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VC Firm Sequoia Capital Begins Funding More Open Source Fellowships
By 2022 the VC firm Sequoia Capital had about $85 billion in assets under management, according to Wikipedia. Its successful investments include Google, Apple, PayPal, Zoom, and Nvidia. And now the VC firm "plans to fund up to three open source software developers annually," according to TechCrun...
The Silicon Valley venture capital firm announced the Sequoia Open Source Fellowship last May, but it was initially offered on an invite-only basis with a single recipient to shout about so far. And this is why Sequoia is making two distinct financial commitments to two different kinds of open source entities, using grants to support foundational projects that might be instrumental to one of the companies it's taking a direct equity stake in. Funding will include living expenses paid through monthly installments lasting up to a year, allowing the developer to focus entirely on the project without worrying about how to put food on the table.
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