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Open source "inside" a VC bonanza

CAMBRIDGE, Mass. -- Open source isn't just about companies like Red Hat and MySQL. Michael Moritz, a partner with the venture capital firm Sequoia Capital, says open source code is also buried deep inside of a growing number of devices.

"The thing that people don't recognize is that we have lots of investments in open source companies. Look through our portfolio, and look inside of appliances, and a ton of open source software is being put inside of those devices and computers of one type or another," he said.

Maritz, a former journalist turned VC, made his comments at Technology Review's Emerging Technologies Conference on Thursday.

"Open source is part and parcel to things we have invested in over the last few years, both through standalone products and integrated into business models of companies," he said.

One particular hotbed: Asia. "Open source is fueling a lot of stuff there," Maritz said.