A multi-city angel investor network called BitAngels is opening offices in Austin with the hope of mentoring and investing in Bitcoin oriented startups. Bitcoin is a digital currency that has been billed by many as the future of online payments, and it’s making significant inroads as an alternative payment system. BitAngels is backed by a $6.7 million fund, and is looking to invest in Bitcoin oriented startups with $20,000 investments.
BitAngels will provide mentoring services and help with the marketing and launching of prospective Bitcoin businesses. The Austin office of BitAngels will be based out of Tech Ranch Austin, a local business incubator. BitAngels is led by David Johnston, a local Austin entrepreneur who founded Engine.co and General Governance Inc.
Read more about BitAngels here.