Oct 24, 2018 at 08:18
Oct 24, 2018 at 08:18 UTC
San Mateo Incubator Finally Fulfilled A 4 Year Crypto Funding Pledge
Since Co-Founders Brayton Williams and Adam Draper boldly announced that they would invest in 100 bitcoin startups over the next 3 years, the San Mateo incubator has finally fulfilled a funding pledge that was made all the way back in March 2014.
Although it may have taken a little longer than it was actually planned, yet the milestone is probably a testament to the pre-seed fund. It has maintained a significant emphasis on crypto since it was in its infancy, riding the turns and twists of an industry which has greatly changed in just a few years.
And it is indicated in the numbers. Boost VC, depending on how the deals get counted, says that it has made a bit over 100 crypto investments so far. Some of its companies have turned away from crypto over the time so that Draper doesn’t have to count those toward the total, whether Boost initially wrote its check with the technology in mind or not.
However, Draper told in an interview that there’s no change in the philosophy of the fund.
He said, “It has always been about building the open financial system of the world.”
But some pivots aren’t a bearish reflector – That’s the public course of investing. The crypto portfolio has dependably been a powerful net positive for Draper.
He said, “In 2017, we started to feel the potential of what this could be, and now that potential is actually being built.”
He recognized that the zeal has dwindled amongst his peers in the community, but Boost VC has been through this earlier. He claimed, “We will be writing more checks because that’s my favourite time.”
And in spite of hitting its goal, Boost VC hasn’t given up finding crypto deals.
Currently, it wants applications for its incubator, that is just one part of its bigger investing venture. Applications are now open for “Tribe 12” through the finish of October.