451 Group: VC funding for open source up 38% in Q1

Summary:Good news from the 451 Group to startups and cash strapped incumbents: venture capital funding for open source vendors grew almost 40 percent to $89 million in the first quarter of 2010.The exact figure is 37.

Good news from the 451 Group to startups and cash strapped incumbents: venture capital funding for open source vendors grew almost 40 percent to $89 million in the first quarter of 2010.

The exact figure is 37.9 percent.

That's a complete turnaround from last year, when funding declined overall by about the same amount -- 37 percent, the 451 Group blog also announced today.

The jump will likely be a topic of much discussion at a host of open source conferences taking place this week, including Oracle's MySQL Conference, the Open Source Think Tank 2010 and

Topics: Open Source

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Paula Rooney has covered the software and technology industry for more than 20 years, starting with semiconductor design and mini-computer systems at EDN News and later focused on PC software companies including Microsoft, Lotus, Oracle, Red Hat, Novell and other open source and commercial software companies for CRN and PCWeek. She receiv... Full Bio

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