# Black Flag: portfolio, investments and team

> Black Flag is an accelerator. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/black-flag (Millionrounds; every figure on the page links to its filing or article)

[Investor](https://millionrounds.com/investors)

# Black Flag

No observed cheques in the sources we track. That is a limit of our coverage, not a finding about this organisation.

Email

Accelerator Unknown New fund $950K, Dec 2025

Pre-seed Seed AI Aerospace Biology

Follow Black Flag and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fblack-flag)

Cheques on record

**No rounds observed yet** A limit of the sources we read, not a finding about the firm.

Cheque size, as they say **$250K – $5.0M**

Pitch Black Flag

## What they do

> Black Flag is a virtual, personalized program that provides capital and hands-on support tailored to founders building the future of aerospace, biology, energy, robotics and more. From their own website

- **Type:** Accelerator
- **Cheque size:** $250K – $5.0M as they say
- **Stages:** Pre-seed Seed
- **Sectors:** AI Aerospace Biology
- **Cold pitches:** Accepted

## The record

No rounds observed yet. That is a limit of the sources we read, not a finding about the firm. If it has invested, a round will put it here. [Know a round it was in? Tell us](https://millionrounds.com/corrections?slug=black-flag).

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **1 named**

LA **Larsen Alan Jensen** Managing Director i Form ADV

We also hold **1** person at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$604M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Harpoon Management, LLC
- **SEC number:** CRD 305129

## What they claim to have backed

From their own portfolio page (on their website)

**10** of 20 we have independently watched raise

[Anthropic](https://millionrounds.com/company/anthropic)[Dauntless](https://millionrounds.com/company/dauntless)[Deck](https://millionrounds.com/company/deck)[Energy](https://millionrounds.com/company/energy)[EraDrive Autonomy-as-a-Service for](https://millionrounds.com/company/eradrive)[Harpoon](https://millionrounds.com/company/harpoon)[Palantir](https://millionrounds.com/company/palantir)[Rho](https://millionrounds.com/company/rho)[Secondfront](https://millionrounds.com/company/second-front)[Super Powers Mobility](https://millionrounds.com/company/super-powers-mobility) Airforce Darpa Defense Iqt Marines Nrl Shieldcap Siftstack Tectonic Labs Quantum-era Type III American-made

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$950K**

raised in Dec 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

**Pitching Black Flag?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Quick answers about Black Flag

### What does Black Flag invest in?

Black Flag says it invests in AI, Aerospace and Biology.

### How big are Black Flag's cheques?

It says it writes cheques of $250K to $5.0M.

### Is Black Flag investing now?

No investments in the last 12 months.

### What kind of investor is Black Flag?

Black Flag is an accelerator.

### How much does Black Flag manage?

About $604M, as gross assets of its private funds (Oct 2026).

### Has Black Flag raised a new fund?

Its latest fund filing with the SEC was in Dec 2025, reporting $950K raised.

### Does Black Flag take cold pitches?

Yes: its own website says it reads unsolicited pitches.

### Where does this information on Black Flag come from?

From public registers and its own website, checked and rebuilt every night.

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=black-flag) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=black-flag)