A bitcoin syndicate cracked AngelList's top 10 for the first time on 21st February, just one month after it was initially formed.Created by bitcoin venture capitalist Brock Pierce, who founded ExpressCoin, GoCoin, KnCMiner and Robocoin Asia, the syndicate now ranks eighth in terms of its total monetary backing, with $501,250 from 23 backers.Syndicate backers include BitAngels Fund managing director David Johnston, SilkRoad Equity co-founder Matthew Roszak and 500 Startups venture partner Sean Percival and SIM managing partner W Bradford Stephens.The syndicate will support 12 bitcoin-related startups this year, with an average of $50,000 being awarded to each company.Companies must contribute to digital currency in order to be eligible for the funds.Angels can join the syndicate with a minimum investment of $5,000.The announcement comes amid increasing investor activity in the virtual currency space.Notably, SecondMarket's Bitcoin Investment Trust recently passed 80,000 BTC in holdings, while Cameron and Tyler Winklevoss just this week submitted a revised filing for a public bitcoin ETF.

AngelList allows any angel investor or fund to form a syndicate, and for backers to then invest alongside them so that they can collaborate on future deals.As explained by AngelList, "backers get access to dealflow, leads get carry and startups get access to capital".Backers pay 5-20% carry per deal to the syndicate lead, and 5% to AngelList for facilitating the deals.Investors are first screened through a verification process, and a special purpose vehicle LLC is created for each investment.Due to US Securities and Exchange Commission (SEC) regulations, only 99 investors can participate in the syndicate, meaning that Pierce's fund has already reached one-quarter of its maximum capacity.In addition to Pierce, the syndicate includes a noted cast of virtual currency investors.For example, Percival is an advisor for San Francisco-based wallet provider Blockchain.info.For more information on the fund, you can find its full AngelList page here.Image credit: Investment image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

Director, Product Management - Revenue @.Investor in @, @, and others via @ Matt Thazhmon Investor in @, @, @.Team member of @.Ben Davenport Co-founder & CTO at @.Running Bitcoin syndicate on AngelList.In the latest sign that investors remain bullish on bitcoin, a digital currency-focused AngelList investment syndicate has topped more than $1m in backing from its pool of investors.The syndicate, led by Bitcoin Foundation board member and bitcoin investor Brock Pierce, is now the eighth most popular syndicate on the platform by total investor backing.The syndicate entered the top 10 in February, and also includes other big-name investors in the bitcoin space such as SilkRoad Equity co-founder Matthew Roszak and 500 Startups partner Sean Percival.Speaking to CoinDesk, Pierce said that while he is pleased overall with the syndicate's overall performance, it likely won't hit its original goal of investing in 12 bitcoin startups in 2014.He said that, despite rising interest, his syndicate is currently struggling to find the right deals.

"You have to find the good deals, you have to be able to get into the good deals and you have to be able to get the allocation for those good deals through crowdfunding channels.Those are obviously three big hurdles and when you get to that third rung, the bar is obviously relatively high."ethereum data fieldPierce further revealed that the syndicate is close to finalizing its second investment so far this year, and that the formal announcement of the funding is forthcoming.black hat bitcoin miningLaunched toward the end of 2013, AngelList's syndicate allows angel investors to raise capital for projects while earning on the performance of each deal.get free-bitcoin pagaAngelList, founded by Naval Ravikant and Babak Nivi, provides a number of services to US startups and angel investors.kurs bitcoin indonesia

Since February, the number of investors engaged in the AngelList startup has also been on the rise.Today, the syndicate has 78 accredited backers, compared to just 23 in February.Investors can join the group with a minimum investment of $5,000.Pierce credited the popularity of the group to his notoriety in the space and past investments, which have included BitFury, ChangeTip and GoCoin, saying: "I'm obviously a very active investor in the bitcoin space, and a bunch of people said 'Hey, I'd like the ability to participate in the deal flow'.bitcoin igreSo, people have been signing up."bitcoin miner for xpHe further noted the similarities between the crowdfunding and bitcoin communities, saying that both groups are attempting to make finance more inclusive.litecoin gainDue to the distributed nature of the AngelList platform and the syndicate, Pierce estimates he has only spoken to about two-thirds of the involved investors, though he knows one-third from their more active involvement in the bitcoin community.bitcoin central suisse

However, he framed this fact as proof of crowdfunding's power and its ability to help further bitcoin's larger goals.[...] I think that everything happening in the world of crowdfunding is incredibly interesting and incredibly disruptive and it's going to turbocharge innovation."bitcoin-qt wallet backupScott and Cyan Banister Seed investors; Founder @ @; Board Member @ @ Andy Chung Europe @, Co-founder @, Team member of @.Team member @ Sundeep Ahuja 25 Syndicates incl @ @; CoFndr @; helped launch @; Investor @ @; Advisor @ @; BS CS Stanford Matt D Founder: iMega $8M EBIT 3yrs Adtech.@ Angels helping great teams grow.Systems & Bio Hacker Fred Tanada @flight-ventures • @.Singularity U @  • Working on Self-Driving Vehicles Michael Terpin Bitcoin investor/mentor/speaker.Co-founder, BItAngels, Bitcoin Syndicate.Founded @, @, @TransformPR, @, @StartupDebut.