Two Small Fish

We are thrilled to have both Eva and Allen back at the University of Toronto Engineering to share their "Turning a Scientist into an Entrepreneur" masterclass! Space is limited so register as soon as possible. We hope to see you there!

🚀 Fireside Chat with Eva Lau: Building a Defensible Business 🚀 Join us for an evening of inspiration, strategy, and leadership insights with Eva Lau, Co-Founder & Managing Partner of Two Small Fish Ventures. In this exclusive fireside chat, Eva will reveal: 💡 How to Build a Defensible Business: Establish competitive moats. 💡 Leadership for Success: Master the mindset and strategies that fuel long-term growth. 💡 Practical Insights: Learn actionable tactics to thrive in today’s competitive landscape. This is an unmissable opportunity for founders, leaders, and innovators ready to level up their business and leadership game! Event Details: 🗓 Date: February 25, 2025 ⏰ Time: 5:30 PM – 7:00 PM 📍 Location: OneEleven 🚨 Spaces are limited—secure your spot now! 🚨 RSVP here- https://lu.ma/6ls0p0x5

Last week, Brandon, Albert, and I visited C2MI, Canada's premier microelectronics research centre in Bromont, Quebec. I'm struck by how closely their work aligns with our investment thesis at Two Small Fish. As we focus on the convergence of hardware and software, particularly innovations pushing the next frontier in computing and new applications, C2MI is a crucial player in this landscape. The centre's ecosystem provides a unique environment for developing cutting-edge technologies in robotics, semiconductors, and industrial automation. This collaborative approach, bridging academic research and industrial application, is precisely the kind of ecosystem we believe will drive the next wave of technological breakthroughs. C2MI's state-of-the-art facilities offer an unparalleled platform for prototyping and commercializing deep tech innovations. Their work in advanced packaging and microsystems is particularly intriguing, as it addresses critical challenges in the hardware-software interface that we see as key to future computing paradigms. With Technum Québec positioning itself as a critical entrepreneurial interface, the momentum in this ecosystem is even more promising - creating a comprehensive pathway from research to commercialization that's essential for hard tech innovation. Thanks, Alan Renaudin, for hosting us. As we continue to explore investment opportunities in robotics, industrial automation, and other deep tech sectors, centres like C2MI play a vital role in nurturing the hard tech ecosystem. Their ability to accelerate the journey from concept to market-ready products aligns perfectly with our investment strategy in transformative technologies. I am excited to see how collaborations fostered by C2MI will shape the future of Canadian innovation in hard tech. #DeepTech #HardwareInnovation #CanadianTech

Last week, we had the pleasure of sharing meaningful conversations with an incredible group of deep tech women entrepreneurs in Montreal over dinner. Huge thanks to Front Row Ventures for co-hosting our School of Fish dinner and helping create a safe, intimate space for these powerful exchanges. Movies like Hidden Figures, Radioactive, and The Imitation Game reflect the historical contributions of women scientists in a theatrical setting, showcasing their undeniable impact on innovation. Yet, even in our era, women entrepreneurs driving breakthroughs in science and engineering don’t always receive more support than previous generations. That’s why our curated School of Fish dinner for this group of innovators is so special. As a woman in STEM, an entrepreneur, and now a VC, I deeply understand the importance of building these spaces and showing up for this amazing community. Thank you to everyone who joined us, and special thanks to the organizers who made it happen. Naomi at Two Small Fish Ventures will be curating more amazing School of Fish experiences this year—connect with her to explore the chance to join us at one of our future events! Emmanuelle Coppinger Karina Gasbarrino, PhD Sarah Lambert Diana Virgovicova Alexia Kirby Nardin Nakhla Madison Santos Chloë Ryan Nivatha Balendra Negin Ashouri

