Boost VC, the San Mateo, CA-based three month accelerator founded and managed by Adam Draper and Brayton Williams, launched the Boost Bitcoin Fund.
Announced by Draper in a post (read here), the fund aims to back Bitcoin companies that graduate from the Boost accelerator program by providing them with a $50k investment after completing the program in September, in addition to the $15k invested by Boost VC.
Draper said that the idea for the new fund came up 3 months ago when they decided to accept 5-7 Bitcoin companies into their summer session. One fourth of it will be invested as Bitcoin into the startup companies.
The Boost Bitcoin Fund is anchored by Lightspeed Venture Partners, Rothenberg Ventures, The Bitcoin Opportunity Fund and Ben Davenport.