BitAngels Grows Network, Funds First Deal

BitAngels, the new angel investment group which has both a physical location and its roots here in Austin, has just funded its first deal, and has grown out its network of angels to more than 120 people, with more than $17.7M in capital committed to investments. The angel group is focused exclusively on investing in startups working on Bitcoin, the electronic currency which is not governed by any country and has recently gained mainstream interest. BitAngels' first investment is BlueSeed, a firm incubating international companies out of U.S. jurisdiction; the angel group said that four of its members invested $25,000 each in BlueSeed. Two of BitAngels founders are based in Austin, David A. Johnston and Sam Onat Yilmaz.