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Open Core Ventures (OCV) is a venture studio founded by Sid Sijbrandij, the CEO of GitLab, with a mission to enable individuals to become founders of open core companies. Established to support the growth of open source software, OCV identifies promising open source projects and recruits founders to launch new ventures. The organization provides initial funding of $2 million per company, along with operational and strategic support until the company secures a seed round. OCV does not invest in existing companies, focusing solely on creating new ventures from the ground up.
Currently, OCV has facilitated the launch of over 30 companies, all of which are centered around the development of commercial software based on open source projects. The organization operates globally, with a specific emphasis on the Software as a Service (SaaS) sector. Notable milestones include the successful funding of portfolio companies that have collectively raised over $40 million in post-OCV funding, showcasing the effectiveness of their model in nurturing new startups.
OCV specializes in launching open core companies, which are businesses that develop commercial software based on open source projects. The organization targets open source contributors who may lack the resources to establish venture-scale businesses. OCV's investment strategy includes providing operational and strategic support along with initial funding of $2 million per company until they secure a seed round. This approach allows founders to concentrate on building their products and communities without immediate financial pressures.
OCV's focus on the SaaS sector aligns with the growing demand for software solutions that leverage open source technologies. The organization aims to create a sustainable ecosystem around open core technologies, supporting the growth of open source software and its communities. OCV looks for founders who are passionate about open source and have the potential to build scalable businesses around innovative projects.
Open Core Ventures has facilitated the launch of several notable companies, including:
Collectively, OCV companies have raised over $40 million in post-OCV funding, demonstrating the potential of their model. Additionally, OCV projects have achieved significant engagement, with over 10.1 million GitHub downloads and more than 240,000 GitHub stars across their projects, indicating a strong community interest and support for these ventures.
Sid Sijbrandij - General Partner: Sid is the CEO and co-founder of GitLab, bringing extensive experience in software development and open source initiatives.
Rich Aberman - General Partner: Rich has a background in launching and scaling technology companies, with a focus on operational excellence.
Betty Ma - Chief Operating Officer: Betty oversees the operational aspects of OCV, ensuring that portfolio companies receive the necessary support.
Alex Smith - Associate: Alex assists in evaluating new projects and supporting portfolio companies in their growth.
Erica Lindberg - Head of Content: Erica manages content strategy and communication for OCV, promoting the organization’s mission and portfolio.
William Xu - Finance Operations: William handles financial operations, ensuring that funding processes run smoothly for portfolio companies.
To pitch Open Core Ventures, founders should use the contact form available on their website. It is important to include a detailed overview of the open source project and the business model. OCV prefers pitches that demonstrate a clear understanding of the open source community and the potential for scalability.
Response times may vary, but founders can expect to hear back regarding their inquiries. Warm introductions are not required but can be beneficial in establishing credibility.
Open Core Ventures runs a program called Open Core Ventures, which focuses on enabling individuals to become founders of open core companies. This program provides initial funding and operational support to help launch new ventures based on promising open source projects.
Eligibility for the program includes being an open source contributor with a viable project idea. Interested individuals can apply through the contact form on the OCV website.
As of March 2026, Open Core Ventures has been actively facilitating the launch of new companies, highlighting several successful projects in its portfolio. Notable companies include RayAI, Selora Homes, and Mermaid Chart, which recently raised a $7.5 million seed round.
OCV companies have collectively raised over $40 million in post-OCV funding, showcasing the effectiveness of their model in nurturing new startups. The organization continues to emphasize its commitment to supporting the growth of open source software and its communities.
What are Open Core Ventures' investment criteria?
OCV focuses on launching new open core companies based on promising open source projects. They do not invest in existing companies, instead providing initial funding and support to new ventures.
How can I apply or pitch to Open Core Ventures?
Interested founders can reach out through the contact form on the OCV website. They should provide details about their open source project and their vision for the company.
What makes Open Core Ventures different from traditional venture capital firms?
OCV is a venture studio that creates companies from scratch around open source projects, providing operational and strategic support along with initial funding. This model differs from traditional VC firms that typically invest in existing companies.
What is the geographic scope of Open Core Ventures?
OCV operates globally, targeting open source contributors and projects from various regions.
What kind of post-investment involvement does Open Core Ventures have?
OCV provides ongoing operational and strategic support to its portfolio companies, helping them navigate the challenges of launching and scaling their businesses.
What is the typical check size for investments made by Open Core Ventures?
OCV provides initial funding of $2 million per company, which allows founders to focus on building their products without immediate financial pressures.
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