Ask A VC: AngelPad's Thomas Korte On NYC Expansion, The Incubator's New $7M Funding Round And More

In this week's special episode of Ask A VC from Disrupt Europe in Berlin, Germany, AngelPad founder and former Googler Thomas Korte talked to TechCrunch about his incubator's strategy, expansion and more.

Korte, who launched AngelPad in 2010 with six other ex-Google employees, explained why he's kept the incubator small, with only around 10-12 startups per session (with two sessions per year). Korte also told us that AngelPad is heading east for its next session, debuting a new session in New York City (interested founders can apply here, and the deadline is Sunday).

While AngelPad was bootstrapped for the past three years with the backing of its founders, Korte also revealed that AngelPad just raised $7 million in outside investment from undisclosed LPs.

As of January of this year, AngelPad had seen 62 companies participate in five sessions. In 2012 alone, AngelPad's 62 total companies raised $56 million, which is on top of the $25 million they had raised in 2011. The incubator has also seen some impressive exits from portfolio startups, including Twitter's recent $350 million acquisition of MoPub.

Tune in above for more!