TechCrunch – Bitcoin Startup Network BitAngels

TechCrunch – Bitcoin Startup Network BitAngels:

TechCrunch’s Rip Empson (@RipEmp) shares the developments of the ten-day old Bitcoin-specific funding network BitAngels in his latest post.  Excerpts:

“BitAngels is launching (what it believes to be) the first multi-city angel network and incubator created to invest exclusively in cryptocurrency startups. Fittingly, in the spirit of Bitcoin, it’s a distributed network of angels and entrepreneurs and one that was hacked together in a few days after the Bitcoin 2013 Conference.”

“BitAngels brings together a posse of angel investors who are looking to help entrepreneurs turn their Bitcoin side projects into full-time jobs. To do that, the angel network pooled together about $6.7 million in Bitcoin, which it will invest in approximately $20K chunks.”

“The network is also today officially expanding to three on-site locations: Austin, San Francisco and New York […].  ”Angels will hold office hours in each of the network’s three locations and will provide as much as support and mentoring from its angels as it can, though much of that will likely be remote.”

“[BitAngels co-founder David A. Johnston] would like to see BitAngels become a ‘distributed version of Y Combinator.’”

“Both entrepreneurs and investors have begun to get serious about Bitcoin, and networks like BitAngels will ideally make it a lot easier to access the capital needed to finish [ideas and projects started by Bitcoin entrepreneurs]”

 – (Further discussion of the article)

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