In this business climate, the road to striking a venture capital deal is difficult for both funder and fundee. Small startups with big ideas obviously have a harder time finding VC firms willing to take a chance on them, but those VC firms themselves are under added pressure to make the correct decisions regarding where to put their limited resources. In the case of Sierra Ventures, one of its latest bets is on a firm called “webappVM.” WebappVM is attempting a next-generation approach to application management that leverages cloud architecture.

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