Yifan Lu the coder behind the Kindle jailbreak and mods and more famously PSXperia (running PSX games on Xperia Play) has revealed that he is now working on a Native Loader for the PSVita, basically its an Userland Vita Loader for loading unsigned executables on your Vita - Homebrew Loader for the PSVita - (not like VHBL which uses the PSP Emulator on PSVita).
The project comes from a PSVita exploit he has found and obviuosly wont give details of as of this time because of Sony plugging the exploit.
Theres no release yet but the sourcecode is being worked on as we speak. Yifan Lu has stated on his twitter account this
Also this:
For the Devs out there here is what he posted in full: