Startup incubator BitAngels announced today that it has invested somewhere on the order of $7 million (close to 7,000 BTC) in bitcoin-related start-up businesses since May of 2013.
BitAngels has invested the funds into about 12 companies, of which include mining hardware manufacturer CoinTerra, instant bitcoin exchanger Cash Into Coins, and GoCoin.
“It has been an incredible time for Bitcoin since the May 2013 Bitcoins show in San Jose, and it has been an even more incredible one for BitAngels,” said David A. Johnston, who serves as Executive Director of the incubator. “Like the digital currency itself, BitAngels had small beginnings, but also like the digital currency, we continue to expect that we’ll head straight to the moon, which might be the one place where BitAngels doesn’t have a presence right now.”
BitAngels is comprised of about 324 angels in over 23 countries, with a whopping $50 million pledged to help fund bitcoin startups. But the angels want to push the envelope.
“We’re continuing to aggressively pursue both new angels and new investment opportunities wherever they might be,” says BitAngels co-founder Michael Terpin. “Bitcoin continues to be a space that is growing constantly, with new ways in which it is touching our day-to-day lives, and BitAngels is going to be an integral part of that continuing development.” (PRESS RELEASE)