OCV actively conducts research on open source software projects and recruits founders to join our companies. As a general screening criteria, we would only consider projects with a minimum of 20 monthly MR/PRs or 5,000 stars on GitHub. See detailed research process at:

Research processes

Once a founder provides verbal acceptance of our offer, follow the process outlined below to draft and send out an indicative offer letter via DocuSign:

Founder Offer Letter

OCV moves to company formation process below after signed founder offer letter is received. Steps 1 and 2 may be discussed as part of the verbal acceptance process.

Incorporation Process Overview

Step 1: Choose the company name

Step 2: Choose a legal entity structure

Step 3: File incorporation paperwork

Step 4: Issue equity to founders and advisors

Step 5: Establish the company’s options pool

Step 6: Banking systems set up

Step 7: Fund the business

Step 8: Systems setup

Overtime, company structure will evolve following each round of new venture funding as in example below:

Company Structure Over Time