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Open Core Ventures
Open Core Ventures (OCV) is a venture capital firm that starts commercial open source software companies. Our team identifies open source software projects...
Open Core Ventures
Open Core Ventures (OCV) is a venture capital firm that starts commercial open source software companies. Our team identifies open source software projects with traction, recruits passionate project founders and contributors, and launches new companies. OCV companies aim to create tangible value for the open source community by providing access to resources and reducing the barrier to entrepreneurship. OCV believes in the power of open core, and the impact of open learning and collaboration. Our approach diverges from conventional venture capital because OCV starts companies and recruits founders; OCV does not invest in existing companies. The OCV model enables experienced, capable, and technical founders who otherwise would not have the resources to launch a successful startup. OCV does not make investments in existing open core companies.
General information
Firm type
Venture Capital
Year founded
2020
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Principals
Sid Sijbrandij
Team Member
Rich Aberman
Team Member
Chris Hubbell
Team Member
Maxine Ow
Team Member
Alex Smith
Team Member
Mark Wasuwanich
Team Member
Erica Lindberg
Team Member
William Xu
Team Member
Lainy Thomas
Team Member
Jamie Lynn Lufrano
Team Member
Sector focus
Frequently asked questions
How does Open Core Ventures source its deal flow?
OCV does not accept applications from founders in the traditional sense. The firm proactively identifies open source projects that have demonstrated significant community traction but lack a clear path to commercialization. It then internally evaluates whether the project could support an open core company before recruiting a CEO and CTO to lead the new entity.
Does Open Core Ventures operate more like a venture capital firm or a startup studio?
The firm operates closer to a startup studio than a traditional venture capital fund. OCV originates the company concept, builds the founding team, incorporates the new entity, and provides the initial $2M seed check along with sustained operational support. Traditional VCs evaluate existing teams; OCV assembles them.
Who runs the firm and makes the decision to form a new company?
The firm's website lists a ten-person team that includes Sid Sijbrandij and Rich Aberman, though it does not identify a CEO or managing partner title for OCV itself. Sid Sijbrandij's parallel role as CEO of GitLab suggests he is central to the firm's strategic direction and project selection, given the open source network that comes with that position.
What does Open Core Ventures look for in an open source project?
The firm looks for traction, typically evidenced by a strong community of users and contributors. The exact metrics are not disclosed, but the underlying thesis is that these projects have already validated a need and attracted an audience — the missing piece is a commercial wrapper and a dedicated founding team to build and sell a paid product on top of the open source core.
Does the firm take board seats or provide ongoing operational support?
OCV provides sustained operational and strategic support after incorporation and funding. Its team works alongside the recruited founding team as the company builds commercial traction, though the specific governance structure — such as board composition — is not detailed publicly. The engagement is designed to last until the company can raise an external venture round.
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