I'm diversifying into all of the next gen crypto asset projects which look promising with evidence of a solid team, adequate funding, and evidence of progress on the underlying technology. So far this list includes Mastercoin, Invictus, eMunie, and Ethereum.
MC2, colored coins, and Open Transactions are also very promising, but not directly invest-able. Monetas, an extension of Open Transactions into mobile, is seeking investment.
XCP looks interesting with a client in alpha, but I'm having a hard time wrapping my head around proof of burn of BTC to determine distribution of the premine - seems wasteful of funds which could go to development. Over 800 BTC has been burned already (over $600,000).
I'd be interested in hearing of any other projects along these lines (except NXT - NOT interested).