500 Startups is organizing a platform, AngelList, to invest in 10 Bitcoin-related start-ups each year. According to Upstart Business Journal, this is the third AngelList syndicate that will focus on financial services and each start-up has the potential of receiving between $250,000 and $500,000.
“We are working on our first deal for 500 Women Syndicate and we are just getting ready to roll out our third syndicate, which will be focused around financial services and Bitcoin,” Founding Partner Dave McClure told Upstart.
The syndicate has already accepted five Bitcoin startups, and has brought on Bitcoin backer Sean Percival as a venture partner.
"I don’t know if we are even out of the gate just yet on Bitcoin,” McClure told Upstart. “It seems that there is a growing level of adoption, but it is really still quite early to know how it will turn out.”
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