Spot Runner, the Index Ventures and Battery Ventures portfolio company that makes it easy for small businesses to run television ads, isn't waiting to go public before launching a corporate venture capital program. It isn't even waiting for its second round of funding.

The Los Angeles-based startup participated in the $3.5 million first round of funding for 60Frames, a startup that will help online content producers with financing, ad sales and syndication. The company was incubated by Hollywood talent agency UTA and Spot Runner.

Spot Runner's participation in the establishment of 60Frames explains its participation in the startups' funding round, which was led by Tudor Investment Corporation and the Pilot Group, whose founder, Robert Pittman, sits on the board of Spot Runner. I doubt Spot Runner will make another venture investment. At least until it completes its second round of funding.

For more on 60Frames' fundraising, see:
paidContent
New York Times

Tags: spot+runner, 60frames, index+ventures, vc, venture+capital