Slipping Rick a Little Tungle

Last night I loafed around and watched American Idol. In other words, I was seed investing. There's no difference between what I did and what many self-styled seed investors are doing in Canada.

In my view, if you haven't made any seed stage investments in the last 12 months, you lose the right to market yourself as a seed investor. You're just seed. (Seed that your LPs are paying management fees to so you can ride out the market.) And you're wasting my clients' time taking meetings, when they they could be talking to the handful of active investors and angels in the industry. Ever watch a seed grow? Not a good use of time.

Thank goodness Rick Segal and his team at JLA Ventures have provided some reason for optimism, announcing this week a seed investment in Tungle, a Montreal based startup founded by some of the former team from Nimcat Networks. Kudos to JLA and Pierre Donaldson for stepping up in a seed round that includes Desjardins and a prominent US angel investor. Tungle has the perfect tool for managing special project teams...like the ones assembled to close an investment, for example. I'm just saying.