About Two Small Fish Ventures

Two Small Fish Ventures is a Toronto-based venture capital firm building what founder Eva Lau describes as a "world-class iconic venture fund" focused on early-stage deep tech investment, particularly in frontier computing. The firm invests across vertical AI platforms, physical AI, AI infrastructure, semiconductors, and smart energy distribution — domains at the cutting edge of technological transformation.

What sets Two Small Fish apart is its team composition: all partners are deep tech engineers by training who have also been operators and entrepreneurs. Lau herself co-founded Wattpad alongside her husband, scaling the platform to 100 million monthly users before its acquisition in 2021 for over $660 million USD. That experience building a world-class consumer platform now informs how the firm identifies and nurtures the next generation of tech giants.

As the firm has grown from recycling personal technology expertise into the founder ecosystem to raising institutional capital, Two Small Fish has progressively expanded its LP base from friends and family offices to institutional investors across global markets. The firm's mission is clear: back world-class companies while they're in the making, deliver strong returns, and help founders build world-transforming technology.

Opportunity

As Two Small Fish evolved from a smaller fund backed by personal networks to an institutional-grade venture platform, the firm's fundraising infrastructure struggled to keep pace with its ambition.

The core issue was fragmentation. Lau's team found themselves stitching together multiple tools to manage LP engagement — videos hosted on Vimeo, portfolio information on the firm's website, separate file storage systems for institutional data rooms, and individual folders for each LP prospect. "Everything is just being pieced together one piece at a time," Lau recalled. "And sometimes, error occurs, because you have a folder for one LP and then another one is still linking to the older version to the deck. And it's just chaotic."

The problem ran deeper than logistics. Institutional LPs demanded stringent, systematic data room structures that aligned with their review processes, while family offices and other prospects needed a more dynamic, brand-forward experience. A static slide deck couldn't convey the energy and differentiation of Two Small Fish's story. Lau recognized the firm needed multimedia content and a more compelling digital presence to capture attention in a crowded market — yet no single solution offered everything in one place.

The disconnect between Two Small Fish's world-class investment approach and its patchwork fundraising tools created an urgent need. As Lau candidly admitted, she had been approaching LP engagement from the perspective of her own constraints rather than following the advice she gives her own portfolio founders: know your customer and deliver what they need. The moment called for a platform that could match the firm's ambition with a professional, unified LP experience.

Solution

When Two Small Fish first saw Vessel's demo, the alignment was immediate. Lau recognized that the platform could solve the fragmentation problem while simultaneously elevating the firm's brand presentation to match its world-class investment thesis.

What resonated most was Vessel's ability to centralize everything — data room materials, multimedia content, and LP engagement — into a single, branded experience. "When the first time we saw the demo of Vessel, I'm like, yes, this is going to showcase us who we are, absolutely differentiate our position to the rest of the crowd, and catch a lot of attention," Lau explained. For a firm that prides itself on identifying iconic opportunities, having a platform that communicated that same caliber of excellence to LPs was essential.

The implementation was supported by Vessel's customer success team, which Lau — drawing on her experience scaling Wattpad to 100 million users — recognized as a critical differentiator. She appreciated that the team operated not as a "boutique consultancy" iterating on individual requests, but as a systematic feedback loop that collected insights to improve the product for everyone while ensuring each client's needs were met. "Being able to be close to your customer, at least the very beginning, the early adopters, knowing what their pain points are, knowing why they're loving you and amplify that love — that is essential," Lau noted, praising Vessel's investment in customer success as exactly the right strategic decision.

The platform allowed Two Small Fish to present organized, clean content with multimedia elements that a traditional slide deck could never achieve — creating a digital experience that reflected the firm's identity as operators, engineers, and builders of iconic companies.

Mid-Story Quote

"There's so many LPs who came to us after they reviewed the data room and went to the Vessel platform — they're like, this is by far the best portal for an LP prospect they have ever seen." — Eva Lau, Founder & Managing Partner, Two Small Fish Ventures

Results

Since implementing Vessel, Two Small Fish has transformed how it presents itself to the institutional LP market — replacing a fragmented, error-prone patchwork of tools with a unified platform that reflects the firm's world-class standards.

Centralized LP Engagement

All fundraising materials, multimedia content, and data room documents now live in a single branded environment. The days of maintaining separate folders across multiple platforms — with the constant risk of sending outdated links — are over. Every LP prospect receives a consistent, current experience from their first interaction.

Elevated Brand Differentiation

Two Small Fish now presents itself with the same caliber of professionalism that defines its investment approach. The platform's support for multimedia content allows the firm to go beyond static slide decks and tell a richer, more compelling story — capturing attention in a competitive fundraising landscape where differentiation is paramount.

Institutional-Grade Organization

Institutional LPs who require systematic, structured data room access now receive exactly that — without the firm having to maintain separate infrastructure. The platform accommodates the stringent review processes of institutional investors while remaining intuitive for family offices and other LP types.

Reduced Errors and Operational Friction

By consolidating all materials into one platform, Two Small Fish eliminated the version control errors and broken links that plagued their previous workflow. The team no longer worries about one LP receiving an outdated deck while another sees the current version.

Stronger LP Relationships

The professional, organized presentation has changed the tone of LP conversations. Prospects consistently comment on the quality of the experience, creating positive first impressions that accelerate relationship-building. As Lau described it, Vessel helps LPs "get that mutual connection very early on and very quickly."

Scalable Foundation for Growth

With a platform that grows alongside the firm, Two Small Fish is now positioned to expand its institutional LP base without proportionally increasing the operational burden on its team — a critical advantage as the firm continues to scale.

Impact

For Two Small Fish, Vessel represents something larger than a technology upgrade — it's an alignment of how the firm operates internally with how it presents itself externally.

Lau's journey from operator-entrepreneur to venture investor has always been guided by a principle she instills in her portfolio companies: know your customer and deliver what they need. With Vessel, she finally applied that same discipline to her own fundraising process. "One of the mistakes that I've done in the beginning, without the help of Vessel, is I looked at my constraint — this is what I can do, so let me just kind of present it," Lau reflected. "But in the end, it's really about knowing what they are looking for, being able to present yourself professionally so that they get that mutual connection very early on."

The platform has become a cornerstone of Two Small Fish's LP engagement strategy, enabling the firm to maintain continuous, professional communication with prospects and existing investors alike. Lau sees Vessel as an investment that every GP should make, describing it as something that "makes LP relationship a lot cleaner" — and she's eager to see how the platform evolves to support even broader fund management needs.

For a firm built by engineers and operators who helped create one of the world's most iconic internet platforms, having fundraising infrastructure that matches their standard of excellence isn't optional — it's foundational. With Vessel, Two Small Fish has found the partner to deliver exactly that.

Key Metrics

Closing Quote

"It's an investment that I think all GPs should make, honestly, because it's just so easy. It makes LP relationship a lot cleaner. Vessel has helped me at the presentation side of it, at the organizational side of it, and the professionalism side of it." — Eva Lau, Founder & Managing Partner, Two Small Fish Ventures

Two Small Fish Ventures is a Toronto-based early-stage deep tech venture firm backing the next generation of world-transforming technology companies.