (operations) of The Garage Syndicate, Vladimir also works as an advisor for a global VC fund.
Vladimir has made 300+ of his own investments, he's an LP in 6 fund, 8 profitable exits.
General Partner, London
Serial technology entrepreneur (built the R'AIN Group manufacturing company, zinc sulfide and selenide production, laser optics and medical laser equipment, multi-wavelength laser systems). A prolific venture capital investor, co-founder of the Angelsdeck venture community (more than $60m in investments), an active angel investor in 100+ projects. Two executive MBAs.
Sergei has made 100+ of his own investments, 6 profitable exits.
The Garage Syndicate invests in companies at Series A and Series B with a growth rate of 2x YoY, preferably located in the USA and Canada. Key Verticals:
The Syndicate exclusively invests in companies whose founders are well-known to the General Partners (GPs) personally or have been recommended by acquaintances of the GPs from venture capital funds, angel investors, or other successful funders. Despite not taking the lead in investment rounds, the Syndicate secures an allocation for co-investment. GPs always co-invest in all syndicate deals.
Experience and Result
The Garage Syndicate was launched in 2021 with a focus on investing in startups in their Series A. These companies typically require 5-7 years of active business management to achieve the kind of value growth that would be advantageous for an exit. The Garage Syndicate anticipates its first exit no earlier than 2026. Nevertheless, each of the syndicate founders boasts a track record of successful exits from previous ventures:
Igor Shoifot has made 200+ of his own investments, a member of 2 unicorn Boards, 25 profitable exits.
Vladimir Gidirim has made 300+ of his own investments, he's an LP in 6 fund, 8 profitable exits.
Sergei Mosunov has made 100+ of his own investments, 6 profitable exits.
The Garage Syndicate was launched in 2021 with a focus on investing in startups in their Series A. These companies typically require 5-7 years of active business management to achieve the kind of value growth that would be advantageous for an exit. The Garage Syndicate anticipates its first exit no earlier than 2026.
Due to the considerably higher risks associated with investing in startup companies compared to public companies, coupled with extended holding periods, substantial fees, and complete illiquidity, venture capital (VC) funds must achieve a significant outperformance relative to public stock market indices, such as the S&P 500 and NASDAQ 100, to justify their economic viability. According to detailed research by Cambridge Associates, the top quartile of VC funds has demonstrated an average annual return ranging (IRR) from 15% to 27% over the past 10 years. In comparison, the S&P 500 has yielded an average annual return of 9.9% over the same period.
Upon making an initial investment through The Garage Syndicate, it is mandatory for the entity to undergo KYC (Know Your Customer) or KYB (Know Your Business) verification. This verification process is required each time an investor initiates their first investment using a new entity, irrespective of whether they have previously undergone the process with a different entity. Please note that the investment will not be finalized until the KYC/KYB verification is successfully completed.
In accordance with the US PATRIOT Act and the Bank Secrecy Act, financial institutions are mandated to establish anti-money laundering compliance programs (AML). Aligning with these regulations and industry standards, The Garage Syndicate necessitates the submission of beneficial ownership details and identity verification for individuals, beneficial owners, companies, and trusts aiming to invest through The Garage Syndicate. This is an integral part of our KYC/KYB verification process.
If you have decided to invest with The Garage Syndicate, you will be sent a link to the KYC/KYB procedure.
Typically, individual investors are required to furnish personal details, such as date of birth and address, to establish their identity. Additionally, they may need to disclose the source of their wealth and, in some cases, upload identification documents.
For investors utilizing corporate entities for investments, the process involves submitting pertinent information about the entity, including its address, incorporation date, and possibly an Employer Identification Number (EIN). Moreover, they are expected to provide identifying details for any individual holding a claim of 25% or more of the entity's assets, along with information about a controlling person for the entity. Documentation related to entity registration and details about the ownership structure may also be required.
Participation in syndicated venture deals in the United States is open to qualified investors. Qualified investors are individuals or entities that meet specific criteria established by the U.S. Securities and Exchange Commission (SEC). Rule 501 of Regulation D of the Securities Act of 1933 (Reg. D) provides the definition for an accredited investor.
Risks and Limitation of Liability
Investing in startups is incredibly risky — please invest only what you can afford to lose. You must conduct your own background checks and make your own investment decisions. DO NOT rely on the personal motivations of The Garage Syndicate General Partners when investing. This is a startup, and there is a high probability that it will not be able to achieve the planned results and you will lose all your investments. The team may fail to acquire the partnerships they are planning, the market may stop buying their product. A major competitor may appear and destroy them. They may not raise enough capital to be profitable. Technology may change in such a way that their current product becomes obsolete. There are many more reasons why this company could fail.
The Syndicate has no rights or ability to take over the payment of taxes for investors, but the Syndicate provides all the documents that are necessary for this process. The investor's income must be self-declared by him with the tax authority he is registered with. Legal entities pay taxes in respective jurisdictions according to their chosen taxation system.