The study, conducted by Jon Funk of OceanRoad Partners , includes data from socalTECH.com's proprietary venture database , Dow Jones/VentureSource, and Greg Martin of Redpoint Ventures . Funk According to Redpoint's Martin, 2010 might be a strong year for exits, with a number of venture capital-backed, Southern California firms currently filed for initial public offerings. A new study of the financial outcomes for Southern California venture-backed companies in the IT sector finds that approximately $48 billion in value has been created by those companies over the period 1995-2009.

This morning, ReachLocal filed for an IPO ,  in what has been a long-anticipated move for the firm. ReachLocal started releasing financial information as a private company earlier this year, saying in August it hit $147M in revenues; and has been rumored  among local tech execs to be prepping for an IPO for much of this year. Another local venture capital firm, Redpoint Ventures ,  which is split between Los Angeles and Palo Alto, also has a portfolio firm in the IPO lineup, There’s a lot of folks gambling on the IPO market this week, with a bunch of IPO news — both from local VCs as well as one local company.