Black Flag

How to contact Black Flag
Best way to get in touch
Virtual accelerator offering $250k–$1M as the first check, with direct DARPA and defense-buyer access and a single application reviewed by three specialized defense investors.
Stages they invest in
N/A
Avg Check size
$100k - $1M
N/A
Can They Lead?
Yes
N/A
Location
San Diego
N/A
Geographies They Invest in
USA
N/A
Black Flag
Stages
N/A
Sectors
Defense
Deeptech / Hardware
Energy
Climate
Cybersecurity
Materials
AI
Chips
Biotech
Robotics
N/A
Avg Check
$100k - $1M
N/A
Leads?
Yes
N/A
Close X
Industries
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Info out of date? Let us know

What Makes them Unique

Black Flag is a virtual accelerator that gives founders building critical technologies for national security $250k-$1M investments plus direct access to government buyers like DARPA and defense networks, positioning itself as "the first check in" rather than typical tech investing. When founders apply to Black Flag, their application is simultaneously reviewed by three specialized defense investors (Black Flag, Shield Capital, and In-Q-Tel) through a single submission, while the program's "no surrender" pirate-themed culture attracts founders comfortable tying their companies to U.S. national security missions.

Video Interview

On creating urgency and being "desirable" as a founder

"Let's be honest. Early stage venture is the hot girl thing, right? It's all about how do you be the hot girl at school? There's no art. It's more of an art than a science, but you want to make yourself desirable. There's urgency, there's scarcity. So how do you create urgency? You have a lot of people interested in you."

Andrew Couillard | Black Flag

On the probability-weighted fundraising strategy

"You say, all right, this firm average check size, two and a half million times point seven. And you do that for every single firm... And whenever you get to 300% of your target fundraise, then you start the fundraise and then you go down to your high conviction list. That 70%, you call them and say, hey, remember that talk we had two months ago? I'm raising, are you in?"

Andrew Couillard | Black Flag

On the fine line between persistence and desperation

"If you're constantly blowing up a VC asking for followups nearly every day on your application, it looks desperate. What's so interesting and compelling is when you're persistent and you're actually adding value every time you do a follow up."

Andrew Couillard | Black Flag

On founders leaning too heavily on stats instead of story

"Stats should add to your story. They shouldn't be the basis of your story. If you were describing a problem in numbers and things that you can get on Perplexity or Claude, it's really uncompelling. A lot of founders miss the forest for the trees and they don't zoom out at the holistic big picture of like, what's the story? What's the narrative?"

Andrew Couillard | Black Flag

On the biggest mistake founders make after closing a round

"We've seen so many founders, they raise the money, they get it in the bank, they freak out because they've never had that many millions in a bank account and they still eat ramen, sleep on a cot, and they refuse to hire the best people because they're trying to maintain their cash burn. It's like no, we're doing this to accelerate your business. Use the money."

Andrew Couillard | Black Flag

Press & Media

No items found.
Is this information out of date? Let us know

Popular fUNDS

Fund name
Active in
Rounds
Avg. Check
Links
Or automatically find your investor matches
Upload your pitch deck to get your best investor matches in minutes.
Reveal the very best VCs to pitch for your startup
Get matching investors' email addresses
No ads. No catch. Free from VC Sheet.
Must be a valid email  to receive results
Upload and Submit Deck (50MB Max)
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Success. Check your email in 5 minutes.
Browse Sheets
Sheet Type
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Browse
Sheets

Sheets are curated lists of funds and investors for various sectors, stages and geographies.

Sector-focused sheets

Stages-focused sheets

Geography-focused sheets

Misc sheets

No results match these filters...