Intimate venue. Intimate shows.
Is it funny? That's up to you. They have a plethora of improv and sketch shows which are quite different, and always changing.
When it comes to comedy, I personally prefer stand up. However, I've seen a few shows at Bad Dog and they were excellent. They were all interesting, and often hilarious.
If you mention improv, most people in Toronto will think of Second City. The truth is that Bad Dog has many of the elite improvisers that came up through Second City, and I would argue that Bad Dog is a better venue.
I think Bad Dog's venue is perfect for improv. The venue itself is basically just a small room. Seating is weird.... there are 2 rows which sit stage left and run the entire length of the stage.
That row of seating was pretty strange for stand up. Some of the stand up performers felt surrounded and they were thrown off by it. This added some intentional / unintentional comedy due to awkwardness.
For Improv, the strange seating is perfect. Improv has always been interactive, so being surrounded by seating gives the feeling that the audience is immersed in the act.
Bad Dog offers a full range of classes, lead by the best improvisers in the city.
Inject some random fun into your life:
http://baddogtheatre.com/
BTW Don't be tempted by the nearby McDonalds. There is a 24 hour Portuguese bakery a couple blocks west of the theatre.