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Garage.com Hits $100 Million Mark, Crosses the Pond

Internet venture capital firm Garage.com Friday said it raised $100 million for startups last year, and topped off the milestone with news on its international expansion strategy.

The startup investor intends to open a London office by the end of this quarter, which will cater to Garage.com's investment strategy in Europe. The new expansion follows up on its first overseas initiative in Israel, which opened last month.

Garage.com says it has helped 40 startups in the past year, its first full year in the VC business. The company's investment stable includes drDrew.com, iCopyright, Startups.com, and Virtualis.

"There is tremendous startup activity around the world," said Guy Kawasaki, Garage.com's Chief Executive Officer. "We're receiving forty to fifty business plans per day, and we're expanding rapidly to help meet the demand."

Kawasaki said the company's mission was to democratize venture capital, and plans to take its vision to Europe in order to level the playing field by giving select startups access to global investors.

The company also doubled the number of Bootcamp for Startups programs, doubling its schedule to host eight events this year. The series starts in February in Seattle, and includes a stop at an unspecified European city in June.