Boost VC Investment in Blockchain Startups Tops $50 Million

Pete Rizzo
Sep 30, 2015 at 20:01 UTC
Updated Oct 1, 2015 at 20:12 UTC
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Boost VC has released new figures about its investments in startups focusing on bitcoin and the blockchain.

The San Mateo incubator, which has pledged to invest in 100 industry startups through 2017, revealed in a Medium post this week that it has invested in 52 bitcoin and blockchain companies since its founding in 2012.

According to figures provided to CoinDesk by Boost, bitcoin and blockchain startups have so far raised $52 million, compared to the $86 million across companies in all of its target sectors.

The figures suggest bitcoin and blockchain startups have so far captured 60% of the accelerator’s total investments, with the average startup having raised $961,538.

The new data comes during a bid by Boost VC to attract a new class of startups to its program, and follows a shift in the incubator’s emphasis to focus on virtual reality firms. Based on figures it has released, Boost’s Tribe 6 includes just five bitcoin startups, compared to the 21 featured in its last 24-firm fund.

Boost VC CEO Adam Draper has recently been critical of developments in the industry, suggesting that early-stage industry startups may be suffering from a lack of vision, writing in a post earlier this year:

“We are looking for crazy ideas, we are looking for big ideas from fearless founders, we are looking to push the evolution of the next stage of bitcoin and the blockchain.”

Ideas image via Shutterstock