The WSJ had an article yesterday on how venture capital funding is going more and more to consumer technology companies rather than business technology companies. The stimulus is clear: More and more people are online everyday and everyone is spending more time online, so the consumer market opportunities continue to get larger. Also, several consumer technologies companies, notably Facebook, Zynga, Twitter, and Groupon, have sparked the imaginations of entrepreneurs and venture capitalists.
That said, OpenView Venture Partners, which has a strong specialty in business technology companies at the expansion stage, continues to see great opportunities for business innovation and the market for business technology continues to grow nicely. Information week, for example, reports that the enterprise software spend was up 8.5% in 2010 and even larger companies like VMWare are reporting great growth (VMWare reported 41% growth last year).
If you are looking for expansion capital and are focused on business technology, take a look at OpenView Venture Partners. We have been and continue to be a believer in business technology and have a great group of people in OpenView Labs who offer operational and strategic assistance to the companies we invest in.
Sorry for the advertisement. After reading the WSJ article, I can’t help but point out that there are VCs that continue to believe in business technology even with this dramatic shift in capital going toward consumer technologies…