In this [A] Growth Ventures Podcast episode, Hamlet Azarian, the CEO and Founder of the Azarian Growth Agency, interviews Heather Meeker, a distinguished expert in open-source licensing and General Partner at OSS Capital.
Open source is no longer just a philosophy — it’s a thriving business model transforming the technology landscape.
In this episode of the [A] Growth Ventures Podcast, Hamlet Azarian speaks with Heather Meeker, a pioneering force in open source law, business models, and venture capital.
Heather is a General Partner at OSS Capital, the first and only institutional VC firm focused exclusively on commercial open source startups.
With a background as a technology transactions partner at O’Melveny & Myers LLP, and over a decade teaching at UC Berkeley School of Law, Heather brings unparalleled expertise at the intersection of tech, licensing, and entrepreneurship.
What We Explored with Heather Meeker
Understanding Open Source and Commercialization
Heather provides a clear explanation of open-source software and how commercial open source differs:
- Open source: Freely available software under licenses granting broad usage rights.
- Commercial open source: Building profitable businesses around open-source projects by offering services like quality control, support, and productization — without sacrificing transparency.
She highlights Red Hat as the quintessential success story, emphasizing how companies monetize through value-added services, not just the code itself.
OSS Capital’s Investment Thesis
OSS Capital is the only VC fund solely focused on commercial open-source startups. Heather outlines why:
- Unparalleled capital efficiency: Open source startups are lean, community-driven, and often achieve early traction with minimal capital.
- Product-led growth: Developer trust and organic adoption replace expensive sales-driven models.
- Foundational societal trends: Customers today demand transparency, control, and the ability to “try before they buy.”
What Heather Looks For in Startups
OSS Capital seeks:
- Active projects with visible traction (GitHub stars, community engagement)
- Founders who want to build companies, not just passion projects
- Original project creators leading the business (vs. external commercialization attempts)
She shares examples like cal.com (an open-source scheduling tool) and W4 Games (built around the Godot open-source gaming engine).
The Future of Open Source and Tech Law
Heather predicts:
- Open source will dominate application-layer software, not just infrastructure.
- Customers expect source code access as a basic requirement — open software wins trust.
- AI transparency will become critical, requiring clearer definitions of “open” for AI models (the “Open Weights” initiative is a first step).
- Blockchain remains a powerful technology despite setbacks from the crypto market crash.
Key Takeaways
01:00 — What open-source software is and why it matters
04:00 — Red Hat as a model for commercial open source success
06:00 — OSS Capital’s unique focus and investment advantages
10:00 — Heather’s journey: from coder to lawyer to open-source champion
14:00 — Why open source appeals to developers but sometimes scares business leaders
17:00 — The transformation of Microsoft and other companies embracing openness
21:00 — OSS Capital’s investment process and founder expectations
26:00 — The rise of open source at the application layer
30:00 — The lack of true open-source standards in AI (and why that’s a problem)
36:00 — Blockchain beyond crypto: why trustless verification still matters
38:00 — Heather’s new book, From Project to Profit — a practical handbook for open-source founders
Final Thoughts
Heather Meeker’s career has consistently been at the bleeding edge of tech and law, from early open source licensing debates to advising the next generation of startups.
Her message for founders is clear:
“Open source is the future of software. But to succeed commercially, you must move beyond passion — and into structured, scalable business building.”
If you’re a founder, investor, or developer wondering how to bridge idealism with profitability, this conversation is an absolute must-listen.
Connect with Heather Meeker
- Website: HeatherMeeker.com
- Email: [email protected]
- New Book: From Project to Profit: How to Build a Business Around an Open Source Project — Available on Amazon
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