Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
iFly.vc is a venture capital firm founded in September 2016, initially based in the San Francisco Bay Area and now located in Austin, Texas. The firm focuses on technology-enabled transformation across traditional industries, starting with commerce. iFly.vc aims to support entrepreneurs addressing unsolved problems in sectors that may appear unglamorous, leveraging a distinctive cross-border US/China perspective to identify unique opportunities.
The firm manages a fund size of $46 million and has a concentrated portfolio of 11 companies. iFly.vc's founding partner, Han Shen, previously worked as the first investment hire at Formation 8, a firm co-founded by Palantir's Joe Lonsdale. The firm has established a strong LP base, including notable figures such as Zhang Tao, Free Wu, and Joe Lonsdale, which enhances its deal flow and follow-on investment capabilities.
iFly.vc employs a thesis-driven investment strategy, concentrating on sectors where they possess expertise. The firm invests primarily in the United States, with a focus on commerce, consumer, and fintech sectors. Their investment stages range from Seed to Series A, allowing them to engage with startups at critical early phases. iFly.vc seeks to build a concentrated portfolio with fewer investments than the industry average, dedicating substantial resources to each entrepreneur.
The firm targets multicultural consumer markets, food & beverage, and fintech for underrepresented communities. iFly.vc's investment thesis emphasizes the intersection of technology and underserved traditional industries, focusing on sectors often overlooked but with significant potential for innovation and growth. This approach allows them to identify unique opportunities that may not be apparent to other investors.
iFly.vc's portfolio includes notable companies that reflect its focus on technology-enabled transformation in traditional industries. Key portfolio companies include:
Additionally, iFly.vc has been involved in notable exits, including Oculus, which was acquired by Facebook, and Comfy, acquired by Siemens.
Han Shen: Founding Partner. Han is the first investment hire at Formation 8, a venture capital firm co-founded by Joe Lonsdale of Palantir. He has extensive experience in both the US and China markets, providing a unique perspective on cross-border opportunities.
Martin Salomon: Chief of Staff. Martin plays a crucial role in supporting the firm's operations and strategic initiatives, ensuring that iFly.vc effectively manages its portfolio and engages with entrepreneurs.
To pitch to iFly.vc, founders should visit their website at ifly.vc. The firm prefers pitches that clearly outline the business model, market opportunity, and alignment with their investment thesis. A well-structured deck that includes key metrics and growth projections is essential.
Response times may vary, but founders should expect a thorough review process. Warm introductions are beneficial but not mandatory.
In July 2021, iFly.vc closed its second fund at $46 million, attracting notable LPs such as Zhang Tao, Free Wu, and Joe Lonsdale. This fund aims to continue the firm's focus on technology-enabled transformation in traditional industries.
iFly.vc has been involved in several successful exits, including Oculus, which was acquired by Facebook, and Comfy, acquired by Siemens. These exits highlight the firm's ability to identify and support high-potential companies in overlooked sectors.
What are iFly.vc's investment criteria?
iFly.vc invests in technology-enabled transformation across traditional industries, focusing on sectors such as commerce, consumer, and fintech. They prefer to engage with startups at the Seed and Series A stages, particularly those addressing unsolved problems in multicultural consumer markets and underrepresented communities.
How can I apply or pitch to iFly.vc?
Founders can pitch their ideas by visiting the iFly.vc website at ifly.vc. The firm encourages entrepreneurs to present their business models and how they align with iFly.vc's investment thesis.
What makes iFly.vc different from other venture capital firms?
iFly.vc distinguishes itself through its thesis-driven approach, focusing on sectors often overlooked by other investors. Their dual US/China perspective allows them to identify unique cross-border opportunities, providing a competitive edge in sourcing deals.
What is the typical check size for investments?
While specific check sizes are not disclosed, iFly.vc aims to build a concentrated portfolio, indicating that they dedicate substantial resources to each entrepreneur, which suggests larger-than-average investments compared to industry norms.
What is the firm's post-investment involvement like?
iFly.vc provides substantial resources and expertise to its portfolio companies, focusing on technology-enabled transformation. They actively support entrepreneurs in navigating challenges and scaling their businesses.
What is the firm's fund size and performance?
iFly.vc's current fund size is $46 million, and their first fund reportedly achieved a 10x return, indicating a strong track record of successful investments.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.