We are so excited to welcome Mikayla Wronko as an Investment Analyst! We are looking forward to the expertise and fresh perspectives that she brings to identify and support groundbreaking opportunities at Two Small Fish. Mikayla recently finished her Master’s degree in Business Administration in Technology Leadership (Tech MBA) from the Schulich School of Business - York University. She also holds undergraduate degrees in Economics and Computer Science from Queen's University. As we continue to invest in the next frontier of computing, Mikayla’s unique background will enable us to connect with and support visionary founders driving innovation in AI, advanced computing, and transformative technologies. Welcome to the team, Mikayla! 🎉

Welcome Albert Chen to our team! We are so excited that with Albert’s experience and knowledge in deep tech innovation, we can connect and help even more founders to bring their groundbreaking innovations into the market!

This week, we hosted our annual “School of Fish” Portfolio Holiday Edition, and it’s safe to say this wasn’t your average holiday party. Many of you told us how this experience stood out—how it felt different. We recognize that our founders are brilliant and want to be the best of the best. With School of Fish, we want to engage founders in new ways. That’s why, rather than having a traditional speaker, we wanted to try something different. We moderated a discussion over dinner with our founders, not only to learn but to offer support to one another. At TSF, we pride ourselves on being more than just a VC fund. We’re in this with you—because we’ve been there. We know the struggle of navigating uncharted waters, the late nights spent searching for answers, and the grit it takes to keep moving forward. That’s why we don’t just talk about supporting founders; we live it. We share real lessons we’ve learned the hard way and offer a compass when the seas get rough. 🌊 2024 has been an incredible journey, and we’re already excited for what’s ahead. Here’s to hosting more “School of Fish” gatherings in 2025, where founders can connect, reflect, and grow together. Thank you to everyone who joined us—you’re the reason this community feels so special. 🐠🐠✨ #TwoSmallFish #ForFounders #SchoolOfFish #TSFCommunity #LessonsLearned #NavigatingTogether

We in Two Small Fish Ventures don’t encourage founders to think too much about their exit strategy. Building an amazing company is what should be on their minds. But when and if it’s time to exit, founders need to craft a “crown jewel” strategy to get the best outcome. Think how to make it a 1+1=10 situation. Or even better, 1+1=♾️ I hope you find this article from BetaKit useful. #startup #MergerAquisition #scaleup

It’s been an incredible couple of weeks to be a part of the Schulich School of Business - York University community! We had the privilege of attending two fantastic events that have left us inspired and re-energized: 1️⃣ Cherry Rose Tan, MBA, MA's Book Launch 📚 Cherry Rose’s new book “Still Standing: What It Takes to Thrive and Innovate in a Messy World” dives deep into mental health and the realities of being a founder. It was an incredibly eye-opening and heartfelt experience. Hearing her speak so vulnerably about the challenges founders face—and the importance of prioritizing well-being—was a reminder of the power of community and support in entrepreneurship. 2️⃣ Fall Mixer hosted by Schulich Startups🤝 This was a wonderful opportunity to catch up with old friends, make new connections, and reflect on shared experiences. One of the highlights was hearing our talented investment analyst, Mikayla Wronko, share her journey from Schulich to joining us here at TSF. Her story was inspiring and a testament to how transformative the Schulich experience can be. Thank you, Chris Carder, for these awesome events. We are grateful for the vibrant Schulich community and the many opportunities it brings to learn, grow, and connect. 💙 Looking forward to more events like these in the future! #Networking #Schulich #Entrepreneurship #VC #MentalHealth #LifelongLearning

Building technology is about founders creating what they love. Building a product is about creating something others love to use. Commercialization is about building something people will pay for. These three phases are related but distinct. For deep tech companies, these phases often have minimal overlap and unfold sequentially. At Two Small Fish Ventures, we are thoughtful and experienced investors. We understand that starting to generate revenue—or choosing not to—at the right time is one of the secrets to a company’s success that very few have mastered. No revenue? No problem. In fact, that’s great. Bring them on! Read my blog post for more details.