Year One Labs is the early stage seed accelerator that I started with three Montreal-based entrepreneurs – Raymond Luk, Alistair Croll and Ian Rae. We announced Year One Labs in early September. Since then we’ve been busy recruiting the best people we can find to join. It’s quite the experience, and something I hope to spend more time writing about on this blog in the near future.
After a couple of months, Year One Labs has made its first investment. The company is called Endloop X, but really it’s an investment in two amazing guys, Ken and Garry Seto. You can read more about it on the Year One Labs blog.
Ken and Garry are hardcore entrepreneurs. They’ve been building a successful and growing mobile development company, Endloop Studios, for a couple of years and kicking ass. Now they’re expanding their horizons (as Endloop Studios continues to grow) by coming into Year One Labs in Montreal to build a big time product company. There isn’t much for us to publicly announce about Endloop X, except that it’s in the social gaming space.
I recently wrote about whether investors invest in ideas, people or markets. I can say quite clearly in this case that we invested in the people. Granted, the ideas behind Endloop X are exciting. But those ideas are going to change many times over – from our whiteboard brainstorming sessions today, to the MVP launch, to product-market fit, and eventually (hopefully!) scaling. The entrepreneurs though … they remain the same. And for me, it’s almost impossible (if not completely impossible) to go through the insane amount of effort required to pull off a startup like Endloop X without top-notch guys.
So Year One Labs has made its first investment – and we’re thrilled to have Garry and Ken on board. Now the real work begins.