The industry’s first angel network for digital currency startups, BitAngels, is launching a series of virtual pitch events to keep investors connected during the global coronavirus pandemic.
On March 25, BitAngels founder Michael Terpin said the network’s transition to a fully-online model of collaborations and events aims to keep the blockchain investment community “active and thriving” through uncertain times.
(Locked)down but not out
While the lockdown across many of the world’s major economies may be unprecedented, Terpin wrote that the model, in some sense, returns the network to “its roots as a virtual network founded in 2013.”
Before the pandemic outbreak, BitAngels had evolved to operate both online and via in-person events hosted by a global network of city leaders across its 15 global “chapters.”
For each event, the network’s city leaders select a small number of blockchain start-ups to pitch their projects to investors, as well as hosting keynotes and discussions on industry trends. This model has reportedly helped dozens of initiatives secure funding from BitAngels members over the past seven years.
In response to the public health crisis, virtual pitch events will now be run by HQ and individual chapters across cities — including New York, Los Angeles, San Francisco, Toronto, and Brussels — starting from April 9. All network members will have access to recordings of each meeting.
As previously reported, both Michael Terpin and his BitAngels co-founder David Johnston have been in the industry since the early 2010s. The latter went on to found a DApps Fund in 2014 and, more recently, YCG, a venture studio that builds blockchain applications for enterprise.
Alongside BitAngels, Terpin is the founder and CEO of Transform Group — a blockchain advisory and events firm that has reportedly worked with over 30% of CoinMarketCap’s 100 companies and foundations. He is also the founder of the business newswire Marketwire.
In May 2019, Terpin won $75.8 million in a civil case against Nichola Truglia, who had defrauded him of his crypto assets.