Boost VC fulfilled a pledge it made 3 1/2 years ago, officially investing in its 100th crypto startup Tuesday. The San Mateo incubator, founded by Adam Draper and Brayton Williams, committed to accelerating 100 startups in the space back in March 2014. "We are actually, over the next three years, going to be accelerating 200 companies. And 100 of those are going to be bitcoin companies. That's our big stake in the ground," Draper said. The 100 crypto companies backed explicitly does not include startups that subsequently pivoted out of crypto.
Of the companies Boost has worked with, 45% have secured additional funding and 25% have shut down. In addition, Boost VC has seen five exits in the sector. The firm says it is now looking for startups with "the craziest, most impassioned people building magic," Draper added. (Source: CoinDesk)
Disclosure: Boost VC is an investor in The Block.