Quansight Launches an Early-Stage Fund for Open Source Tech

Want to share this story?

Quansight Futures announced it has launched an new early-stage  investment fund, Quansight Initiate.

The Austin, Texas based fund will invest in startups that leverage open-source tech that are active in education, internet of things (IOT), data-management, data-science, machine learning and artificial intelligence. The fund plans to have $20 million in the bank and will be fully funded over the next 9 months.

“In line with Quansight’s vision of strengthening the open-source ecosystem, Quansight Initiate will invest in companies that use open-source technologies as the core of their products or services,” said Quansight Futures CEO and co-founder Travis Oliphant, in a statement announcing the fund.  “We believe entrepreneurs who make use of the immense value available in open-source technologies will have an advantage over those who rely on proprietary solutions.”

Managing the fund will be Bradden Blair, a former Professor of Operations and Information Systems, and former Director of the MS in Information Systems and MS in Business Analytics programs at the University of Utah.

Quansight hopes the new fund contributes to Austin’s growing tech scene.

“It is no secret that Austin is one of the fastest growing high-tech economies in the nation,” added Blair. “The rapid pace of expansion in Austin is fueling innovation and demand for early-stage investment capital and represents an excellent opportunity for our fund.  Our team brings a unique perspective to the Austin market.  Many years of prior experience helping companies leverage the power of enterprise-grade open-source technology and communities will help us to successfully tap into Austin’s booming entrepreneurial community.”