Two Small Fish Ventures

Two Small Fish Ventures (TSFV) is a Toronto-based early-stage venture capital firm founded by Eva and Allen Lau, both experienced entrepreneurs with deep expertise in technology and scaling startups. Known for its unique approach, TSFV invests in early-stage products, platforms, and protocols that transform user behaviors and create impactful value. They are particularly focused on sectors like AI, deep tech, and next-generation computing, with a strong emphasis on spotting and backing visionary founders before their disruptive technologies reshape industries. TSFV typically leads or co-leads pre-seed and seed rounds, though they also syndicate with other investors. The firm is deeply involved in the operations of their portfolio companies, providing mentorship and leveraging their entrepreneurial experience to help founders scale. Some of their notable investments include SkipTheDishes, BenchSci, and the AI-driven Ideogram, a MidJourney competitor that recently raised significant capital​. Their third fund, TSFV Fund III, closed at $41 million CAD and focuses on the next frontier of computing, investing in startups with transformative potential. The firm’s strong ties to Canada’s startup ecosystem are complemented by partnerships with global investors like Andreessen Horowitz.