Given the quality of Canada's underfunded entrepreneurs, the inevitable has happened: a big US VC firm is moving north. Guy Kawasaki's Garage technology Ventures opened an office in Montreal yesterday. With $50 million in hand their plan is to make $100 Million available for investment by next year.

"We're very excited about this new venture," said Bill Reichert, managing director of Garage Technology Ventures in Palo Alto. "This is the realization of a vision Tom and Louis brought to us several years ago. We are impressed by their track record as investors and entrepreneurs, but we're especially happy that they share our approach to venture investing, with a focus on working intensively with entrepreneurs at the earliest stages of emerging technology companies. With their location in the heart of one of the most vibrant technology hubs in Canada, they enable us to span the North American continent, while we will facilitate their access to the Silicon Valley hub for emerging technologies."