Friday, May 20, 2005

Gluecode Founder Creates Investment Firm

Winston Damarillo, the founder of Gluecode, has founded Simula Labs, an investment firm which will focus on open source software. According to News.com, Simula has committments from Redpoint Ventures and Mission Ventures to put $10 to $15M in six to eight startups over the next three years. Gluecode was purchased by IBM earlier this month. Simula has created a company called LogicBlaze to commercialize the open source project ActiveMQ.

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