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

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