A panel of investors at the OpenStack Summit in Paris explain what they’re looking for and why security is ripe for investment.
PARIS—Over the course of the past year, there have been hundreds of millions of dollars in OpenStack-related funding and acquisition activities. In a panel at the OpenStack Summit here, some of the top venture capitalists detailed what they’re investing in and what they want to see.
While OpenStack itself is open-source software, there are a lot of opportunities from which companies and their investors can profit. Among the big deals recently completed, Red Hat acquired OpenStack vendor eNovance in June for $95 million, Cisco acquired Metacloud and Mirantis raised $100 million in funding.
David Lam, managing director at West Summit Capital, helped lead Mirantis’ $100 million funding round and told the OpenStack audience that he’s very optimistic about the firm’s prospects. In particular, Lam said the new funding is helping Mirantis grow in China.
“We invest in China and try to connect our companies with the Chinese market, where we see huge demand for alternatives to incumbent vendors,” Lam said.